Access Vascular Secures $3.7 Million In Financing
Latest round of funding will advance HydroPICC™ development and regulatory pathway
BEDFORD, Mass., Aug. 28, 2017 /PRNewswire/ -- Access Vascular, a medical device company developing innovative venous access devices that eliminate thrombotic risk, today announced $3.7 million in funding from individual investors and angelMD, an investment platform and marketplace connecting innovative medical startups, physicians, investors and industry partners. This financing will help support submission of a 510(k) application later this year, for Access Vascular's lead product, the HydroPICC™, a superior peripherally inserted central catheter.
"We appreciate the support and engagement of all our investors. This latest round of funding comes at a critical and exciting time for Access Vascular. We have added several talented engineers to the team as we advance our pipeline development and prepare for our first 510(k) submission to FDA later this year," said James Biggins, founder, president and CEO of Access Vascular Inc.
"angelMD was impressed with the expertise and dedication of the team, as well as Access Vascular's novel approach to addressing a critical unmet need in venous access. By leveraging its bulk hydrophilic biomaterial, Access Vascular's devices have the potential to eliminate thrombosis and the cascade of complications that arise with the currently available devices," said Arun Jagannathan, M.D., co-lead of angelMD Access Vascular Syndicate.
About angelMD
angelMD is an investment platform and marketplace connecting innovative medical startups, physicians, investors and industry partners. Leading physicians from all over the US have joined the angelMD Scientific Advisory Board and Leaders Club to help source, evaluate and advise companies in biotechnology, medical device and healthcare technology. For more information, visit www.angelmd.co.
About Access Vascular
Access Vascular was founded in 2015 to reinvent venous access using our novel bulk-hydrophilic biomaterial platform. We are developing superior venous access devices that address the key unmet need in the space—eliminating thrombotic risk. Our technology has the potential to improve care, decrease complications and reduce costs by eliminating complications resulting from thrombosis. Our lead product, the HydroPICC™, is a peripherally inserted central catheter with superior material performance that has been shown in lab testing to significantly reduce the accumulation of platelets and in turn, the risk of thrombosis. Our robust pipeline includes midlines, dialysis catheter, and ports, all in various stages of development. More information is available at www.accessvascularinc.com.
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SOURCE Access Vascular, Inc.
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