Portal Access, Inc. Secures Funding for Innovative Oncology Device
Exciting Development for Oncology Patients: Funding Achieved
Portal Access, Inc., a visionary medical device start-up specializing in advanced vascular access solutions, has successfully raised $7 million in a Series A financing round. This significant achievement has garnered overwhelming support from physicians and a prestigious U.S.-based venture capital fund, reflecting the strong belief in their groundbreaking Flexi-Port™ SLF-TANL™ device.
Visionary Leadership and Commitment to Innovation
Dr. Michael Tal, the Founder and CEO of Portal Access, expressed great enthusiasm about this funding milestone. He stated that it marks a vital step toward obtaining the necessary regulatory approval for the Flexi-Port™ SLF-TANL™ device. This innovative subcutaneous port is designed to streamline vascular access for oncology patients, significantly enhancing the treatment experience.
The funding will allow the company to initiate critical regulatory activities and submit a 510(k) application for FDA approval anticipated within a couple of years. Portal Access aims to launch this novel device in the U.S. market shortly after receiving approval, with the general market launch expected to follow soon after.
Transforming Cancer Care Delivery
Currently, almost half of cancer patients do not receive a chemotherapy port, often due to complications or delays. The Flexi-Port™ SLF-TANL™ aims to address this issue by providing a simpler, more efficient option that can be integrated into various care settings, reducing procedural risks and overall healthcare costs. This could lead to improved operational efficiency and a significantly enhanced patient experience in the cancer care continuum.
Pioneering Insights from Clinical Experts
Healthcare professionals have already lauded the device's innovative self-tunneling technology. Matthew Ostroff, RN, MSN, AGACNP, praises its effectiveness in treating vulnerable patients. He indicates that the Flexi-Port™ SLF-TANL™ offers a less invasive procedure, ensuring that placement can be achieved safely either at the bedside or in outpatient clinics. This approach aligns perfectly with the medical community's goal: to provide compassionate and dignified care to patients during sensitive treatment phases.
Angela Dotson, the Executive VP of Business Development at Portal Access, highlighted the unprecedented demand from physician investors during the funding round. The doctor's excitement and commitment to the Flexi-Port™ SLF-TANL™ exemplify both clinical validation and market readiness, which the company views as significant qualifications for a successful launch.
About Portal Access, Inc.
Portal Access, Inc. dedicates itself to devising innovative solutions aimed at mitigating complications associated with traditional chemotherapy port placements. Their flagship product, the Flexi-Port™ SLF-TANL™, is currently not available for purchase, as the company focuses on regulatory approval and market readiness.
Those interested in additional information about the upcoming launch, or those looking to connect with the company, can reach out to Angela Dotson, Executive VP of Business Development, via direct contact. Portal Access is thrilled to be at the forefront of this transformative technology that supports both clinical outcomes and patient satisfaction.
Frequently Asked Questions
What is the purpose of the Flexi-Port™ SLF-TANL™?
The Flexi-Port™ SLF-TANL™ is designed to simplify vascular access for oncology patients and improve the overall patient experience during chemotherapy treatment.
How much funding did Portal Access, Inc. secure?
Portal Access secured $7 million in a Series A financing round aimed at supporting the development and regulatory approval of their innovative device.
When is the expected market launch?
The market launch is anticipated shortly after FDA approval, which is expected to be sought within a couple of years.
Who led the investment in the Series A round?
Over 80% of the funding came from U.S. physician investors, including various specialties such as oncologists and vascular surgeons.
What is the vision behind Portal Access, Inc.?
Portal Access aims to revolutionize chemotherapy port placements by providing safe, minimally invasive options that enhance the patient experience and efficiency in care settings.
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