COLUMBIA, S.C., Apr 23, 2012 (BUSINESS WIRE) -- SCRA's Technology Ventures sector, which manages the commercialization and economic development program SC Launch, today announced the selection of SC Launch Portfolio Company CreatiVasc for the FDA's Innovation Pathway Program. CreatiVasc has developed an innovative device, called the Hemoaccess Valve System(R), for dialysis patients. This device has the potential to significantly reduce the complications, costly interventional surgery and suffering associated with End Stage Renal Disease patients on dialysis.

The FDA's new Innovation Pathway program uses collaboration with innovators to speed important medical devices to market while safeguarding patient safety. CreatiVasc was chosen as one of three participants nationally in this program.

CreatiVasc was founded in Greenville, SC in 2004 by Dr. David Cull, a vascular surgeon at Greenville Hospital System. The company began full-time operations in 2007 and was one of the earlier companies to receive SC Launch investment and support. CreatiVasc has multiple issued patents on this device both in the U.S. and around the world.

"CreatiVasc is extremely honored to be one of only three companies selected nationally for the inaugural FDA program - and the only company outside of California," said CreatiVasc CEO Steve Johnson. "Our selection validates the trust that our investors and SC Launch placed in us five years ago when we began our regulatory journey. The Innovation Pathway will no doubt play a great role in moving our innovation to the market much faster."

"We are delighted that CreatiVasc has been selected to participate in this FDA program to enable rapid market entry for important technologies," said SCRA CEO Bill Mahoney. "The Hemoaccess Valve System, a technology created and developed here in South Carolina, can dramatically improve the lives of dialysis patients nationally and worldwide. CreatiVasc is a promising company that continues to bring value to not only patient care with novel innovation, but also to our state's Knowledge Economy."

About SCRA

http://www.scra.org/

SCRA is an applied research corporation with over 29 years of experience delivering technology solutions with high returns on investment to federal and corporate clients. To fulfill our mission, SCRA has three sectors: Our Technology Ventures sector helps early-stage companies to commercialize innovations and create jobs, our Applied R&D sector manages over 100 national and international programs worth over $1.5 billion in contract value and our R&D Facilities sector builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops. Multiple economic impact studies show SCRA's cumulative impact on South Carolina's economy to be over $14 billion.

SOURCE: SCRA

        
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