Today Access Vascular 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.