The Food and Drug Administration has approved Pathway Medical Technologies’ “PV Atherectomy System,” Thomas Clement, CEO of the Kirkland-based company, announced last week. The system is designed to treat patients with peripheral artery disease by removing hard and soft diseased tissue and restoring circulation in the peripheral arteries.

In mid-April, Pathway said it would use a $24.5 million venture financing round to build a sales and manufacturing organization for the commercialization of its system.

Clement said Pathway would bring the product to market during the fourth quarter of the year. Currently, he said, the company is working on hiring a sales and marketing force of 22 to sell the system. The company has 120 on staff.