The Velano Vascular technology has been developed to reduce unnecessary pain and anxiety for patients receiving medications and hydration through intravenous (IV) delivery.

Velano Vascular co-founder and CEO Eric Stone said: "A fundamental benefit of this technology is reducing the ‘pin cushion effect’, in which hospitalized patients are ‘stuck’ several times daily to obtain blood tests.

"The FDA’s clearance of this novel technology validates the existing clinical need and will allow us to expedite our efforts to bring this innovation to patients, healthcare providers and hospitals around the world."

According to the company, the proprietary device will reduce the need for needle sticks (clinically called venipunctures) for blood draws in the hospital.

The venipunctures are said to take place around 350 million times annually in the US, noted Velano.

Velano Vascular investor Kapor Capital founding partner Mitch Kapor said: "Velano Vascular has developed a simple, game-changing innovation that will improve the way medicine has been practiced for decades."

Image: Velano Vascular has developed a new blood-draw technology. Photo: courtesy of tigger11th/