04 October 2018 | News
Acquisition provides access to key US market for Advent’s technologies.
Singapore – Advent Access, one of Singapore’s most innovative medtech companies with a focus in end stage renal disease management, 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 toenable 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.