Shockwave Medical, a Fremont, California-based developer of intravascular devices for patients with challenging calcified cardiovascular disease, raised $12.5m in Series A financing.
The round was led by Sofinnova Partners. In conjunction with the funding, Antoine Papiernik of Sofinnova Partners, joined Shockwave’s board of directors.
The company intends to use the funds for the development and clinical study of its devices.
Founded by CEO Daniel Hawkins, John Adams and Dr. Todd Brinton, Shockwave Medical develops intravascular devices for the treatment of advanced peripheral and coronary artery disease. Its novel Lithoplasty™ system, which has been in development since 2010, combines traditional balloon angioplasty catheters with lithotripsy. It was first used in patients with calcified peripheral artery disease (PAD) in New Zealand in 2012.
The company is now preparing enrollment in their CE Mark study for PAD in Europe and New Zealand.