Vascular Therapies, a Cresskill, NJ-based clinical-stage biopharma company, raised $25M in funding.
The financing is comprised of existing and new investors, including a Fortune 100 global healthcare company.
The company intends to use the funds to further advance Sirogen.
Led by CEO John McDermott, and Chief Scientific Officer Sriram Iyer, MD, Vascular Therapies is a biopharma company developing Sirogen, a proprietary sirolimus formulation for local, perivascular drug delivery. The goal of this therapeutic approach is to improve vascular surgery outcomes in patients with kidney and vascular diseases. In the first Phase 3 clinical study (ACCESS), the primary end point was not achieved; however, a post-hoc subgroup analysis revealed significantly improved AV fistula maturation with therapeutic durability in end stage renal disease patients age 65 and older.
The Sirogen™ drug development program has received Fast Track status from the FDA and sirolimus has Orphan Drug designation for dialysis vascular access indications in the U.S. and E.U. Sirogen™ is an investigational product and has not been determined to be safe and effective for any use.
FinSMEs
30/03/2022