Access Vascular Raises $22 Million in Series C Financing

November 7, 2023—Access Vascular, Inc. (AVI), which is addressing vascular access complications with its advanced biomaterial platform, recently announced that it completed a Series C funding round worth $22 million from a consortium of new and existing investors.

According to the company, the financing will support a substantial increase in production capacity for the AVI Mimix hydrophilic biomaterial vascular access devices, which are designed to evade the foreign body reaction by mimicking the human body’s natural chemistry.

The funding will also support further research into the potential for Mimix to lower catheter infection rates, and expansion of AVI’s product portfolio.

October 17, AVI announced findings from a new, in vitro study showing a significant reduction in bacterial adhesion and thrombus accumulation in peripherally inserted central catheters (PICC) and midline catheters with the Mimix hydrophilic biomaterial. The study compared bacterial adhesion on two polyurethane-based catheters and the HBM using in vitro blood flow and static models. The findings were presented at AVA 2023, the annual scientific meeting of the Association for Vascular Access held October 14-17 in Portland, Oregon.

According to AVI, the Mimix material used in the company’s HydroPICC, HydroPICC Dual, and HydroMid catheters has demonstrated a six-fold decrease in complications compared with standard polyurethane catheter material.

In the data presented at AVA, there was a four-log reduction in bacterial adhesion using an in vitro blood loop model and a 96% reduction in thrombus accumulation, compared to a polyurethane catheter.