Access Vascular recently announced it has closed on a Series B round of financing. TVM Capital Life Science led the round with a US$15 million commitment, with existing investors also participating.
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% 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 commercialise the portfolio of products.
“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 maximise 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.”
“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, 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 Luc Marengere and principal Alexandra MacLean, with TVM Capital Life Science, will join the Access Vascular Board of Directors