Access Vascular to Ramp Production With $22 Million Series C Financing

Access Vascular, Inc. (AVI), a company addressing the most common and costly vascular access complications with its advanced biomaterial platform, today announced that it raised a Series C round worth $22 million from a consortium of new and existing investors.

The financing will support a substantial production capacity increase for the unique MIMIX™ hydrophilic biomaterial vascular access devices developed by AVI, which are designed to evade the foreign body reaction by mimicking the human body’s natural chemistry, as well as further research into the potential for MIMIX to lower catheter infection rates, and expansion of AVI’s product portfolio.

“AVI is poised to have a substantial impact on vascular access complications and their associated costs,” said James Biggin, founder and CEO of Access Vascular. “This funding, coupled with increasing demand for our ground-breaking catheters, and new data showing reduced bacterial adhesion, is yet another milestone on our path to transforming the standard of care for vascular access.”

The patented MIMIX™ material used in AVI’s HydroPICC®, HydroPICC® Dual, and HydroMID® catheters has demonstrated a six-fold decrease in complications compared with standard polyurethane catheter material.i Recently presented data showed a four-log reduction in bacterial adhesion using an in vitro blood loop model and a 96 percent reduction in thrombus accumulation, compared to a polyurethane catheter.ii

Complications related to vascular access, which can run to more than $20,000 per incident, cost the U.S. healthcare system approximately $4.5 billion dollars annually – notwithstanding the potential for long-term adverse effects for patients.iii The innovative MIMIX™ biomaterial’s proven ability to lower complication rates has the potential to make a substantial impact on those numbers.

Medical Device News Magazine
Medical Device News Magazine provides our readership with breaking medical device / biotechnology news. Our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

More News!

MMI notes the funds will support commercialization of the Symani® Surgical System in high-growth markets and continued investment in studies that generate clinical evidence and enable indication expansion. Investments will also accelerate advanced technology capabilities and enable MMI to scale its operational capabilities globally.
“We are excited to begin our journey as a public company with this additional investment. We believe Tevogen’s patient-centric approach, which merges a focus on affordability with advanced science, is a blueprint for sustainable success in the current era of healthcare. I am pleased that investors now have the opportunity to participate in Tevogen’s mission to become the very first life science company offering commercially attractive and affordable personalized T cell therapies for large patient populations in virology, oncology, and neurology, said the CEO of Tevogen Bio.
MB2 Dental notes the financing will be used to fund upcoming acquisitions and future growth for the company, following a record year of growth in 2023 with 150 new partnerships.
Procyrion notes the funding will support the DRAIN-HF pivotal IDE trial evaluating the company's Aortix pump, internal R&D programs to improve manufacturability, and commercialization preparation.
PhotoniCare, in January of this year, announced that the U.S. Food and Drug Administration had granted clearance for its TOMi™ Scope for non-invasive imaging of the middle ear.

By using this website you agree to accept Medical Device News Magazine Privacy Policy