FastWave Medical Closes Series Pre-A Financing
FastWave Medical has recently closed their Series Pre-A financing round, following its recent acquisition by China Grand Pharmaceutical and Healthcare Holdings.
Minneapolis-based FastWave Medical is a biomedical company focused on developing novel intravascular devices that are safe, efficacious, and cost-effective.They have announced that these funds will be directed towards advancing their research and development and to achieve key regulatory initiatives for its endovascular therapies to treat calcific artery disease.
The acquisition by China Grand Pharmaceutical was previously announced on August 2. China Grand Pharmaceutical will acquire 100% equity of FastWave Medical with up to a total of $72 million by phases and will invest up to total $8 million for supporting and jointly developing an intravascular shockwave calcification treatment system.
The acquisition, along with the funding, will be contingent on FastWave Medical’s progress and completion of key technical, clinical and regulatory milestones.
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