The world’s first bioabsorbable polymer-based stent technology is being developed to treat brain aneurysms, a leading cause of stroke and disability.
According to the Fluid Biomed, which is developing the ReSolv stent, the technology has demonstrated functional benefits in a first-in-human clinical study to treat brain aneurysms.
To advance the development of the technology, Fluid Biomed has raised US$27m which will be use to further validate the ReSolv stent and its 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. John Wong, co-founder and chief executive officer of Fluid Biomed
Dr. Alim Mitha, co-founder, president and chief technology officer, 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 investor, Amplitude Ventures, said: “This financing will propel Fluid Biomed toward realisation of the remarkable potential of the ReSolv stent.
“We are strong supporters of entrepreneurial scientists. Fluid Biomed’s founders have utilised their decades of experience to create a truly novel technology that will positively impact patient outcomes.”
