TVA Medical, Inc., is an Austin, Texas-based medical device developer that is focusing on developing minimally invasive therapies designed to treat end-stage renal disease. The company has been at work since 2008, and just announced in a press release the accumulation of $9.5 million in new funding.
The Series B financing is coming from existing investor Santé Ventures, along with S3 Ventures and TriStar Technology Ventures. The accumulated $9.5 million in funding will be used to further clinical studies on the company’s “minimally invasive catheter-based system that allows physicians to create an arterio-venous fistula (joining an artery to a vein) to deliver hemodialysis to patients suffering from kidney failure” according to the press release.
With the funding, the TVA Medical will be able to further their studies on this system that can reduce the cost of dialysis while also improving a patient’s chances for survival. Adam L. Berman, CEO of TVA Medical said of the company’s goals and plans: “As a medical device company we believe there is an opportunity to improve outcomes for these patients while reducing healthcare costs.”
Currently, $47 billion is typically spent on treatments for the disease and 49% of those patients die within three years of beginning treatment. With the recent funding received by TVA Medical, that could all change in the very near future.