Fluid Biomed Closes $27-Million USD Series A to Fund Expanded Human Clinical Studies
DEC 16 2024 | BETAKIT
Fluid Biomed Inc. Raises $27 Million USD in Oversubscribed Series A Financing to Advance World’s First Bioabsorbable Polymer-Based Stent To Treat Brain Aneurysms
CALGARY, Alberta, Canada, December 16, 2024 (BusinessWire)
Fluid Biomed Inc., a clinical stage medical device company developing lifesaving products for patients suffering from vascular disease, closed an oversubscribed $27 million USD Series A equity financing. The round is co-led by Amplitude Ventures and an undisclosed major strategic partner. New participants in the investment syndicate include IAG Capital Partners and LifeArc Ventures, as well as returning investors, ShangBay Capital and METIS Innovative.
The ReSolv™ stent was developed by John Wong, M.D., co-founder and chief executive officer of Fluid Biomed, and Alim Mitha, M.D., co-founder, president and chief technology officer. Both are leading academic neurosurgeons at the University of Calgary.
Fluid Biomed’s unique bioabsorbable polymer-based stent technology has been validated by years of scientific research with functional benefits demonstrated in a first-in-human clinical study to treat brain aneurysms, a leading cause of stroke and disability. About 6.7 million people in the U.S. have unruptured brain aneurysms and more than 30,000 rupture and bleed each year, often leading to disability and death. Fluid Biomed plans to use the proceeds to further validate the ReSolv™ stent and its proprietary delivery system in expanded patient studies.
“Our exclusive technology has attracted the attention of international investors of the highest caliber with the depth and breadth of expertise to accelerate company evolution and make its medical devices available sooner to physicians and patients,” said Dr. Wong. Dr. Mitha added, “This additional strategic and financial capital will enable larger clinical trials as well as broaden our product pipeline. Empowered with greater resources, Fluid Biomed is well positioned to create the next generation of stents to heal those afflicted with brain aneurysms around the world.”
Jean-Francois Pariseau, co-founder and partner at Amplitude Ventures, said, “This financing will propel Fluid Biomed toward realization of the remarkable potential of the ReSolv™ stent. We are strong supporters of entrepreneurial scientists. Fluid Biomed’s founders have utilized their decades of experience to create a truly novel technology that will positively impact patient outcomes.”
Fluid Biomed wins BioAlberta 2023 Company of the Year
SEP 29 2023 | EDMONTON, AB
Fluid Biomed Inc. is commercializing the first polymer-based brain stent to cure aneurysms. The company’s team of neurosurgeons, scientists, and engineers have designed the world’s first hybrid polymer-metal flow-diverting stent to cure this deadly disease. Uniquely constructed of dissolving polymer and metal, this innovative medical device provides a scaffold to allow better healing and visualization of blood vessels.
Accepting this award, Co-founder and CEO, Dr. John Wong said ”As a young company, Fluid Biomed is incredibly humbled and proud to be recognized as BioAlberta‘s 2023 Company of the Year. It has been inspiring to first witness and now become a valued participant in the exponential expansion of the provincial life sciences ecosystem. Kudos to all of us as we grow the nexus of intellect, infrastructure, and investment in Alberta to create the next generation of medical technologies that will save lives around the world. Thank you!”
Fluid Biomed Inc. Announces World’s First Implantation of Polymer-based Neurovascular Stent in Human Patients
June 1 2023, 2:00 PM ET | PR NEWSWIRE
CALGARY, AB, June 1, 2023 /CNW/ – Fluid Biomed Inc., a medical device company developing ReSolv™, the world’s first hybrid polymer-metal flow-diverting stent to treat brain aneurysms, announces the international launch of REDIRECT, its first-in-human clinical trial. Phase 1 of this technical feasibility and safety study has begun with successful device implantation without adverse effect in human subjects at the pre-determined 30-day time point and recruitment is on-going.
Dr. John Wong, neurosurgeon, company co-founder and Chief Executive Officer, said “We view this first clinical demonstration in multiple patients of our revolutionary stent, as the next leap in brain aneurysm treatment that combines science, engineering, and medicine. Surmounting the formidable challenges to capture this milestone as a young company with remarkable efficiency of resources and time, is a testament to the dedication, creativity, and tenacity of our talented team, both individually and collectively. We look forward to achieving even more alongside our next financing partners.”
