FastWave Medical Closes Series Pre-A Financing and Milestone-Based Acquisition Agreement

August 23, 2021—FastWave Medical Inc., a company incubated by partners of Big Sky Biomedical, announced today the closing of its Series Pre-A financing, led by a strategic partner from Asia. FastWave Medical is focused on providing endovascular solutions for arterial disease. The company’s website is fastwavemedical.com.

According to the company, the minority investment will be used to advance research and development and achieve key regulatory initiatives for the company’s novel endovascular therapies for the treatment of calcific artery disease. In addition, the strategic partner will assist FastWave Medical in accelerating global expansion by bringing its technology to China.

Under the terms of the investment plus acquisition agreement, FastWave will be acquired on satisfaction of closing conditions set forth in the agreement, including completion of key technical, clinical, and regulatory milestones.

The company stated that there is a significant need for advanced endovascular technologies that can effectively treat calcified disease in a procedurally efficient manner without unintended patient complications.

Scott Nelson, Chief Executive Officer of FastWave Medical and Managing Director of Big Sky Biomedical, commented in the announcement, “Current interventional approaches for atherosclerosis can be anatomically limited, procedurally complex, or result in complications such as dissection, perforation, or embolization. FastWave’s proprietary technology aims to address these challenges with a safe, simple, and effective system that has the potential for becoming a new standard of care.”

JC Sun, Founding Partner of Big Sky Biomedical and advisor for the overall partnership and strategic planning, added, “We are extremely pleased to see FastWave close this round of financing. With the milestone-based acquisition agreement in place, it demonstrates strong support and confidence from our strategic partner. We were able to form the company and complete this transaction in less than 6 months. Not only am I very confident in the execution capabilities of our team, but we look forward to furthering our development efforts and demonstrating the next-level performance of FastWave’s platform to simplify and improve the safety and efficacy of endovascular arterial procedures for both physicians and patients.”