Austin, Texas, medical device maker TVA Medical landed $9.5 million in a Series B financing round in support of the company’s efforts to further validate and win regulatory approvals for its minimally invasive end-stage renal disease therapy systems.
TVA’s catheter-based endovascular technology allows physicians to join arteries to veins, forming what’s called a "fistula," in order to deliver hemodialysis to patients suffering from kidney failure.
"The results to date suggest that durable arterio-venous fistulas can be safely and reproducibly created without surgery," TVA founder Dr. William Cohn said in prepared remarks. "The potential to significantly improve care for renal failure patients while decreasing the cost of dialysis delivery is substantial."
The device is amid studies outside the U.S., and some of the new funding will go toward continued attempts to win international regulatory approvals. TVA plans to seek FDA review in the future, the company said.
The Series B funding round was led by S3 Ventures and joined by TriStar Technology Ventures and existing investor Santé Ventures, according to a press release.