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Vital Access closes $10 million deal to fund vascular needle guide for dialysis patients
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Vital Access Corp. has closed a $10 million credit facility with Deerfield Management, a health care investment firm. Proceeds from the financing will be used to fund Vital Access' global expansion of its VWING Vascular Needle Guide and for further investment in the company's proprietary vascular access platform.
"Vital Access is very pleased to have Deerfield as a financial partner. Deerfield is a health care investor with great depth of experience and resources," said Doug Smith, President and CEO of Vital Access. "With their support, we will work to establish VWING as the gold standard for easier and more durable AV Fistula access for dialysis."
VWING Vascular Needle Guide is a patented implantable accessory device designed to facilitate safe and reliable access to arteriovenous fistulas (AVF) in hemodialysis patients.
In the SAVE study, a prospective, multi-center, US pivotal clinical trial, VWING was shown to provide reliable fistula access in 96% of patients who had been determined to have uncannulatable fistulas. Long-term follow up results show VWING patients in the SAVE study have experienced significantly lower incidence of access site and systemic infection than USRDS published rates for AV Fistula access.
"In many patients, palpating and cannulating the arteriovenous fistula is challenging; the use of VWING is demonstrated to improve cannulation success with fewer attempts, thereby improving the experience for patients and health care professionals and providing a safe alternative for establishing cannulatable fistulas," said Avi Kometz, a partner at Deerfield. "We are pleased to partner with Vital Access to advance the company's commercialization of VWING."