Cresskill biopharma company closes on $25M in private financing

Biopharma company Vascular Therapies on Tuesday announced it closed on $25 million in private financing from current and new investors, including a Fortune 100 global health care company.

The Cresskill-based company plans to use the proceeds to further advance Sirogen, which has indicated encouraging arteriovenous fistula outcomes in trials in elderly end-stage renal disease patients.

The proceeds are to fund ACCESS 2 — a randomized clinical trial evaluating Sirogen for improving hemodialysis AV fistula outcomes in high-risk patients with kidney disease.

“With this financing completed, we are now focused on initiating enrollment of the ACCESS 2 clinical study, which we expect to start in the second quarter of 2022,” John McDermott, CEO of Vascular Therapies, said.

“The elderly population is one of the fastest growing segments of the hemodialysis population and have higher AV fistula failure rates,” according to Chief Scientific Officer Dr. Sriram Iyer. “The ACCESS 2 clinical study is a 120-patient global randomized trial that aims to validate the encouraging post-hoc results of Sirogen in high-risk patients.”