FastWave Medical, a medical device company incubated by Big Sky Biomedical partners, announced the closure of an oversubscribed multi-million dollar private financing. The company is developing multiple intravascular lithotripsy (IVL) systems.
Scott Nelson, co-founder and CEO of FastWave Medical said, "Since the inception of our company, we've 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 utilization of IVL in clinical practice continues to increase and our commitment to differentiated, procedurally-efficient, and cost-effective systems is unwavering. I'm thankful for our board of directors and their recognition of the significant upside for our company . In addition, I'm 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's journey began just two and a half years ago with a vision: to address the challenges of artery calcification, a significant predictor of adverse cardiac events, through differentiated IVL platforms.
The recent infusion of capital will bolster the continued development of FastWave's IVL systems. The company said that its rapid progression, exemplified by this oversubscribed fundraise, reinforces its growing momentum in the cardiovascular sector.