Pathway Medical Technologies, a developer of endovascular treatments for peripheral arterial disease (PAD), has secured a $24.5 million Series C-1 round of financing.

The financing was obtained from existing investors HLM Venture Partners, Latterell Venture Partners, Oxford Bioscience Partners, Forbion Capital Partners, Giza Venture Capital and individual investors, according to the Kirkland, Wash.-based Pathway.

“Their participation in this latest round of financing reflects their confidence in our ability to manufacture and bring a meaningful product to market -- one that we believe will have a positive impact on treatment options for patients with PAD,” said Tom Clement, Pathway's CEO and president.

The company said it will use the funds to prepare for commercialization, specifically to build a sales and manufacturing organization in anticipation of the market introduction of its Pathway PV Atherectomy System.