Shockwave Medical, a Fremont, Calif.-based developer of a treatment of calcified cardiovascular disease, raised $35m in financing.
This was an extension of the company’s previously announced $45m Series C financing. New investor Fidelity Management & Research Company participated, along with certain funds and accounts advised by T. Rowe Price Associates, Inc., a returning investor.
The company intends to use the funds to expand commercialization and advance clinical development of its Peripheral and Coronary Lithoplasty® Systems in the United States and Europe and to advance development of a program evaluating the technology as a potential treatment for aortic valve stenosis.
Led by Doug Godshall, president and CEO, Shockwave Medical is advancing the Peripheral Lithoplasty System, an innovative therapy designed to treat calcified leg artery blockages with lithotripsy, sonic pressure waves historically used to treat patients with kidney stones.
The technology is now commercially available in both the United States and Europe for the treatment of calcified plaque in peripheral arteries.
In addition, the Coronary Lithoplasty System received CE mark earlier this year.