BioStar Capital leads round to accelerate clinical trials and development in peripheral and coronary solutions
BOSTON–(BUSINESS WIRE)–AVS, an early-stage medical device company focused on safely and effectively treating severely calcified arterial disease with its PIVL™ therapy, announced today that it raised $20 million in Series B financing. The new funding will accelerate clinical trial timelines for the company’s device for peripheral application in pulsatile intravascular lithotripsy (PIVL) cases and advance development and preclinical work on a PIVL device for coronary cases.
BioStar Capital, the lead investor in the company’s Series A round, also led the Series B round. BioStar Capital is focused on transformational investments in medical technologies with an emphasis on cardiovascular and orthopedics.
“AVS is one step closer to offering a new treatment solution for patients with severely calcified peripheral arterial disease and progressing toward preclinical studies for coronary cases,” said Mark Toland, Managing Director for BioStar Capital and Executive Chairman/CEO of AVS. “Patients in this disease state too often face the prospect of limb amputation due to a lack of treatment options. We see a significant opportunity to address that need and advance the intravascular lithotripsy space through minimally invasive technology in both peripheral and coronary therapy.”