San Diego’s Access Scientific, which raised more than $2.6 million five months ago, has raised an additional $2 million, according to a regulatory filing yesterday. The company has begun the launch of its first new product, the “PICC Wand,” an all-in-one device intended to simplify the process of deploying a peripherally inserted central catheter line, a type of intravenous line that can remain in a patient for an extended period of time.
Access Scientific said in September that it has partnered with Pennsylvania-based Teleflex to distribute the medical device in the U.S. The company, which received FDA approval for the device in January, says its new product targets a $1 billion market and provides a safer and simpler way for doctors to use what’s called the “advanced Seldinger technique” to insert a catheter.
Steve Bierman, a doctor and inventor who sold his previous medical device company for $166 million in 2006, is the CEO at Access Medical. The company’s Form D regulatory filing did not identify the investors involved in the round. David Geliebter, managing partner of New York’s Carrot Capital Healthcare Ventures, continues to serve as the chair of Access Scientific’s board. Ellis Jones, CEO of the New York private equity firm Wasserstein & Co., also sits on the board.
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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