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Access Vascular Secures $3.7 Million In Financing



8/28/2017 8:18:20 AM

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BEDFORD, Mass., Aug. 28, 2017 /PRNewswire/ -- Access Vascular, a medical device company developing innovative venous access devices that eliminate thrombotic risk, today announced $3.7 million in funding from individual investors and angelMD, an investment platform and marketplace connecting innovative medical startups, 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.

Access Vascular is reinventing venous access with devices that leverage our proprietary bulk hydrophilic biomaterial to improve care, decrease complications and reduce costs. Initially focused on launching our HydroPICC device, a peripherally inserted central catheter with superior material performance that will address a critical need for devices that lower thrombotic risk and adverse events, we are in the early stages of developing hemodialysis, implantable ports and drug delivery devices.

"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 CEO of Access Vascular Inc.  

"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, M.D., co-lead of angelMD Access Vascular Syndicate.  

About angelMD
angelMD is an investment platform and marketplace connecting innovative medical startups, physicians, investors and industry partners. Leading physicians from all over the US have joined the angelMD Scientific Advisory Board and Leaders Club to help source, evaluate and advise companies in biotechnology, medical device and healthcare technology. For more information, visit www.angelmd.co.

About Access Vascular
Access Vascular was founded in 2015 to reinvent venous access using our novel bulk-hydrophilic biomaterial platform. We are developing superior venous access devices that address the key unmet need in the spaceeliminating thrombotic risk. Our technology has the potential to improve care, decrease complications and reduce costs by eliminating complications resulting from thrombosis. Our lead product, the HydroPICC, is a peripherally inserted central catheter with superior material performance that has been shown in lab testing to significantly reduce the accumulation of platelets and in turn, the risk of thrombosis. Our robust pipeline includes midlines, dialysis catheter, and ports, all in various stages of development. More information is available at www.accessvascularinc.com.

Media Contact
Helen Shik
1-617-510-4373
shik.helen10@gmail.com

 

View original content with multimedia:http://www.prnewswire.com/news-releases/access-vascular-secures-37-million-in-financing-300509856.html

SOURCE Access Vascular, Inc.


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