Calgary-based Fluid Biomed Company has raised USD 27 million in a Series A round to further the opportunities for the field-changing flow-diverting brain stent. The stent for the treatment of brain aneurysms is viewed as one of the major innovations in the industry of medical devices.
Fluid Biomed’s stent is designed and made from a combo of a specific bioabsorbable polymer and metal, unlike the conventional fully metal stents utilized in the medical space. The purpose of this design is to improve patients’ prognosis as well as make the treatment of brain aneurysms more efficient.
Series A and Investment Partners
The Series A funding, which was raised earlier this year using only equity and primary funds, was sealed last month with the support of Amplitude Ventures, a venture capital company from Canada.
Moreover, there was an unnamed Large Strategic Investor from the medical industry also involved in the latest round. The reactionary view came from Fluid Biomed’s founder Wong that this kind of partnership provides a direction to commercialization which can change the aneurysm treatment.
Proposals for Larger-Scale Trials
The startup plans to utilize the funding from the Series A round to gather even wider human clinical trials for the stent. These studies are essential in determining the proficiency of the device and bringing it near a regulatory standpoint.
The opportunity to develop and progress scientific and clinical trials for the company is a significant achievement for Fluid Biomed in its vision of improving aneurysm care.
It also highlights that Fluid Biomed has moved from the university research phase to entrepreneurial commercialization in the medical device industry to give a glimmer of hope for further developments in the treatment of brain aneurysms in the future.
