Access Vascular generates $20Mn in Series B Funding from TVM Capital

United States-based medical device company, Access Vascular, Inc. has announced securing funds of USD 20 million in its Series B funding round. The investment round was led by TVM Capital Life Science, who declared financing USD 15 million in the latest round.

Speculations have it that the new investment would be used to produce post-market information on its two commercial devices developed to reduce catheter occlusions and thrombus accumulation, while also commercializing the portfolio of products and expanding its profile of devices. Moreover, as a part of the investment, Principal Dr. Alexandra MacLean and Managing Director with TVM Capital Life Science, Dr. Luc Marengere, would join the Access Vascular Board of Directors.

As per credible reports, the company has gained a prominent name for its development of proprietary biomaterial platform, which is both lubricious and hydrophilic, and has implemented this material in two commercially-feasible venous access devices, HydroMID and HydroPICC Midline Catheters.

Commenting on the latest move, Access Vascular CEO- James Biggins- cited that the company is extremely pleased to establish an alliance with TVM Capital Life Science in a bid to augment its growth potential to a much larger scale.

He added that TVM’s commitment of partnering with the team of Access Vascular authenticates its conviction to continue addressing the critical issues in the vascular access space with its expanding portfolio of proprietary technologies.

Meanwhile, Managing Partner at TVM Capital Life Science, Luc Marengere, PhD, quoted that the firm believes that Access Vascular’s products and solutions can address the largest unaddressed needs in the vascular access space. He added that latter company’s exceptional biomaterial technology demonstrates a considerable reduction in the body’s biological response to the catheter, cutting down potential complications.

Mr. Marengere further mentioned that through this alliance, Access Vascular would now be able to bring their novel solutions to more patients, in an attempt to enhance outcomes and deliver higher procedure acuity.

Source Credit: https://www.businesswire.com/news/home/20210303005617/en/Access-Vascular-Inc.-Secures-20-Million-in-Series-B-Financing