SpectraWAVE Secures $50M Series B Funding Led by J&J to Enhance Intravascular Imaging System

Funding Round:
SpectraWAVE, a medical imaging company, has raised $50 million in a Series B funding round led by Johnson & Johnson Innovation - JJDC, Inc.

Purpose:
The funding will support commercial expansion and product additions for SpectraWAVE’s HyperVue Imaging System, which is used for the treatment of coronary artery disease (CAD).

Product Details:
The HyperVue Imaging System combines DeepOCT and near infrared spectroscopy (NIRS) imaging methods, offering advanced features such as no-flush catheter preparation, rapid and extended pullbacks to minimize contrast use, and AI-driven workflows with comprehensive image analysis.

Regulatory Clearance:
The HyperVue Imaging System received FDA 510(k) clearance in March 2023, followed by additional clearance for enhancements including contrast-free saline imaging and advanced AI algorithms.

Market Impact:
Intravascular imaging has been recognized as a critical tool for optimizing coronary stenting procedures, with recent studies showing improved patient outcomes compared to angiography. This technology has been elevated to a 1A guideline recommendation in Europe, with expectations for similar adoption in the United States.

Investor Participation:
The funding round included participation from S3 Ventures, Lumira Ventures, Deerfield Management, SV Health Investors, Heartwork Capital, NovaVenture, and other undisclosed investors.