TVA Medical said today it raised $15 million in a Series C financing round to support its everlinQ endoAVF system for creating minimally invasive hemodialysis access for patients with chronic kidney disease.
The catheter-based system is designed to create an AV fistula used for hemodialysis access. The system uses 2 magnetic catheters which are inserted into an artery and vein in the arm and used to connect the artery and vein to create a fistula, TVA Medical said.
The Series C round was led by newly vested Baxter (NYSE:BAX) Ventures and joined by new investor Boston Scientific (NYSE:BSX) and returning investors Sante Ventures, S3 Ventures and TriStar Technology Ventures, the company said.
“We are committed to providing kidney failure patients and caregivers with a minimally invasive endovascular arteriovenous fistula option. This financing strengthens our ability to bring the innovative everlinQ endoAVF System to the global market,” TVA Medical CEO Adam Berman said in a press release.
The new funds will support continued clinical testing and market development of the system, Austin, Texas-based TVA Medical said. The company said funds will also support its ongoing Neat trial, which it expects to receive 12-month follow up data from in 2016.
In June 2013, TVA Medical said it landed $9.5 million in a Series B financing round in support of the company’s efforts to further validate and win regulatory approvals for its minimally invasive end-stage renal disease therapy systems.
The post TVA Medical raises $15m Series C for everlinQ appeared first on MassDevice.
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