Livermore, California Selected As Our First Manufacturing Hub
2018 has been the most exciting year in ABS history. We have opened the door to China, added amazing new talent to our board and executive team, partnered with Family Office Network and reached 48 international patents awarded and pending.
Today I am thrilled to announce another major step forward. Advanced Bifurcation Systems® is opening our global manufacturing facility for our mother-daughter coronary stenting platform. We selected a facility in Livermore, California that is located down the street from Lawrence Livermore National Laboratory in one of America’s most innovative regions.
We are in amazing company here. The region encompassing Bay Area and Silicon Valley region is the world’s top center of innovations and has one of the greatest collections of minds found anywhere. Talent is the key to fulfilling our mission and ultimately that was the most important factor in why we selected this area. We will join many other great companies in exporting American innovations from here, around the world. Ultimately, I do expect we will want to secure additional manufacturing outside the US.
The new facility will start as our global manufacturing hub for our mother-daughter stenting platform and will play a major role in our upcoming application to the United States Food and Drug Administration. The facility has its own Class 10,000 Cleanrooms which are all being certified to build and assemble the ABS product portfolio.
Heart Disease is the world’s top health problem, especially as nations age, economies develop, and diets and lifestyles change. Public and private health systems around the world struggle to provide affordable medical care on the scale needed. To start, the facility will create approximately 35-50 new jobs, but the facility has the capacity to handle very large growth. ABS’ solution is a rare, game changing solution.
Earlier this year, experts estimated that the coronary stent market will reach $10B in 2025. Bifurcation disease could be about 25% of this market. I believe that with ABS could capture a significant part of this. I believe that FDA review and market response will show that our platforms will allow more cardiologist to treat more people, more cheaply, more safely and more reliably than the current mix of stents and surgery.