Safeguard Scientifics News: Velano Vascular raises $17 million for a needle-free blood draw device

Submitted by Safegaurd Scientifics

Blood drawing and testing may have been tainted by the Theranos scandal last year, but that hasn’t kept investors from backing Velano Vascular. The San Francisco-based startup, which has developed a needle-free device to draw blood, today announced a new investment of $17 million. This technology could reduce the risks of injuries for patients who  suffer from difficult venous access due to weight, chronic disease, and other issues.

Velano Vascular’s product is called PIVO — a single-use, needle-free device that can be inserted through an existing (intravenous) IV catheter.

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