Venova Medical Announces $30 Million Series B Financing and Appointment of New Board Member
Summary
The Velocity pAVF System is designed to provide optimal and durable fistula flow to support maturation and clinical use for hemodialysis. The percutaneous procedure is designed to be performed in an office, surgery center or outpatient hospital setting.Providing a safe, effective and long-lasting method for vascular access is a significant challenge in hemodialysis treatment for patients with kidney failure, said Darshana Zaveri. Venova Medicals technology aims to overcome the limitations of these traditional approaches, offering a transformative solution for patients dependent on hemodialysis.Despite decades of tremendous efforts from healthcare providers, the vast majority of patients starting dialysis do so with a central venous catheter, subjecting them to increased risk of morbidity and mortality and cost to the U.S. healthcare system as compared to the safer AVF procedure, stated Erik van der Burg, CEO of Venova Medical. Venova Medical has completed enrollment in a prospective, single center VENOS-1 clinical trial (NCT05757726) to evaluate the safety and feasibility of Velocity pAVF System in patients on hemodialysis who are candidates for AVF. VENOS-1 results will be presented at the Controversies in Dialysis Access Conference (CiDA) on October 5, 2024.This release contains forward-looking statements, which represent estimates and assumptions with respect to certain future events, which are subject to significant risks and uncertainties.