FastWave Medical received an allowance of the patent within just six months of filing, demonstrating the company's ability to quickly execute in the multi-billion dollar intravascular lithotripsy (IVL) market.
MINNEAPOLIS, Feb. 1, 2023 /PRNewswire-PRWeb/ -- FastWave Medical, a privately held company incubated by partners of Big Sky Biomedical, announced today it has been awarded a utility patent from the USPTO. FastWave Medical is rapidly developing intravascular lithotripsy (IVL) systems that are procedurally-efficient and cost-effective. The company is poised to disrupt this $9 billion addressable market with a novel solution for peripheral and coronary artery calcification (CAC).
"I am beyond thrilled that our fast-moving team has achieved this significant milestone. Receiving a non-provisional utility patent, with broad claim sets, for our novel IVL system in just six months is truly impressive," said Scott Nelson, Chief Executive Officer and Co-Founder of FastWave Medical. "Cardiovascular calcium is complex to treat and there is a significant need for new interventional procedures; our system increases procedural efficiency and provides a more user-friendly experience to address this multi-billion dollar market."
CAC is present in 90% of men and 67% of women older than the age of 70. While there have been advancements in CAC therapeutic options over the last few decades, global cardiovascular disease is on the rise and there remains an unmet need for improved technologies to treat calcific arterial plaque. Existing interventions can be costly and cumbersome to use, and many procedures come with an increased risk of adverse events. FastWave's IVL systems are minimally-invasive and improve upon current offerings through enhanced catheter crossability, upgraded durability, and overall ease of use.
"Our incredible team has deep interventional vascular expertise, which has allowed us to achieve milestones with exceptional speed. A non-provisional utility patent granted this fast is virtually unheard of in the medical device industry," said Tristan Tieso, Chief Operating Officer of FastWave Medical. "Our IVL systems offer clear differentiation versus other devices on the market and I couldn't be more proud of the progress our strong group of engineers and technicians have made over the last year."
About FastWave Medical Inc.
FastWave Medical, a privately held company incubated by partners of Big Sky Biomedical, is focused on developing intravascular lithotripsy (IVL) systems for calcific artery disease that are procedurally efficient and cost-effective. To learn more about FastWave Medical, please visit https://fastwavemedical.com.
About Big Sky Biomedical, LLC
Founded by a group of medical device serial entrepreneurs with extensive expertise in the vascular space, Big Sky Biomedical is a highly specialized accelerator focused on rapid, capital-efficient therapy development. To learn more about Big Sky Biomedical, please visit https://bigskybiomedical.com.
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SOURCE FastWave Medical
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