AVS, an early-stage medical device company focused on safely and effectively treating severely calcified arterial disease with its PIVL™ therapy, announced today that it closed an additional $8.8 million in new financing, bringing its Series B round to $28.8 million total. The funding will continue to support clinical trials for the company's device for pulsatile intravascular lithotripsy (PIVL) in peripheral cases, while advancing preclinical work for an expanded indication in coronary cases.

BioStar Capital, an investor in transformational medical technologies, led the Series B financing with CUE Growth Partners, a private equity firm focused on healthcare.

AVS is an early-stage medical device company focused on safely and effectively treating severely calcified arterial disease. It was founded in 2018 by Hitinder Gurm, M.D., Interventional Cardiologist and Chief Clinical Officer at University of Michigan, and Robert Chisena, Ph.D., Chief Technical Officer at AVS. It is redefining interventional therapy for severely calcified lesions with the Pulse IVL System, which uses a novel pulsatile mechanism of action to shatter calcium and expand narrowed vessels, all with a single device.