Access Vascular Secures $20 Million in Series B Financing

March 3, 2021—Access Vascular, Inc. announced it has closed on a Series B round of financing totaling $20 million. The new funds will be used to generate postmarket data on the company’s two commercial venous access devices that are designed to reduce thrombus accumulation and catheter occlusions. Additionally, the company will use the money to expand its portfolio of devices and commercialize the portfolio of products.

According to Access Vascular, the HydroPICC peripherally inserted central catheter and HydroMid midline catheter incorporate the company’s hydrophilic and lubricious biomaterial platform. 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, stated the company.

On February 11, 2021, the company announced FDA clearance of the HydroMid device, which is a 4-F, single-lumen midline catheter with a maximum usable length of 20 cm.

The company advised that TVM Capital Life Science led the financing round with a $15 million commitment, with existing investors also participating. As part of the investment, Managing Partner Luc Marengere, PhD, and Principal Alexandra MacLean, MD, with TVM Capital Life Science, will join the Access Vascular Board of Directors.