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
Funding co-led by Amplitude Ventures and an undisclosed major strategic investor to advance the ReSolv™ stent into additional human clinical trials
CALGARY, Alberta–(BUSINESS WIRE)–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.
