Financing Will Advance Development of Shockwave Medical’s Lithoplasty Treatment
November 22, 2016—Shockwave Medical, a developer of treatments for calcified cardiovascular disease, announced the closing of $45 million in Series C financing led by Sectoral Asset Management.
The funds will be used to advance development of the company’s Lithoplasty balloon catheter platform into new therapeutic areas and to expand commercialization of the technology for the treatment of peripheral vascular disease in both the United States and the European Union.
The company’s near-term plans include further study of peripheral Lithoplasty devices in conjunction with drug-coated balloons in a 300-plus patient randomized controlled study called DISRUPT PAD III.
The peripheral Lithoplasty system is commercially available in the European Union and the United States for the treatment of peripheral vascular disease.
In September, Shockwave Medical announced US Food and Drug Administration clearance of the company’s Lithoplasty system for lithotripsy-enhanced balloon dilation of lesions, including calcified lesions, in the peripheral vasculature, including the iliac, femoral, iliofemoral, popliteal, infrapopliteal, and renal arteries.
On November 1, the company announced plans for the upcoming DISRUPT PAD III multicenter, randomized study, which is designed to enroll only patients with calcified peripheral artery disease. The study will provide physicians foundational level 1 evidence to guide therapy in this difficult-to-treat patient cohort.
Finally, positive results from the first study of Lithoplasty technology in the treatment of patients with calcified coronary artery disease were presented at TCT 2016, the 28th annual Transcatheter Cardiovascular Therapeutics scientific symposium held October 29 to November 2 in Washington, DC.