Vascular Therapies completes $25 million private financing
Vascular Therapies, Inc. a clinical-stage biopharma company focused on improving vascular access outcomes in patients with kidney disease, has announced the closing of a $25 million private financing. The financing comprised of existing and new investors, including a Fortune 100 global healthcare company.
Vascular Therapies plans to use the proceeds to further advance SirogenTM, a proprietary sirolimus formulation for intraoperative, local, perivascular drug delivery. In the company’s first Phase 3 clinical study (ACCESS), the primary end point was not achieved; however, a post-hoc subgroup analysis revealed significantly improved AV fistula maturation with therapeutic durability in end stage renal disease patients age 65 and older.
Sriram Iyer, MD, Chief Scientific Officer of Vascular Therapies commented “the elderly population is one of the fastest growing segments of the hemodialysis population and have higher AV fistula failure rates. The ACCESS 2 clinical study is a 120-patient global randomized trial that aims to validate the encouraging post-hoc results of SirogenTM in high-risk patients”.
John McDermott, Chief Executive Officer of Vascular Therapies added “With this financing completed, we are now focused on initiating enrollment of the ACCESS 2 clinical study, which we expect to start in the second quarter of 2022. We’d like to thank our investors for their support and shared commitment to advancing SirogenTM as a new therapy to potentially improve AV access outcomes in hemodialysis patients”.
About Vascular Therapies, Inc.
Vascular Therapies is a privately held, biopharma company developing SirogenTM, a proprietary sirolimus formulation for local, perivascular drug delivery. The goal of this therapeutic approach is to improve vascular surgery outcomes in patients with kidney and vascular diseases. The SirogenTM drug development program has received Fast Track status from the FDA and sirolimus has Orphan Drug designation for dialysis vascular access indications in the U.S. and E.U. The FDA has tentatively approved the proprietary tradename SirogenTM. SirogenTM is an investigational product and has not been determined to be safe and effective for any use. For more information, please go to www.vasculartx.com.
Chief Executive Officer Vascular Therapies, Inc.