Cardiovascular Systems, Inc., a St. Paul, Minn.-based medical device company developing and commercializing innovative interventional treatment systems for patients with peripheral and coronary artery disease, has signed an agreement with Aerolase Corp., Tarrytown, NY, 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.
“We believe there is an opportunity to leverage Aerolase’s innovative proprietary laser technology, which is FDA-cleared for dermatology and medical aesthetic uses and supported by leading physicians in those fields. The collaboration project aims to create a significant improvement in the quality of care for patients suffering from peripheral arterial disease and in-stent restenosis,” says Scott Ward, CSI’s chairman, president, and CEO.
Pavel Efremkin, PhD, Aerolase’s chairman and CEO, adds, “We are excited to pursue the development of an atherectomy laser device with an industry-leading company like CSI. Our dermatology and aesthetic medicine customers appreciate the portability, reliability, ease-of-use and minimal setup time that our lasers offer in addition to high clinical efficacies. We look forward to demonstrating that our solid-state, patented, air-cooled laser technology can transfer to atherectomy and provide similar benefits to interventional cardiologists.”