InfraReDx Completes $21 Million Equity Financing
BURLINGTON, Mass., Oct. 12 /PRNewswire/ -- InfraReDx, Inc., a medical device company developing intelligent cardiovascular diagnostic imaging technologies, today announced the completion of a $21 million equity financing. This round of investment attracted new institutions as well as existing investors, including Sanderling Ventures. Funds from the financing are being used to support the full commercial launch of the LipiScan™ IVUS Coronary Imaging System, the world's first and only intravascular imaging system that combines and co-registers grayscale intravascular ultrasound (IVUS) with InfraReDx's proprietary near infrared (NIR) spectroscopy lipid core plaque (LCP) detection technology.
"We are pleased to provide this novel diagnostic tool for the care of coronary patients. Our existing investors have been very supportive of the effort to develop LipiScan IVUS and the unique capabilities of the system have been instrumental in attracting the support of new investors, as well," said James E. Muller, M.D., founder and chief executive officer of InfraReDx. "The LipiScan IVUS system will enable interventional cardiologists to accurately and rapidly identify the lipid core plaques that complicate stenting and are believed to be the major cause of heart attacks. Our full commercial launch will bring this important and eagerly awaited interventional imaging technology to leading catheterization labs in the U.S. this year. It will be available in Europe in 2011."
The LipiScan IVUS system employs proprietary optical imaging technology to overcome the challenges of heart motion, blood interference, and vascular access to perform NIR spectroscopic analysis of the vessel and produce a chemical map of lipid-core plaque called a Chemogram™. The system provides physicians with a traditional IVUS image that shows plaque location, degree of stenosis and degree of stent expansion. At the same time optical data are