FastWave Medical Secures Financing to Advance Intravascular Lithotripsy Technology

May 19, 2022—FastWave Medical, which is focused on developing intravascular lithotripsy (IVL) systems for calcific artery disease, announced the closing of the second tranche of its Series Pre-A financing. The funds will be used to further advance research and development for the company’s IVL systems and help the company achieve key regulatory initiatives for its technology platforms.

FastWave is a privately held company incubated by partners of Big Sky Biomedical. Scott Nelson is CEO of FastWave Medical and Managing Director of Big Sky. JC Sun, Founding Partner and Managing Director of Big Sky.

The second tranche was led by Grand Pharmaceutical Group Limited, an Asia-based company engaged in the research & development, manufacturing, and commercialization of pharmaceutical and biotechnology products, advanced medical devices, and nutritional products. Its core product portfolio covers several major therapeutic areas including cardiovascular and neurovascular devices, respiratory and ophthalmic treatments, and selective oncology therapies.

In August 2021, FastWave Medical announced a Series Pre-A financing closing to advance its endovascular therapies. The strategic partnership 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 the satisfaction of closing conditions set forth in the agreement, including completion of key technical, clinical, and regulatory milestones.