Vascular Therapies today announced the closing of US$25 million in private financing. The financing in question comprised of both existing and new investors, including a Fortune 100 global healthcare company.
Vascular Therapies plans to use the proceeds to further advance Sirogen—a proprietary sirolimus formulation for intraoperative, local, perivascular drug delivery—via clinical research, including with its ACCESS 2 study. In the company’s first Phase 3 clinical study, dubbed ACCESS, the primary endpoint was not achieved; however, a post-hoc subgroup analysis revealed significantly improved arteriovenous fistula (AVF) maturation with therapeutic durability in end-stage kidney disease patients aged 65 years and older.
Sriram Iyer, chief scientific officer of Vascular Therapies, said: “The elderly population is one of the fastest growing segments of the haemodialysis population and has higher AVF failure rates. The ACCESS 2 clinical study is a 120-patient, global randomised trial that aims to validate the encouraging post-hoc results of Sirogen in high-risk patients.”
Vascular Therapies CEO John McDermott added: “With this financing completed, we are now focused on initiating enrolment of the ACCESS 2 clinical study, which we expect to start in the second quarter of 2022. We would like to thank our investors for their support and shared commitment to advancing Sirogen as a new therapy to potentially improve arteriovenous access outcomes in haemodialysis patients.”
