Infraredx Receives $25M Investment from Nipro
BURLINGTON, Mass., Aug. 25, 2013 — Infraredx Inc. has received a $25 million equity investment from Nipro Corp. to support the commercialization and distribution of Infraredx’s TVC Imaging System in Japan.
The TVC (true vessel characterization) Imaging System is an intravascular imaging system integrating near-IR spectroscopy (NIRS), lipid core plaque (LCP) detection and enhanced intravascular ultrasound (IVUS) imaging technology to assess vessel composition and structure.
In conjunction with the investment, a member of Nipro’s management team will join Infraredx’s board of directors.
“Nipro’s investment in Infraredx underscores the significant potential of our TVC Imaging System to change the standard of care for patients with coronary artery disease,” said Donald Southard, Infraredx president and CEO.
IVUS imaging is the standard of care in Japan with more than 80 percent of all percutaneous coronary intervention procedures guided by intravascular imaging. However, IVUS is not an optimal method to determine plaque composition, nor is it able to detect lipid cores that are vulnerable to rupture, causing most heart attacks. LCP also complicates stenting procedures. The TVC Imaging System offers physicians both NIRS to detect lipid core plaque and IVUS for true vessel characterization.
“Infraredx’s novel TVC Imaging System will provide Japanese cardiologists with critical imaging information, enabling physicians the ability to deliver the most informed interventional therapies to their patients,” said Nipro President and CEO Yoshihiko Sano.
The money will also be used to support Infraredx’s expansion and operations. The companies are on track to receive Japanese regulatory approval of the system in 2014, they said.
For more information, visit: www.infraredx.com