Shockwave Medical has announced it has secured $40 million in funding.
Shockwave Medical, based in Fremont, Calif., develops technology for the treatment of peripheral and coronary vascular disease and aortic stenosis. It is the developer of Lithoplasty balloon catheters.
The funding round was co-led by returning investor Sofinnova Partners and new investor Venrock, with the participation of RA Capital, Deerfield, Sectoral Asset Management, Ally Bridge Group and two undisclosed large-cap investors.
Shockwave Medical indicated the funding would be put toward the development of the Lithoplasty system. The company says the Lithoplasty family of balloon dilatation catheters incorporate lithotripsy electrodes designed to increase the compliance of rigid vascular and valvular lesions prior to low-pressure dilation, which is intended to limit injury to healthy tissue and overcome limitations of current revascularization technologies.