Ra Medical CEO Irwin aims for Feb 2018 IPO

In May, Ra Medical received a nod from the FDA for its Dabra arteriosclerosis laser, clearing it for use in the US. It was a decision the company had been waiting on for approximately 3 years, CEO Dean Irwin told MassDevice.com in an interview, and signaled a significant shift forward. “In 2014, we submitted to the FDA, and here in 2017, just on May 24th, we received the go ahead to begin marketing in the United States,” Irwin said. Ra Medical won CE Mark approval in the European Union last October, giving the company time to launch in the region, which it’s been operating in for several months, Irwin said. “That was a much shorter process,” Irwin said. “We’ve been operating in Europe now for several months, and here in the United States for a few months. We’ve now done over 100 procedures – in fact, over 200 procedures worldwide.” The Carlsbad, Calif.-based company is now looking to a potential initial public offering early next year, hoping the capabilities of its Dabra arteriosclerosis laser make it stand out to investors. The field of atherectomy is competitive, but the unique properties of its Dabra system provide significant advantages over the competition, Irwin said. “It’s very different from a balloon angioplasty, or a stent. In balloon angioplasty, a balloon pushes the plaque to the side, compressing it or expanding the vessel, and a stent will just keep it propped open. But we felt that, and many feel, that it’s better if yo...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Cardiovascular Regulatory/Compliance Ra Medical Source Type: news