WRF Capital, the venture investment arm of the nonprofit Washington Research Foundation (WRF) has invested $1.5 million as part of Pathway Medical Technologies' Series D round of financing. The foundation’s investment brings the total series D round to $42.5 million.
Other organizations already participating in the round include Forbion Capital Partners, Giza Venture Capital, HLM Venture Partners, Latterell Venture Partners, Oxford Bioscience Partners and individual investors.
"Since entering the market less than a year ago, Pathway has demonstrated a commitment to delivering exceptional technologies to meet the growing population of PAD [peripheral artery disease] sufferers...This investment marks our largest to date and reinforces our belief in the promise of the Jetstream platform and Pathway," said Thong Q. Le, managing director at WRF Capital.
The Pathway Jetstream G2, cleared by the FDA in March, is a peripheral revascularization catheter designed to remove all types of artery-clogging plaque, from calcium to thrombus. The product received an additional indication for the removal of thrombus, creating new options for physicians treating PAD, which clears blockages in the peripheral vasculature, restores blood flow and treats PAD.