Access Vascular: $22 MIllion Raised To Address Vascular Access Complications

By Annie Baker ● Nov 3, 2023

Access Vascular – a company addressing the most common and costly vascular access complications with its advanced biomaterial platform – recently announced that it raised a Series C round worth $22 million from a consortium of new and existing investors.

This funding round will support a substantial production capacity increase for the unique MIMIX hydrophilic biomaterial vascular access devices developed by AVI, which are designed to evade the foreign body reaction by mimicking the human body’s natural chemistry, as well as further research into the potential for MIMIX to lower catheter infection rates, and expansion of AVI’s product portfolio.

The patented MIMIX material used in AVI’s HydroPICC, HydroPICC Dual, and HydroMID catheters has demonstrated a six-fold decrease in complications compared with standard polyurethane catheter material. And recently presented data showed 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.ii

The complications related to vascular access – which can run to more than $20,000 per incident – cost the U.S. healthcare system approximately $4.5 billion dollars annually – notwithstanding the potential for long-term adverse effects for patients. And the innovative MIMIX biomaterial’s proven ability to lower complication rates has the potential to make a substantial impact on those numbers.

KEY QUOTES:

“AVI is poised to have a substantial impact on vascular access complications and their associated costs. This funding, coupled with increasing demand for our ground-breaking catheters, and new data showing reduced bacterial adhesion, is yet another milestone on our path to transforming the standard of care for vascular access.”

— James Biggin, founder and CEO of Access Vascular