- Fundraise is the largest pre-Series A financing round by a
medtech startup in Southeast
Asia
- New funds will be used to submit CE-mark filing of
av-Guardian™ in preparation for global commercialisation and to
complete ongoing international clinical trial
- Accuron MedTech leads investment into Advent Access'
dialysis-disrupting technology
SINGAPORE, Dec. 12, 2017 /PRNewswire/ -- Advent Access
(Advent), one of Singapore's most
innovative medtech companies, today announced that it has closed a
pre-Series A financing round, having raised S$2.6 million in investments and collaboration to
advance the development and commercialisation of its patented
av-Guardian™ technology for vascular access in dialysis patients.
The financing was led by Accuron MedTech (Accuron), the largest
medical device company in Southeast Asia.
The investment was made through the Med Tech Alliance, an
accelerator appointed by Singapore's SPRING SEEDS Capital to facilitate
the growth of start-ups in the local medtech industry.
Peh Ruey Feng, Founder and
Chief Executive Officer of Advent Access, said: "We are
excited to have Temasek-backed Accuron MedTech onboard. Abel
and the Accuron team bring deep experience in growing technologies
from Asia, breadth in accessing
international markets and financial depth in nurturing startups
that will set us apart regionally and internationally. Advent
Access is now well equipped to accelerate the development of
av-Guardian™ and tackle some of the most pressing needs in end
stage renal disease. Working closely with Accuron, we look forward
to unlocking the future of independent dialysis."
Vascular access is essential for patients undergoing dialysis,
providing a reliable site where the bloodstream can be easily
accessed for each procedure. However, placing dialysis needles is
often the most stressful part of the treatment. If the needles are
not well placed, complications can arise and dialysis is
inadequately performed. It is the most common cause of
hospitalisation in patients suffering end stage renal disease,
directly impacting the cost efficiency of the treatment and the
quality of life of patients.
Advent Access has developed the av-Guardian™, an award-winning
device-guided needling platform that engineers a high-quality
tissue track to enable reliable and less-painful vascular access to
the arteriovenous fistula (AV fistula) commonly used by dialysis
patients. The av-Guardian™ is the world's first medical device to
pioneer the concept of a "guardian guide-door" to the AV fistula
that is non-invasive to the vessel, significantly reducing wear and
tear on the dialysis patient's vein and resulting in a reduction in
hospitalisation and surgery. The funds raised will be used to
advance av-Guardian™ towards a filing for CE mark registration
within the next 18 months, a major milestone in making the device
available to patients globally.
Advent is a spin-off from the Agency for Science, Technology and
Research (A*STAR). The company has been working with ETPL, the
commercialisation arm of A*STAR, in technology productisation and
clinical validation.
Abel Ang, Group Chief
Executive of Accuron MedTech, commented: "We are excited to
lead the pre-Series A investment in Advent Access given the
company's strong progress and potential to transform and optimise
how care is provided to patients in the S$100 billion global dialysis
market[i]. As Southeast
Asia's largest medical device company, this investment
reflects our continued belief in Asia's vibrancy as a hub for disruptive
healthcare technologies to develop and thrive. Our investment in
Advent Access is Accuron MedTech's tenth transaction in building a
strong portfolio of the most promising innovations which can make a
significant difference to healthcare outcomes in Asia and around the world."
Results from a recently completed clinical study of av-Guardian™
showed that the device is safe, achieves its clinical performance
and can be considered a significant support for chronic dialysis
patients. The study was conducted in Singapore with Singapore General Hospital,
National University Hospital, and
supported by National Kidney Foundation. Advent will publish
the full study results in early 2018. A second clinical study
has commenced and is recruiting patients internationally.
[i]
https://www.marketsandmarkets.com/Market-Reports/dialysis-market-1279.html?gclid=EAIaIQobChMIv9v7i-fd1wIV2RwrCh3IgwZzEAAYASAAEgIFzvD_BwE
|
For more information, please contact:
Peh Ruey Feng / Ye
HongYe
|
Stephanie Tan /
Emma Thompson / Clarinda Ng
|
Advent
Access
|
Spurwing
Communications
|
+65 3163
6216
|
+65 6340
7287
|
corporate@adventaccess.com
|
accuron@spurwingcomms.com
|
About Advent Access
Advent Access is a medical technology start-up in end stage
renal disease management. Founded based on Stanford Biodesign
principles and as a spin-off from A*STAR, Advent's mission is to
pioneer innovations to significantly reduce dialysis cost and
restore quality of life for kidney failure patients in Asia and across the world. Advent Access'
first product is the av-Guardian™ - a device that improves vascular
access reliability, reduces cannulation pain and, in the long run,
preserves the health of an arteriovenous fistula. The av-Guardian™
forms a key component of Advent Access' dialysis-machine agnostic
platform to empower patients to perform hemodialysis independently,
safely and more affordably. For more information on Advent Access,
please visit www.adventaccess.com
About Accuron MedTech
Accuron MedTech is the largest medical device company in
Southeast Asia. It is a global
medical technology leader with a core focus in urology devices and
services. Headquartered in Singapore, with operations in US, Germany, Spain, France, Italy, China,
Malaysia and Japan, the Company serves millions of patients
and physicians in 100 countries worldwide. Accuron MedTech makes
strategic investments in disruptive medical technology companies,
strengthening its portfolio of healthcare solutions for customers
around the world. Accuron MedTech is an independent division of
Accuron Technologies, a wholly-owned subsidiary of Temasek
Holdings. For more information on Accuron MedTech, please visit
http://www.accuron.com/accuron-medtech.
About the Med Tech Alliance
Established in 2014, the Med Tech Alliance is a Singapore accelerator investing in medtech
start-ups. It comprises of Accuron MedTech and Mr Lu Yoh-Chie, Former Executive Chairman
BioSensors. Their collective experience and insights provides the
Med Tech Alliance the ability to shorten the learning curve for
start-ups in the commercialization process.
Logo -
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