Advanced Bifurcation Systems Inc. Achieves Major Financing Win
Major Financing for Advanced Bifurcation Systems Inc.
Advanced Bifurcation Systems Inc. (ABS), recognized for its cutting-edge solutions tailored for bifurcation lesions in coronary angioplasty, has successfully completed a significant financing round, securing $20.8 million through a Simple Agreement for Future Equity (SAFE). This round has garnered interest from high-net-worth individuals and family offices internationally, highlighting the robust demand for ABS’s innovative technology.
New Members Join the Board of Directors
With this new wave of financing, ABS is excited to expand its Board of Directors by welcoming two distinguished individuals:
Malia Chui
Malia Chui joins ABS as a representative of Brandon Holdings, LLC, which was instrumental as the company's largest investor during this financing round. Bringing a wealth of experience in investment management, particularly within healthcare, Malia's insights will be crucial as ABS continues to scale its operations.
Susan Yashar
Another remarkable addition is Susan Yashar, who recently retired from her role as Deputy Global CEO and General Counsel of Deloitte Global, the largest professional services firm worldwide. Her extensive background in regulatory compliance and corporate governance will significantly benefit ABS as it navigates complex international markets and regulatory environments.
Leadership’s Vision and Support
Mehran Khorsandi, MD, who serves as the CEO of ABS, expressed gratitude for the overwhelming support from investors, emphasizing the strategic vision they see in ABS’s technology. The company is poised to further its development through continued guidance from Malia Chui and Susan Yashar, alongside Willie Lawrence, MD, a recent addition to the Scientific Advisory Board.
Dr. Khorsandi reiterated the company's commitment to advancing through important regulatory processes while preparing for the commercialization of its key medical device, which recently received the FDA's Breakthrough Device Designation, underscoring its potential in addressing critical needs in the field of interventional cardiology.
Embracing Future Opportunities
The $20.8 million financing marks a pivotal moment in Advanced Bifurcation Systems' journey. As the company pivots towards expansive growth, it aims to leverage the profound experience of its newly appointed board members. Their collective knowledge will undeniably steer ABS in achieving its mission to deliver innovative healthcare solutions that can transform patient care and outcomes.
Frequently Asked Questions
What financing round did Advanced Bifurcation Systems Inc. complete?
Advanced Bifurcation Systems Inc. successfully completed a $20.8 million SAFE financing round, indicating strong investor interest.
Who are the new members of the Board of Directors?
Malia Chui and Susan Yashar are the new additions to the Board of Directors, bringing extensive experience in healthcare investments and corporate governance, respectively.
What is the significance of the FDA Breakthrough Designation?
The FDA Breakthrough Device Designation signifies that ABS's medical device addresses an unmet clinical need, promoting its development and accessibility.
Who is the CEO of Advanced Bifurcation Systems?
Mehran Khorsandi, MD, serves as the CEO of Advanced Bifurcation Systems, leading the company’s strategic initiatives.
What areas of expertise do the new board members bring?
The new board members bring expertise in investment management in healthcare and corporate governance, which will help advance ABS’s objectives in the interventional cardiology space.
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