SpectraWave Raises Funds to Drive Commercial Expansion of HyperVue Imaging System

September 11, 2024—SpectraWave, Inc. announced a $50M Series B funding round that will advance commercial expansion and product additions to the company’s FDA 510(k)-cleared HyperVue imaging system for coronary artery disease.

The funding round was led by Johnson & Johnson Innovation, which was joined by S3 Ventures, Lumira Ventures, SV Health Investors, Deerfield Management, NovaVenture, Heartwork Capital, and undisclosed parties.

According to the company, the HyperVue intravascular imaging technology combines the company’s DeepOCT and near-infrared spectroscopy. The technology optimizes image quality and procedural efficiency in the catheterization lab, including no-flush catheter prep, fast and long pullbacks designed to reduce and remove the use of contrast, and comprehensive artificial intelligence–driven workflow and image analysis.

“Intravascular imaging guidance is backed by a wealth of randomized clinical trials (RCTs) and recently collated in a meta-analysis of 22 RCT studies and approximately 16,000 patients published this year in The Lancet, demonstrating significantly improved outcomes for patients undergoing coronary stenting,” commented Eman Namati, PhD, Chief Executive Officer of SpectraWave, in the company’s press release.

Dr. Namati continued, “This evidence and broad recognition of impact has recently moved intravascular imaging to a 1A guideline recommendation in Europe, with an expectation that the United States will follow in due time. Increasing both the capabilities and the ease of use of intravascular imaging systems is now critical to expand the use of imaging and improve care for these patients. That is our mission with HyperVue—simpler, faster, and better imaging to drive optimized stenting procedures for improved patient outcomes. The reception to the product during our initial United States launch has been fantastic, and this financing, supported by leading medtech investors, will support our commercial expansion to bring HyperVue to more patients.”

Concluding his comments in the company’s press release, Dr. Namati stated, “In addition to our commercial intravascular imaging system, we are developing a wire-free physiology software add-on to allow physicians rapid assessment of pressure drops in the coronaries using the same HyperVue hardware. This is an important step in our journey to enhance the clinical decision-making for these patients and establish an anchor point for future innovation in the cath lab.”