FastWave Medical recently announced the swift closure of an oversubscribed multi-million dollar private financing. A press release states that this achievement, secured in just a few weeks, highlights the growing interest and confidence in FastWave’s ability to execute its vision for the development of multiple intravascular lithotripsy (IVL) systems.
Scott Nelson, co-founder and CEO of FastWave Medical, expressed his enthusiasm, stating: “Since the inception of our company, we have received considerable inbound interest from potential investors. But when we opened up this private placement, we were blown away by the response. This financial milestone, combined with the speed at which our engineering team is moving, underscores FastWave’s momentum in the IVL space.”
He continued: “The utilisation of IVL in clinical practice continues to increase and our commitment to differentiated, procedurally-efficient, and cost-effective systems is unwavering. I am thankful for our board of directors and their recognition of the significant upside for our company. In addition, I am grateful to have such an impressive list of physician KOLs and medical device industry professionals demonstrate their confidence in our team as we aim to seize the tremendous opportunities ahead for FastWave.”
FastWave Medical details that its journey began just two and a half years ago with a clear vision: to address the challenges of artery calcification, a significant predictor of adverse cardiac events, through differentiated IVL platforms. An ageing global population that calls for effective and minimally invasive solutions has never been higher. FastWave’s charge to this cause has led to the development of multiple IVL systems, providing physicians with more treatment options that are economical and easy to use.
Arthur Lee, an interventional cardiologist at The Cardiac & Vascular Institute (Gainesville, USA) and advisor with High Circle Ventures, shared: “IVL is an impressive therapy and FastWave’s team is moving remarkably quickly. Their inventive IVL systems promise to fill much-needed gaps with existing technologies and I am excited about the prospects of treating my patients with FastWave’s devices.”