ABK Biomedical Raises $30M in Series B Financing
HALIFAX, Nova Scotia, April 8, 2019 /PRNewswire/ -- ABK Biomedical, Inc., a medical device company dedicated to the research, development and commercialization of innovative embolic therapies, announced a $30 million Series B financing. The round is co-led by F-Prime Capital and Varian Medical Systems.
ABK Biomedical will use the funding for continued focused product development of its Eye90™ microspheres, which are designed for transarterial radiation therapy for liver tumors, and its Easi-Vue™ microspheres for bland embolic treatment of hypervascular tumors. This Series B raise is intended to support the research and development, manufacturing, and clinical development program designed for regulatory submission of both Eye90™ and Easi-Vue™.
"Our thought-leading physician partners and advisors see tremendous opportunities to improve procedural and oncologic outcomes for patients suffering from non-resectable liver tumors," said Mike Mangano, president and CEO of ABK Biomedical. "The ABK platform aims to deliver key technical benefits over existing yttrium-90 (Y-90) microspheres technologies for improved procedural and clinical outcomes. ABK combines the benefits of advanced imaging and dosimetry analysis with the empirically proven clinical benefits of Y-90 transarterial radiation therapy."
Ketan Patel, MD, partner with F-Prime Capital, comments, "We are impressed with the ABK Biomedical team and believe the company has an outstanding product platform with the potential to make a significant impact on the lives of patients with malignant liver tumors."
Gregory Sorensen, vice president of strategy and business development with Varian, comments, "ABK has a unique approach to address a large unmet need for patients with non-resectable liver tumors. This technology is aligned with our goal of delivering innovative solutions in cancer care."
About ABK Biomedical, Inc.
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