Access Vascular Secures New Financing to Accelerate Commercialization for their Intravenous Devices
BEDFORD, Mass., Sept. 26, 2019 /PRNewswire/ — Access Vascular, a medical device company developing the next generation of intravenous devices from novel biomaterials designed to minimize the risk of bloodstream infection, catheter thrombosis, and vein trauma, announced $6M in new funding from new and existing investors. With this new round, Access Vascular is poised to launch the next generation of its FDA-cleared HydroPICC device, initiate the company's first post-market registry study, and expedite new product development.
"2020 is shaping up to be another exciting year for Access Vascular," commented James Biggins, Access Vascular's Founder and CEO. He emphasized the importance of clinical evidence to the company's long-term strategy, noting, "While we've received incredible traction from doctors and nurses already, we recognize that this is a market which is sorely lacking robust clinical data about patient outcomes. To that end, we intend to conduct multiple clinical evaluations starting in early 2020 that will establish the impact our devices have on patient outcomes compared to conventional catheters."
The new funding will also support product development as the company seeks to expand its portfolio of reduced thrombosis intravenous devices. The company anticipates making an FDA submission for a second product next year. While Access Vascular's biomaterial platform has already demonstrated its ability to minimize thrombus accumulation, a leading cause of catheter failure, future innovations in the company's pipeline could actively combat bloodstream infections for the life of the catheter or allow insertion of a catheter through difficult or stenosed vessels.
Access Vascular is rapidly growing its team to meet the demand for its HydroPICC product and move additional products in the company's pipeline toward commercialization. For more information, please visit www.accessvascularinc.com/careers.
About Access Vascular
Access Vascular was founded in 2015 to address the most common and costly complications of intravenous therapy: infection, thrombosis, and phlebitis. The company develops intravenous catheters and ports from patented biomaterials which are highly biocompatible and are capable of long-term infection protection. Access Vascular's first product HydroPICCTM began commercial use in early 2019, future applications include midlines, dialysis catheters, ports, and other devices. For more information, please visit www.accessvascularinc.com.
Contact:
Rohit Joshi
718-404-7152
rjoshi@accessvascularinc.com
