Avinger snags $33M to develop PAD catheters

Devicemaker Avinger closed a $33 million Series D round, planning to spend the money on marketing and developing its line of catheters that treat peripheral artery disease.

Some of the money will go to boost sales of Avinger's already-on-the-market Wildcat and Kittycat catheters, the company said, and the rest will go into R&D as the company moves its pipeline PAD-treating techs toward commercialization. "We are at the forefront of fighting this silent epidemic that currently impacts 8 to 12 million adults in the U.S. alone," Avinger Chairman Kenneth Novack said in a statement.

Avinger is also focusing on getting its latest device, Ocelot, onto U.S. shelves. Ocelot is the company's first catheter to incorporate optical coherence tomography, and the tech is the first-ever crossing catheter with integrated real-time intravascular imaging, according to Avinger. Ocelot got its CE mark in September, and the company plans to file for 510(k) clearance this year.

In the pipeline for Avinger is Wolverine, a peripheral atherectomy catheter that boasts intravascular imaging technology and OCT, which the company says is a first-time combination of technologies.

Since its launch in 2007, Avinger has made a splash on the venture capital scene. Today's $33 million Series D closure follows a $22.5 million Series C back in January and another $25 million haul in 2011.

- read the company's statement

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