SINGAPORE (Dec 12): Medical technology start-up Advent Access has raised $2.6 million in a pre-Series A financing round led by Accuron MedTech, Southeast Asia’s largest medical device company.
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.
Advent, a spinoff from the Agency for Science, Technology and Research (A*STAR), says the investments and collaboration will advance the development and commercialisation of its patented av-Guardian technology for vascular access in dialysis patients.
“We are excited to have Temasek-backed Accuron MedTech onboard,” says Peh Ruey Feng, the founder and chief executive officer of Advent. “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,” Peh adds.
Vascular access is essential for patients undergoing dialysis, providing a reliable site where the bloodstream can be easily accessed for each procedure.
av-Guardian is a 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.
It removes the need for placing dialysis needles, often the most stressful part of the treatment as ill-placed needles can cause complications and is the most common cause of hospitalisation in patients suffering end-stage renal disease.
“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 $100 billion global dialysis market,” says Abel Ang, Accuron’s group chief executive officer.
“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,” Ang adds.