Shockwave Medical filed for its IPO on 2/8/19. While the filing did not list the number of shares to be offered or the expected offering price, the offering will bring in an expected maximum of $70 million.
Shockwave makes a device that uses intravascular lithotripsy (IVL) to fracture calcium deposits in vascular system. Calcium deposits present many challenges in cardiovascular surgery. For example, rigid calcium deposits might make it impossible to reliably dilate vessels with balloon angioplasty. Shockwaves device provides a way to modify the calcium while minimizing soft tissue damage.
The company currently conducting a trial for the use of IVL in heavily calcified coronary arteries. “After previously using the peripheral IVL technology – Shockwave M5 – to enable transfemoral access for TAVR as well as for mechanical cardiac support and hearing the enthusiasm from Europe about coronary IVL, we are very excited to investigate the clinical potential of the coronary technology in the United States,” said Dr. Dean Kereiakes, one of the principal investigators of the study.