Infraredx, Inc., a Burlington, Mass.-based medical device company committed to advancing the diagnosis and management of coronary artery disease, received a $25m equity investment from Nipro Corporation.
In conjunction with the investment, a member of Nipro’s management team will join Infraredx’s board of directors.
The company, which has also increased its term funding arrangement with GE Capital, intends to use the funds to expand operations and commercialize the TVC Imaging System in Japan. Infraredx and Nipro have an exclusive agreement for distribution of Infraredx’ TVC Imaging System in Japan and currently on track to receive Japanese regulatory approval of the TVC Imaging System in the first half of 2014.
Founded in 1998 and led by Donald Southard, president and chief executive officer, Infraredx provides the TVC Imaging System, an intravascular imaging system that integrates near infrared spectroscopy (NIRS) lipid core plaque (LCP) detection and enhanced intravascular ultrasound (IVUS) imaging technology to assess vessel composition and structure.