Shockwave Medical said today that it raised another $35 million for the Lithoplasty devices it’s commercializing to treat blocked arteries.
Fremont, Calif.-based Shockwave said it plans to use the new funding, which was led by new backer Fidelity Management & Research, to commercialize its existing devices for treating coronary and peripheral vessels in the U.S. and Europe and to evaluate the Lithoplasty tech in treating aortic valve stenosis. T. Rowe Price Assoc. also participated in the financing, which Shockwave said was an extension of its $45 million Series C round.
The Lithoplasty devices are designed to use sound waves to break up calcified lesions blocking blood vessels. Shockwave said a first-in-human study of the technology showed that it’s be feasible for treating aortic stenosis and that it’s working on more studies and a transfemoral approach for the device.
“We feel extremely fortunate to have received this investment particularly coming from these two funds,” president & CEO Doug Godshall said in prepared remarks. “This infusion enables us to move multiple preclinical, clinical and commercial initiatives forward with greater certainty. Specifically, we will be better equipped to accelerate our commercialization efforts, prepare for the launch of our below-the-knee device globally and our coronary platform outside the U.S. next year, as well as to commence a chronic human feasibility study of our transcatheter aortic valve lithotripsy system in the first half of the year.”