ABS Sets Their Sights on $20M in New Funding Led by New CFO
Los Angeles, California, November 26, 2017 - Advanced Bifurcation Systems announced that is it seeking $20 million in new funding from outside investors. The new goal was announced in conjunction with the appointment of new CFO Ken Richards, who brings with him a strong background in both debt and equity financing. With a solid foundation already in place, the company appears to be heading in the right direction with these new announcements.
Positive First Steps
Ken Richards gives ABS a strong Canadian connection and it’s already paying dividends. The company announced a new partnership with the University of Dalhousie Medical School on October 3, 2017. ABS will conduct their next wave of human trials at the school’s medical facilities. The hope is that these new trials will propel this medical start-up forward on the path towards worldwide acceptance.
ABS has also created a Canadian subsidiary called ABS Canada as part of the process. Once the company acquires the necessary regulatory approval globally, the Canadian branch will start production at the new manufacturing center in New Brunswick to meet global demand. It’s a major new direction for the company.
Strong Credentials
The new CFO is also a highly experienced financial executive. He’s been a key player in several financial institutions. Richards was a founding partner at York Bridge Capital and he held the role of full partner in the venture. He was also the Managing Director at CIBC World Markets before he joined York Bridge Capital and spent some time working in the medical field as well.
With their new CFO in place, the company is sending a message to potential financial partners that they represent a good investment. His valuable experience should provide ABS with the financial foundation it needs to take the next steps towards success and help it to achieve its goal of $20 million in new funding.
Financial Strength and Patents
The new trials and new CFO are part of an overall positive trend for ABS. They also have a strong patent portfolio that makes them attractive to outside investors. They currently have 34 patents in place and another 10 pending. This is a strong indication that they’re technology is unique and potentially valuable. These patents are in place in a range of countries including the US, Canada, China, Japan, and Australia.
The importance of a strong patent portfolio has been highlighted in the last few years with schools establishing courses to provide students with training on the subject. Many financial experts now believe patents are an important commodity in global markets and that they can add real value to a company. That places ABS in a strong position with potential investors.
Peer Approval
Advanced Bifurcation Systems has also been looking to achieve backing for their new system from experts in the medical field. The company was a key sponsor of the annual European Bifurcation Club Meeting in October 2017 and their Chief Medical Officer, Dr. Mehran Khorsandi, spoke about the new stenting system in front of a packed lecture hall of his peers. This group of thought leaders in bifurcation lesions are influential in providing new stenting technology the backing needed to achieve regulatory approval.
Those in attendance greeted the speech by Dr. Khorsandi with approval. It was another important step for the company. A new medical technology such as the ABS system needs the acceptance of medical experts as well as the world’s medical regulatory bodies if it’s going to be successful.
What Makes this Technology Different?
The reason medical experts and investors are so interested in ABS’s new technology is because it has the potential to make stenting procedures much simpler. Current methods are unreliable and they’re more complex than the new system. They usually require advanced training that many heart specialists don’t have.
The fact that most cardiac doctors don’t have this training is one of the main reasons that interventional cardiologists are in such high demand. They offer the only real alternative for patients that don’t have access to doctors trained in current stenting procedures for bifurcation lesions. This occurs when there are blockages in two branched arteries.
The ABS method uses a dual catheter system that places a stent in both the mother and daughter arteries at the same time. The system is also self-aligning, so there’s very little chance of a misplaced stent and fewer return trips to the operating room. It’s a straightforward process. Specialists should be able to perform the procedure themselves without extra training and that will eliminate open-heart surgeries in most cases.
This new system for placing stents in branched arteries is still a few years away from regulatory approval, but if it is approved it will represent a big step forward. It will allow more interventional cardiologists to perform stenting procedures in less time and fewer patients will have to go through the stress of open-heart surgery.
About Advanced Bifurcation Systems
Advanced Bifurcation Systems (“ABS”) is a clinical stage medical device company developing an innovative stenting platform for simple treatment of all bifurcation lesions in coronary angioplasties. ABS has developed a novel technology which overcomes the limitations of current approaches while simplifying the procedure. The Company’s groundbreaking system consists of numerous differentiating features, including a unique modular independently movable dual-catheter system for provisional side-branch stenting as well as full bifurcation stenting with a proprietary crimping technology allowing for partial crimping of the main stent. For more information, go to www.advancedbifurcation.com.
Contact:
Advanced Bifurcation Systems
Charles Laverty
Chief Executive Officer
charles_laverty@advancedbifurcation.com
(949)432-4824