Vascular Therapies is a clinical-stage biopharma developing Sirogen, a proprietary sirolimus formulation for local, perivascular drug delivery intended to improve vascular-surgery outcomes for patients with kidney and vascular diseases. The company plans to use the proceeds from the financing to further advance the Sirogen program. In its first Phase 3 study (ACCESS) the primary endpoint was not met, but a post-hoc subgroup analysis showed significantly improved AV fistula maturation with therapeutic durability in end-stage renal disease patients age 65 and older. The Sirogen program has received FDA Fast Track status, and sirolimus has Orphan Drug designation for dialysis vascular access indications in the U.S. and E.U. Sirogen remains an investigational product and has not been determined to be safe and effective for any use. The company is led by CEO John McDermott and Chief Scientific Officer Sriram Iyer, MD. Vascular Therapies is a clinical-stage biopharma developing Sirogen, a proprietary sirolimus formulation for intraoperative, local perivascular drug delivery to improve vascular surgery and dialysis vascular access outcomes. Sirogen is being evaluated in a U.S. Phase 3 randomized clinical trial performed under a Special Protocol Assessment; the program has FDA Fast Track status and sirolimus holds Orphan Drug designation for dialysis vascular access in the U.S. and E.U. The FDA has tentatively approved the proprietary tradename Sirogen, and the product remains investigational and unapproved. The company intends to use proceeds from its recent financing, together with existing cash resources, to complete data gathering and analysis from the Phase 3 study and to finish development and testing of Sirogen. Management expects to announce topline Phase 3 results in Q2 2020. Vascular Therapies, founded in 2001 and based in New Jersey, develops a patented drug‑eluting biocompatible biodegradable collagen implant called COLL‑R for intra‑operative per‑vascular implantation to address vascular anastomosis failure. The company has applied COLL‑R to deliver sirolimus locally to the vessel wall during hemodialysis transplant surgery, as reported in a 2012 paper. Vascular Therapies has kept a low public profile and reportedly has little web presence. Financially, the company last raised a $5.0M Series E in 2011. According to a regulatory filing it has now raised $16.2M of a potential $27M in an equity round. A call to CEO Sriram Iyer had not been returned at the time of reporting.

Total raised

$59M

Funding rounds

3

Latest round

Equity

Latest activity

Mar 2022