Pathway technologies received FDA approval for the newest atherectomy device to enter the crowded atherectomy space. The atherectomy space previously dominated by the likes of EV3's Silverhawk device and followed by CSI's Diamondback System, is now a crowded field. This makes things interesting because the Diamondback is barely out of the gate with its recent September 2007 release.
On June 30, 2007, Pathway Medical Technologies said that it has raised $24.5 million in venture capital from existing investors. Money geared to help the company create a sales force to launch
Pathway has some 100 employees. After receiving FDA approval, the company intends to expand as it creates a sales and marketing team, but Clement declined to say how many jobs would be created.
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