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Shockwave attracts additional investment from Abiomed, has IPO
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Shockwave Medical announced it received a $10 million investment from Abiomed, which comes several months after a $15 million investment from the company.
Shockwave Medical also announced it raised $111.4 million in the first days of its initial public offering, in what it said was the largest IPO on the NASDAQ exchange so far in 2019.
The company has developed an intravascular lithotripsy technology for treatment of calcified disease in the peripheral and coronary arteries; it works similar to technologies used to treat kidney stones.
The latest Abiomed investment came in the form of a private placement of 588,235 shares at $17 per share, according to a press release from Shockwave.
As Cardiology Today’s Intervention previously reported, Shockwave’s peripheral intravascular lithotripsy catheter (M5) is often used in patients with severely calcified iliac arteries to facilitate the transfemoral delivery of catheter-based devices such as Abiomed’s family of heart pumps (Impella). When the previous $15 million investment from Abiomed was announced, the companies stated they would collaborate on a training and education program for users in the United States and Germany focusing on the complementary uses of their technologies.