TVA Medical is developing a minimally invasive therapy for end-state renal disease, everlinQ, endoAVF System, and to progress that effort, they have now brought in $15 million with investor financing.
The Series C investing comes with the financial input from Baxter Ventures and Boston Scientific Corporation, primarily. Existing investors include Santé Ventures, S3 Ventures, TriStar Technology Ventures and other strategic investors, according to a statement.
As the statement described: The everlinQ, endoAVF System is a catheter-based technology designed to create hemodialysis access for chronic kidney disease patients. Funds will support the ongoing Novel Endovascular Access Trial (NEAT) clinical study (12-month follow up to complete in 2016) and additional global clinical research, as well as device reimbursement and market access initiatives.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
“We are committed to providing kidney failure patients and caregivers with a minimally invasive endovascular arteriovenous (AV) fistula option,” said Adam L. Berman, president & chief executive officer of TVA Medical. “This financing strengthens our ability to bring the innovative everlinQ endoAVF System to the global market.”
