Singapore, Oct. 04, 2018 (GLOBE NEWSWIRE) --
-- Advent’s IP portfolio now one of the industry’s most extensive in technology-assisted use of AV fistulas
-- Acquisition provides access to key US market for Advent’s technologies
Singapore, 4 October 2018 – Advent Access (Advent), one of Singapore’s most innovative medtech companies with a focus in end stage renal disease management, today announced that it has acquired the global manufacturing and commercialization rights to the Vwing™ Vascular Needle Guide product line and other key assets from Vital Access (the Acquisition), a vascular technology company headquartered in the US. The Acquisition is in line with Advent’s strategy to establish a leading portfolio of vascular access solutions with the potential to address the key gaps in enabling hemodialysis to be delivered in novel or alternative care environments.
Vwing™ is an implantable device designed to facilitate safe and reliable access to arteriovenous fistulas (AVF) in obese patients suffering from end stage renal disease undergoing hemodialysis. AVF is widely considered the “lifeline” through which hemodialysis patients gain access to their blood for cleaning via a dialysis machine. Vwing™ is a US FDA 510(k) cleared device which is currently marketed in the United States and also approved for use in markets including Europe, Canada and New Zealand.
The Vwing™ technology provides access to very deep fistulas and complements Advent’s av-Guardian™ technology, which is designed to be easily implantable for the majority of other fistula types. Acquiring the manufacturing and commercialization rights enhances Advent’s potential global customer base and intellectual property portfolio. The total number of patents and applications owned or exclusively licensed by Advent Access increases to 43, with a total of 510 issued claims and a wide geographical reach across America, Europe and Asia following the Acquisition.
While innovative solutions to create fistulas exist, providing reliable access to use them remains the most challenging and stressful part of delivering hemodialysis treatment. Advent aims to make dialysis therapies more comfortable, effective and cost efficient for patients, healthcare providers and payers by developing a broad suite of solutions to overcome the issues associated with AVF use.
Peh Ruey Feng, Founder and Chief Executive Officer of Advent Access, said: “This acquisition is a strategic move to broaden our vascular access portfolio and accelerate our access to key global markets, particularly the US. Advent now owns one of the industry’s most extensive IP portfolios in technology-assisted use of AV fistulas. Together with our core technology, the av-Guardian™, we have the opportunity to create a leading portfolio of vascular access solutions, with the potential to enable hemodialysis to be provided beyond traditional care settings.”
Advent Access recently announced the completion of all regulatory submission and key audits for the CE Mark in the European Union (EU) for av-Guardian™ and is on track to gain CE approval in early 2019.
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For more information, please contact:
Peh Ruey Feng / Ye Hongye
Advent Access
+65 9112 6551
corporate@adventaccess.com
Emma Thompson / Clarinda Ng
Spurwing Communications
+65 6340 7287
advent@spurwingcomms.com
About Advent Access
Advent Access is a medical technology startup focused on end-stage renal disease management. Founded on the principles of Stanford Biodesign and as a spin-off from A*STAR, Advent Access’ mission is to pioneer innovations to significantly reduce dialysis cost and restore quality of life for kidney failure patients. Advent Access’ first product is the av-Guardian™ - an award-winning implant technology that aims to improve vascular access reliability, enable less-painful self-cannulation and in the long run, potentially reduce vascular access surgeries or hospitalizations. The av-GuardianTM forms a key component of Advent Access’ dialysis-machine agnostic platform to transform hemodialysis to be performed independently, safely and more affordably. Centered around the patient, the av-GuardianTM and the self-care platform seek to enable labour-light dialysis to be delivered in novel or alternative care environments. For more information on Advent Access, please visit www.adventaccess.com