Cardiovascular Systems Inc. (CSI), a medical device company that develops and commercializes interventional treatment systems for patients with peripheral and coronary artery disease, has signed an agreement with Aerolase Corp. to co-develop a new laser atherectomy device for physicians to use in more effectively treating multiple forms of arterial disease.

Under the terms of the agreement, CSI made an undisclosed equity investment in Aerolase and will make additional equity investments as development milestones are met.

Aerolase Corp., based in Tarrytown, N.Y., manufactures, markets, and sells LightPod dermatology lasers.

Cardiovascular Systems Inc., based in St. Paul, Minn., is a medical device company focused on developing and commercializing innovative solutions for treating vascular and coronary disease.