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news.Telesso Technologies, a pharmaceutical technology company, has entered into a strategic agreement with Vascular Pathways, or VPI, a medical device company, to fund a multi-center clinical trial of VPI's guidewire device and to potentially acquire VPI.
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Vascular Pathways’s (VPI’s) technology uses a retractable nitinol guidewire system which Telesso anticipates will result in faster and more reliable peripheral IV placement with less patient discomfort. Telesso believes that VPI’s 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 VPI’s clinical trials will be conducted at world-class hospitals in the US and Israel. Trial sites have been identified and the trial is scheduled to begin in the first quarter of 2009.
Michael Hoy, Telesso’s chairman, said: “We are very pleased that our team has identified VPI as a strategic partner. We believe that the market potential for VPI’s device and its potential follow-on products is quite significant. We look forward to reviewing the results of the trial.”