Velico Medical Announces a Further $18.9m BARDA Funding for Spray Dried Alternative to Frozen Plasma

Velico Medical, today announced a further $18.9m of funding from the Biomedical Advanced Research and Development Authority (BARDA, US Department of Health and Human Services) for their patented, dried plasma technology. BARDA has exercised its third option under a contract with Velico which extends through November 2019 and provides for up to approximately $18.9 million of additional funding raising the total value of its commitment to Velico to $46.5 million. This phase of the contract supports commercial development of a system, targeted for deployment in blood collection and processing centers in the United States and around the world, which enables spray drying of human plasma for transfusion. Currently the industry norm is to freeze plasma which can take up to 40 minutes or more to defrost and deliver. Spray dried plasma is expected to be an easy to prepare, easy to use alternative to frozen plasma for all civilian (OR, ER, ICU) and military applications. This includes extending availability outside of the hospital to emergency first responders and for use in mass casualty events

“Despite advances in transfusion medicine and trauma resuscitation, massive blood loss remains a major cause of mortality, both in developed and developing countries. Velico’s breakthrough technology is poised to improve the survival rate of patients suffering from blood loss, extending the ‘golden hour’ of successful intervention to the pre-hospital setting” says Dr. Mark Popovsky, Velico’s Chief Medical Officer.

“A dry plasma product is our greatest need right now, from field military operations to supporting emergency care in rural America to advancing the life-saving tool kit of Level I trauma centers. Plasma has been shown to have numerous beneficial effects in bleeding patients including stopping bleeding and supporting organ function but it is not currently widely available in the amounts that are needed and this problem is magnified in disaster situations.

Plasma delivered early to a patient makes all the difference. Most hospitals only have three to six units of thawed plasma available. If more is required, then it takes a further 30 minutes or more to thaw – keeping surgeons waiting and putting lives at risk. Velico’s technology enables plasma on-demand, anywhere. Between 5% and…

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