FastWave Medical announces closure of multi-million dollar private financing

FastWave Medical, a pioneering medical device company incubated by Big Sky Biomedical partners, announced the swift closure of an oversubscribed multi-million dollar private financing. 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’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.”

The company’s 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 aging 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.

Dr Arthur Lee, a renowned Interventional Cardiologist 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’m excited about the prospects of treating my patients with FastWave’s devices.”

The recent infusion of capital will bolster the continued development of FastWave’s IVL systems, propelling the company’s key pre-clinical and clinical initiatives into new horizons. The financing round, graced by participation from esteemed physician KOLs and leading industry stakeholders, highlights the medical community’s trust in FastWave’s transformative capabilities.

FastWave Medical’s rapid progression, exemplified by this oversubscribed fundraise, reinforces its growing momentum in the cardiovascular sector. The innovative nature of its IVL systems presents a significant opportunity, heralding a new era for clinicians and drawing keen interest from investors.

“I’m involved in numerous medtech startups and the pace at which FastWave is advancing is unparalleled, and this financing is a testament to that,” commented JC Sun, a FastWave co-founder and board member. Another board member and co-founder, Brady Hatcher, added, “The potential for FastWave is incredibly exciting, and both the medical community and investors recognize this. Our team is firing on all cylinders and I’m thrilled to be a part of something special.”
MB Bureau