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Avinger closes Series D financing round

Avinger, a manufacturer of multi-functional catheters, has raised $33m in Series D financing round.

The finance was raised based on the completion of the company’s Connect II global clinical trial for Ocelot catheter, which is integrated with real-time intravascular imaging, for treating peripheral artery diseases.

The company’s existing major investors participated in the round, while new investors contributed over $11m.

Avinger CEO and founder John Simpson said, "Ocelot was designed to enable more informed treatment decisions, and the more information a physician has available during a procedure, the better we can help treat those patients."

Avinger board chairman Kenneth Novack said the company is pleased with the outcome of its Series D capital raise and plan to invest heavily in accelerating its growth.

"While using these latest funds to facilitate worldwide sales of our existing product lines, we’ll continue planning for clinical trials involving more products that incorporate intravascular imaging," Novack added.

"We are at the forefront of fighting this silent epidemic that currently impacts 8 to 12 million adults in the U.S. Alone."