Advanced Bifurcation Systems Announces $20M Growth Capital Round
Advanced Bifurcation Systems (ABS) made two major announcements in the past couple of weeks. We’ve launched a new round of fundraising with a target of $20 million. We are also happy to announces that Ken Richards has joined our team as our new CFO.
These are exciting times at ABS as we continue our progress towards regulatory approval globally and the release of our advanced stenting system worldwide. Within a few short years, most open heart surgeries could become a thing of the past.
Firm Financial Footing
The medical field is a competitive one with innovative research teams competing to attract the attention of major investors. That’s why adding Ken Richards to our team was so important. He brings with him a wealth of experience in the investment arena working for successful investment firms such as York Bridge Capital and CIBC World Markets. Ken has the expertise to help ABS reach its $20 million funding target.
Ken’s a graduate of Dalhousie University in Halifax, Nova Scotia and that’s not the only Canadian connection at ABS. On October 3, 2017, we also made a major announcement about our next wave of human clinical trials in partnership with Dalhousie University’s Medical School in New Brunswick. Planning is well underway to begin this next phase of trials at the medical school. This is a big “next step” in our steady progress towards the eventual commercial role out of our innovative stenting system.
Our breakthrough technology received a lot of positive feedback at the recent European Bifurcation Club meeting in Portugal where our CMO, Dr. Mehran Khorsandi, talked about our new procedure. We’ve been able to use this to continue our momentum and we’re excited about what the next few months has in store.
How it Works
Our new technology is designed to replace less reliable stenting methods used today. Our procedure covers all types of lesions regardless of branch angle, size, plaque burden or location. Our system places stents in both the main branch and side branch simultaneously and its self-aligning to virtually eliminate the need for further surgery.
Once we’ve received full regulatory approval I believe that the Advanced Bifurcation Systems Platform will become the method of choice for most interventionist cardiologists.