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[junkie-alert style=”red”] angelMD announced today an investment syndicate with Access Vascular Inc., a company developing innovative venous access devices. Arun Jagannathan, MD and Orrin Ailloni-Charas, MD, MBA, are leading the company’s first syndicate with angelMD. [/junkie-alert]
Access Vascular is currently developing superior venous access devices using a proprietary bulk-hydrophilic biomaterial process that reduces the risk of thrombosis, a leading cause of complications, delayed care and higher costs. Their robust pipeline of catheters, ports and drug delivery devices are stronger, more lubricious and more anti-thrombogenic than current technology, addressing the key technology deficiencies of current catheters and other venous access devices. The company’s lead product, the HydroPICC, a peripherally inserted central catheter with superior material performance, has the potential to eliminate thrombotic risk and transform care.
In benchtop biocompatibility and preclinical testing, the HydroPICC was shown to significantly reduce thrombogenicity, demonstrating the potential for superior clinical outcomes and lower health care costs compared with existing technologies. A 510(k) application for the HydroPICC will be submitted to the Food and Drug Administration (FDA) in third quarter of this year.
“Working with angelMD has been invaluable. In addition to the financial investment in Access Vascular, the strategic counsel and guidance from syndicate physicians has been extremely helpful at a time of growth for our company. We remain steadfast in our mission to reinvent venous access with superior devices that reduce costs and improve care,” said James Biggins, founder, president and CEO of Access Vascular, Inc. “This latest round of financing will support submission to FDA of a 510(k) application for our lead product, the HydroPICC, the first device enabled by our proprietary bulk hydrophilic biomaterial platform.”
Arun Jagannathan, MD, one of the two syndicate leaders said, “Central venous catheter access is an integral component of both short and long-term health care delivery for critically ill as well as chronically ill patients. Complications related to catheter malfunction and dysfunction due to thrombosis and infection are a major contributor to patient morbidity and mortality. The novel hydrogel-based product platform developed by Access Vascular has the potential to drastically improve this.”
“My experiences as a member and syndicate leader with angelMD have been wonderfully educational and challenging. I have had the opportunity to learn the entrepreneurial side of medicine and utilize my sub-specialized knowledge base in ways I had not been able to through my clinical practice,” Jagannathan concluded.
Jagannathan is a radiologist who received his medical degree at the University of Illinois College of Medicine. Ailloni-Charas is a practicing physician in Northern California, and he received his medical degree at the New York University School of Medicine before going on to earn an MBA at Columbia University.