Access Vascular has announced US$3.7m in funding from individual investors and angelMD, an investment platform and marketplace connecting innovative medical start-ups, physicians, investors and industry partners. This financing will help support submission of a 510(k) application later this year, for Access Vascular’s lead product, the HydroPICC, a superior peripherally-inserted central catheter.
“We appreciate the support and engagement of all our investors. This latest round of funding comes at a critical and exciting time for Access Vascular. We have added several talented engineers to the team as we advance our pipeline development and prepare for our first 510(k) submission to FDA later this year,” said James Biggins, founder, president and chief executive officer of Access Vascular.
“angelMD was impressed with the expertise and dedication of the team, as well as Access Vascular’s novel approach to addressing a critical unmet need in venous access. By leveraging its bulk hydrophilic biomaterial, Access Vascular’s devices have the potential to eliminate thrombosis and the cascade of complications that arise with the currently available devices,” said Arun Jagannathan, co-lead of angelMD Access Vascular Syndicate.