Velico Medical achieves two significant milestones in developing spray dried plasma for lifesaving point-of-care transfusions

Excerpt from the Press Release:

BEVERLY, Mass., Aug. 24, 2021 /PRNewswire/ — Velico Medical, an organization that is pioneering lifesaving innovation in transfusion medicine, today announced that the US Food and Drug Administration (FDA) has granted approval for the company to proceed with a Phase-I (human) clinical study for its proprietary FrontlineODP™(On Demand Plasma) system for spray drying plasma. As a result of FDA’s green light, the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services, executed a new contract (#75A50121C00059) with the company that will provide $20 million, with potential follow-on options up to a total of $74.3 million, in non-dilutive funding to support the continued research and development, scale up manufacturing and preparation for commercial launch. 

“This is a major step forward for Velico Medical. Our entire team and a broad range of external advisors have worked tremendously hard for a number of years to get us to this point. I thank the people at BARDA for their continued support. We are looking forward to a successful clinical study while at the same time expanding the company’s production and commercial capabilities,” said Velico Medical’s CEO Richard Meehan.

Click the button below to read the entire Press Release:

Continue Reading The Press Release