AVS’s Pulse IVL Technology Supported by Financing Round

April 4, 2023—AVS, an early-stage medical device company focused on treating severely calcified arterial disease with its pulsatile intravascular lithotripsy (IVL) therapy, announced that it closed an additional $8.8 million in new financing, bringing its Series B round to $28.8 million in total. In January 2023, the company announced it had raised $20 million in Series B financing.

The funding will continue to support clinical trials for the company’s Pulse device for IVL in peripheral cases, while advancing preclinical work for an expanded indication in coronary cases.

According to the company’s press release, AVS successfully enrolled, treated, and collected positive 30-day follow-up data on patients in the first-in-human POWER PAD I clinical trial that commenced in September 2022.

The prospective, single-arm, multicenter feasibility study is evaluating the technical and clinical success of the company’s Pulse system for treating patients with calcific femoropopliteal arteries. The Pulse IVL system is a balloon-based platform that expands calcified lesions by gently shattering calcium with pressure waves in frequent bursts, stated the company.

BioStar Capital, an investor in transformational medical technologies, led the Series B financing with Cue Growth Partners, a private equity firm focused on health care.