Dr. Alim Mitha, neurosurgeon, company co-founder, President, and Chief Technology Officer, said, “It is incredibly gratifying and exciting to witness years of careful scientific work from our affiliated biomedical engineering laboratory culminate in a transformative medical device. Our unique hybrid polymer-metal technology may be the foundation of an extremely versatile platform that can address the treatment of aneurysmal disease in its broadest scope. Whole new strategies of therapy may open as a result.”
Fluid Biomed also announces new company advisors: Professor Ajay Wakhloo, renowned neuroradiologist and stent pioneer; and Michael Wallace, serial entrepreneur and medical industry leader. “Leveraging the decades of experience from these enviable additions to our advisory board, will help us establish the next generation of neurovascular tools to aid physicians worldwide in the battle against brain aneurysms and stroke,” says Wong.
Fluid Biomed Achieves Coveted ISO 13485:2016 Quality Management System Certification
JUL 14 2022 | CALGARY, AB
Fluid Biomed Inc., developer of the world’s first bio-resorbable stent to cure brain aneurysms, announces it has received ISO 13485:2016 certification, the internationally recognized benchmark for Quality Management Systems (QMS) specific to medical devices.
“Fluid Biomed is committed to better health and quality of life through innovation, and we are developing unique life-saving technologies that are safe and effective,” said Dr. John Wong, Chief Executive Officer. “Although a young company, the team has individually and collectively dedicated themselves to nurturing and supporting a culture of quality focused on continuous improvement. We’re so proud to share that our Quality Management System has been independently audited by the leading national standards body, BSI, and is now certified to the rigorous and exacting requirements of ISO 13485:2016.”
ISO 13485 is the prevailing process-based QMS standard for the medical device industry around the world. Fluid Biomed holds certificate number FM 762811 and its QMS complies with the standards of ISO 13485:2016 for the design and development of intracranial stents and associated delivery components.
Fluid Biotech Announces Rebranding, Changes Name to Fluid Biomed
JAN 20 2022 | CALGARY, AB
Fluid Biotech, a life sciences company based in Calgary, Alberta, Canada that is pioneering stent technology, is rebranding itself to Fluid Biomed, to emphasize its focus on medical device innovation as it accelerates towards clinical trials.
“Fueled by our previous over-subscribed seed financing round, we’ve made tremendous progress as a young firm in the pre-clinical testing of our flagship product: the world’s first polymer-based flow-diverting stent to cure the deadly disease of brain aneurysms,” states company co-founder and CEO, Dr. John Wong. “The new company name aligns with our mission of developing the next generation of stents to improve patient well-being and will help us harmonize with strategic medical device manufacturers and financial partners as we enter the next exciting phase of growth”. All other facets of the company remain unchanged and the transition is anticipated to be complete by end of Q1 2022.
Fluid Biotech Inc. Raises $4.7M USD in Oversubscribed Seed Funding Round
AUG 11 2021, 06:00 ET | PR NEWSWIRE
Fluid Biotech Secures $5.8 Million CAD to Accelerate Development of Innovative Brain Aneurysm Stent
AUG 11 2021 | BETAKIT
Mitha Laboratory Publishes Seminal Research in Leading Specialty Medical Journal
Nov 27 2019 | JNIS
Scientific Article: A novel self-expanding primarily bioabsorbable braided flow-diverting stent for aneurysms: initial safety results
Company Co-Founder Invited to Publish Editorial in Medical Journal
Mar 19 2020 | SCIENCE DIRECT
Editorial: Endovascular Stents – Do They Need To Be Permanent?
Industry newsletter highlights scientific research from Mitha laboratory
JAN 14 2020 | NEURONEWS
UCalgary researchers aim to revolutionize treatment for brain aneurysms
Mar 3 2021 | UNIVERSITY OF CALGARY
“There’s no reason why we can’t leverage what we have learned and created to combat other serious diseases.” — Dr. John Wong