Telesso Technologies Limited announced today it has entered into a strategic agreement with Vascular Pathways, Inc. (VPI), a Delaware company based in California, to fund a multi-center clinical trial of VPIs guidewire device and to potentially acquire VPI.
VPIs technology uses a first-in-class retractable nitinol guidewire system which Telesso anticipates will result in faster and more reliable peripheral IV placement with less patient discomfort. Telesso believes that VPIs device is the first clinically meaningful advancement in peripheral IV access since automatic needle retraction catheters and addresses significant unmet needs in peripheral intravenous access.
Telesso expects that VPIâ€™s clinical trials will be conducted at world-class hospitals in the US and Israel. Peter Rosenthal, Ph.D., a member of the VPIâ€™s board of directors, commented, I am delighted to enter into this relationship with Telesso Technologies. Since our technology already has FDA approval, our clinical trial of roughly 300 patients is designed to be a side-by-side comparison with traditional catheters to clearly measure our deviceâ€™s distinct advantages.â€ Trial sites have been identified and the trial is scheduled to begin in Q1-2009.