News | August 19, 2014

Bluegrass Vascular Raises $4.5 Million in Financing to Commercialize Venous Access System

August 19, 2014 — Bluegrass Vascular Technologies closed $4.5 million in Series A financing, that will allow the company to obtain CE mark for the Surfacer Inside-Out Access Catheter System. Funds will also be used to enhance manufacturing capabilities, and proceed with U.S. regulatory submissions. The Surfacer System is a proprietary system that allows physicians to gain venous access using a novel inside-out approach.

"The Surfacer System addresses a significant unmet clinical need in the vascular access market by allowing physicians to gain access through a previously occluded vein," stated Alan Dean, senior managing director of Targeted Technology Fund II, and Bluegrass Vascular director. "With a growing market awareness of central venous occlusion and interest in maintaining access, we believe Bluegrass Vascular is well positioned to have a strong presence in the dialysis and chemotherapy markets and is a valued addition to our investment portfolio."

The Targeted Technology Fund is a venture capital firm focused on early stage healthcare companies that offer disruptive technologies with compelling market needs. A leader in funding medical technology innovation in the Southwest, Targeted Technology Fund II stated that Bluegrass Vascular will relocate their headquarters to San Antonio as part of the deal.

Approximately 6.5 million patients, worldwide, require central venous access (CVA) for medical treatment and it is estimated that more than 40 percent of those patients will develop a venous thrombosis, which may compromise their medical care. After all central veins become compromised, patients must resort to invasive surgical techniques to gain or maintain CVA. The Surfacer System maintains access in an occluded vein, halting the progression to invasive surgery and downstream health risks associated with poor circulation, using a less risky inside-out approach.

"This financing enables us to pursue CE mark applications and take us one step closer to providing a better solution for patients with venous obstruction," commented Jim Clifton, CEO of Bluegrass Vascular. "The Targeted Technology Funds have a strong track record of bringing ground-breaking medical technology to market. We are pleased they share our vision for the Surfacer System and we look forward to commercializing the product in Europe and United States."

For more information: www.bluegrassvascular.com

Related Content

Sponsored Content | Videos | Peripheral Artery Disease (PAD)| July 25, 2017
This video case study, provided by Gore Medical, is titled "Tackling Complex Cases in Dialysis Access," by John Ross,
ACCESS PTS Study Demonstrates Efficacy of EKOS Therapy for Post-Thrombotic Syndrome
News | Deep Vein Thrombosis| July 07, 2017
BTG plc recently highlighted the results of the ACCESS PTS trial, presented at the Society for Vascular Medicine 28th...
Sponsored Content | Videos | Venous Therapies| June 27, 2017
This video, provided by Ekos, demonstrates the EkoSonic endovascular System thrombolytic system to treat deep vein th
New Data Demonstrate Clinical and Quality-of-Life Benefits for VenaSeal Closure System in Venous Reflux Disease Patients
News | Venous Therapies| May 05, 2017
Medtronic plc recently announced three-year outcomes from the VeClose U.S. pivotal clinical trial and one-year data...
News | Venous Therapies| April 26, 2017
A new Varicose Vein Registry has begun producing useful outcomes information, as reported in the May edition of the...
Merit Medical, FDA Class I recall, Prelude Short Sheath Introducer
News | Vascular Access| March 31, 2017
The U.S. Food and Drug Administration (FDA) announced it has initiated a Class I recall of the Merit Prelude Short...
Halo One Thin-Walled Guiding Sheath

The Halo One Thin-Walled Guiding Sheath.

News | Vascular Access| January 31, 2017
January 31, 2017 — Bard Peripheral Vascular Inc.
Technology | Vascular Access| January 10, 2017
January 10, 2017 — Teleflex Inc.
Vascular Solutions, Teleflex
Feature | December 07, 2016
December 7, 2016 — Teleflex Inc. and Vascular Solutions Inc.
Teleflex, AVA 2016 Congress, Association for Vascular Access
News | Vascular Access| September 20, 2016
September 20, 2016 — Teleflex Inc.
Overlay Init