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, held the first closing of an $11m Series A equity financing.
The round was led by Cedars-Sinai, an internationally renowned academic medical center, and by a leading medical device manufacturer.
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.
Founded by cardiologist Dr. Mehran Khorsandi and medical devices engineer Henry Bourang, 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 system consists of numerous differentiating features, including a 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.
The ABS System is specifically designed to efficiently treat coronary bifurcation lesions with predictable results. The ABS System, which is protected by more than 50 issued US and international patents, addresses this $2.4 billion market comprised of 400,000 procedures annually.
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.