LIVERMORE, Calif., Dec. 16, 2020 /PRNewswire/ — Advanced Bifurcation Systems, Inc. (ABS), a Livermore, CA-based maker of the ABS System, a proprietary stent delivery system that is specifically designed to efficiently treat coronary bifurcation lesions, is pleased to announce the first closing of an $11 million Series A equity financing. The round was led by Cedars-Sinai, an internationally renowned academic medical center, and by a leading medical device manufacturer.
Founded by cardiologist Dr. Mehran Khorsandi and medical devices engineer Henry Bourang, ABS is positioned to solve one of the most technically challenging problems – the treatment of coronary bifurcation lesions – that has eluded the medical device world since coronary stents were first implanted in humans in 1986. Coronary bifurcation lesions are prevalent in about 30% of Coronary Artery Bypass Grafting procedures and about 20% of Percutaneous Coronary Intervention procedures. Patients confronting coronary bifurcation lesions are currently left with only two options: either complex stenting procedures with suboptimal and unpredictable results, or higher risk and more expensive, open-heart surgery.
From prototype to final product, the ABS System has been evaluated through bench testing, animal implants and ten human implants across three international medical centers – all with successful results. Proceeds from the financing will be used to conduct in-human testing in accordance with the FDA PMA process, and enable ABS to seek a FDA Investigational Device Exemption for an Early Feasibility Study – both preconditions to the commencement of ABS’s Pivotal Trial.
About Advanced Bifurcation Systems, Inc.
Advanced Bifurcation Systems (ABS) is a clinical stage medical devices company developing an innovative stenting platform for simple treatment of all bifurcation lesions in coronary angioplasties. 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.
Contacts:
Advanced Bifurcation Systems, Inc.
Dr. Mehran Khorsandi
Chairman & CEO
mehran.khorsandi@advancedbifurcation.com
Henry Bourang
President & COO
henry.bourang@advancedbifurcation.com
Ken Richards
CFO
ken.richards@advancedbifurcation.com
SOURCE Advanced Bifurcation Systems
