A small San Francisco start up called Velano Vascular is
garnering attention lately for its fully FDA-approved device called a PIVO,
which draws blood through IVs already inserted in patients.
The PIVO, derived from “peripheral intravenous catheter,” would
mean relief for inpatients who need daily blood draws – oftentimes requiring
more than one poke if veins are problematic. Chief innovation officer of
Intermountain Healthcare Todd Dunn said the device offers compassion for
patients, and he recommends it become the new standard of care. Intermountain
Healthcare, a hospital system in Utah that contains 22 centers, is studying the
device.
Velano Vascular’s co-founder, 39-year-old Pitou Devgon,
M.D., first considered the invention while hearing complaints from an elderly
patient who was upset at the constant poking of needles for blood draws. After
a full week in the hospital, bruises on her arms revealed her discomfort. When
she already had an IV, she asked, what was the point of more needles?
Devgon slowly realized an idea the elderly patient helped
bring to light – a tube that inserts into the existing, larger IV tube that is
specifically for drawing blood. While the IV catheter is unable to draw fluids
out of a patient, it works well to inject fluids into a patient. The PIVO
allows for a clean blood draw, and is thrown away afterwards. Devgon was
eventually introduced to Eric Stone, fellow co-founder of Velano and a
health-care entrepreneur, who helped bring his idea to life.
Many children’s hospitals are attracted to the device, as
children tend to have an extreme fear of needles, and PIVO could give them a
more pain-free hospital experience. PIVO was granted funding from the Sheikh
Zayed Institute for Pediatric Surgical Innovation, a unit of the Children’s
National Health System in Washington, D.C. The Children’s Hospital of
Philadelphia and the Griffin Hospital in Connecticut are also supporting Velano
financially.
With the additional support of institutional investors such
as Safeguard Scientifics, along with the support of individuals like Becton
Dickenson (one of the largest needle manufacturers in the world), Velano has
received $8.5 million in funding.
For Stone, developing the PIVO was personal. He was
diagnosed with Crohn’s Disease 25 years ago, and spent many days and nights
having blood drawn in hospitals. He believes that the PIVO will become a new
standard of care, and will come in contact with every patient who exists at some
point in their lives.