Michael Barbella, Managing Editor03.29.21
Access Vascular Inc. has received a $20 million replenishment of funds from several investors.
Leading the firm's latest round of Series B financing was TVM Capital Life Science, which committed $15 million. Other investors placed a stake in the company's financial future as well.
“We are extremely pleased to partner with TVM Capital Life Science, a world-class venture capital firm with an extensive track record of successfully investing in, and supporting, early-stage commercial companies in order to maximize their growth potential,” said Access Vascular CEO James Biggins. “Their commitment to partnering with Access Vascular validates our conviction to continue solving critical issues in the vascular access space with our growing portfolio of proprietary technologies.”
Access Vascular has developed a proprietary biomaterial platform that is both hydrophilic and lubricious, and has incorporated this material into two commercially-available venous access devices, the HydroPICC Peripherally Inserted Central Catheter and HydroMID Midline Catheter. In vitro studies have shown that this biomaterial technology results in an average of 97 percent less thrombus accumulation on its surface compared to a standard polyurethane catheter.*
The new financing will be used to generate post-market data on its two commercial devices designed to reduce thrombus accumulation and catheter occlusions, expand its portfolio of devices, and commercialize the portfolio of products.
“We believe that Access Vascular’s products can address the biggest unmet needs in the vascular access space. Their unique biomaterial technology shows a substantial reduction in the body’s biological response to the catheter, minimizing potential complications,” said Luc Marengere, Ph.D., managing partner, TVM Capital Life Science. “With our partnership, Access Vascular will be able to bring their innovative solutions to more patients, with the intent to improve outcomes and deliver higher procedural acuity.”
As part of the investment, Managing Partner Dr. Luc Marengere and Principal Dr. Alexandra MacLean, with TVM Capital Life Science, will join the Access Vascular Board of Directors.
Leading the firm's latest round of Series B financing was TVM Capital Life Science, which committed $15 million. Other investors placed a stake in the company's financial future as well.
“We are extremely pleased to partner with TVM Capital Life Science, a world-class venture capital firm with an extensive track record of successfully investing in, and supporting, early-stage commercial companies in order to maximize their growth potential,” said Access Vascular CEO James Biggins. “Their commitment to partnering with Access Vascular validates our conviction to continue solving critical issues in the vascular access space with our growing portfolio of proprietary technologies.”
Access Vascular has developed a proprietary biomaterial platform that is both hydrophilic and lubricious, and has incorporated this material into two commercially-available venous access devices, the HydroPICC Peripherally Inserted Central Catheter and HydroMID Midline Catheter. In vitro studies have shown that this biomaterial technology results in an average of 97 percent less thrombus accumulation on its surface compared to a standard polyurethane catheter.*
The new financing will be used to generate post-market data on its two commercial devices designed to reduce thrombus accumulation and catheter occlusions, expand its portfolio of devices, and commercialize the portfolio of products.
“We believe that Access Vascular’s products can address the biggest unmet needs in the vascular access space. Their unique biomaterial technology shows a substantial reduction in the body’s biological response to the catheter, minimizing potential complications,” said Luc Marengere, Ph.D., managing partner, TVM Capital Life Science. “With our partnership, Access Vascular will be able to bring their innovative solutions to more patients, with the intent to improve outcomes and deliver higher procedural acuity.”
As part of the investment, Managing Partner Dr. Luc Marengere and Principal Dr. Alexandra MacLean, with TVM Capital Life Science, will join the Access Vascular Board of Directors.
