Medical device company ABK Biomedical raises $30m in Series C round

Halifax-based ABK Biomedical is a medical device company focused on the research, development and commercialization of imageable embolic therapies.

  • The round was co-led by new investors Santé Ventures and a significant, undisclosed strategic medical technology investor
  • Existing investors F-Prime Capital and Eight Roads Ventures also participated
  • ABK was founded in 2012 at Dalhousie University by Bob Abraham, Daniel Boyd and Sharon Kehoe

Halifax-based ABK Biomedical, a medical device company focused on the research, development and commercialization of advanced imageable embolic therapies, has secured $30 million in Series C financing.

The round was co-led by new investors Santé Ventures and a significant, undisclosed strategic medical technology investor. Existing investors F-Prime Capital and Eight Roads Ventures also participated.

Founded in 2012 at Dalhousie University by Bob Abraham, Daniel Boyd and Sharon Kehoe, ABK researches, develops and commercializes medical device therapies to improve treatment outcomes and the lives of patients with benign and malignant hypervascular tumors.

The company will use the funds raised to seek FDA IDE approval to execute their Eye90 microspheres Route90 US pivotal trial and continue their clinical development programs. They will also support the clinical assessment and development of ABK’s Easi-Vue embolic microspheres technology, which recently received FDA 510(k) clearance.

“We continue to be impressed with the ABK Biomedical team and the accomplishments achieved since our last round of funding,” said Ketan Patel, M.D., partner at F-Prime Capital, in a statement. “The validated Eye90 microspheres design and early clinical data suggest a positive patient impact within the rapidly growing radioembolization target market. This adds to our confidence in our continued investment and partnership with ABK.”