What is SpectraWAVE?
Founded in 2017 and based in Bedford, Mass., SpectraWAVE is dedicated to enhancing the treatment and outcomes for patients suffering from coronary artery disease (CAD). The company's flagship product, the HyperVue Imaging System, integrates advanced DeepOCT imaging and near-infrared spectroscopy (NIRS) with optimized workflows for cardiac catheterization labs. This system aims to provide interventionalists with unparalleled optical and computational insights, empowering them to make more informed treatment decisions and improve patient care in a field where adverse events remain a concern post-stent placement.
How much funding has SpectraWAVE raised?
SpectraWAVE has raised a total of $63.2M across 2 funding rounds:
Series A
$13.2M
Series B
$50M
Series A (2021): $13.2M with participation from Deerfield Communications Inc
Series B (2024): $50M led by Heartwork, Johnson & Johnson Innovation, and Lumira Capital
Key Investors in SpectraWAVE
Heartwork
Heartwork Inc specializes in designing and manufacturing modern workspace solutions tailored for creative cultures. Their product range includes lockers, bookcases, storage cabinets, and various accessories, all of which are GREENGUARD Gold Certified and produced in the USA. The company aims to serve clients in diverse sectors, including healthcare, by providing thoughtfully designed storage that enhances workplace efficiency. Heartwork is committed to sustainability and innovation, continually evolving its offerings to meet the needs of its customers.
Johnson & Johnson Innovation
Johnson & Johnson Innovation is a pharmaceutical manufacturing company founded in 1973 that focuses on positively impacting human health through innovation. The company partners with entrepreneurs and early-stage businesses to develop healthcare solutions that improve lives globally. Johnson & Johnson Innovation operates through a network of regional innovation centers in Boston, California, London, and Shanghai, designed to access the best science and technology in each region. The company provides resources and collaborative approaches across multiple healthcare sectors including consumer products, medical devices, pharmaceuticals, and global public health. Johnson & Johnson Innovation aims to create a leading global innovation network that generates transformational healthcare solutions through strategic partnerships with both B2B and B2C applications.
Lumira Capital
Lumira Ventures is Canada's largest life sciences venture capital firm, specializing in investments in healthcare innovators across various stages, from early-stage to revenue-generating biotech, biotherapeutics, and medical devices. The firm partners with mission-driven entrepreneurs to develop and commercialize impactful products aimed at improving patient outcomes. Headquartered in Toronto, Ontario, Lumira Ventures also has locations in Montreal, Vancouver, and Boston. Their portfolio includes notable companies and collaborations, such as the Cancer Breakthrough Fund with The Terry Fox Foundation.
What's next for SpectraWAVE?
With the recent major strategic investment, SpectraWAVE is poised for significant growth and further development of its groundbreaking HyperVue Imaging System. This enterprise-level backing suggests a strong market validation and provides the necessary capital to scale operations, enhance product capabilities, and potentially expand its reach within the cardiovascular medical device sector. The company's focus on improving CAD treatment through advanced imaging technology positions it for continued innovation and impact in patient outcomes.
See full SpectraWAVE company page
