Medical device firm ABK Biomedical has secured $30m funds to focus on the development of its Eye90 and Easi-Vue microspheres.
ABK Biomedical has raised series B financing under the round co-led by F-Prime Capital and Varian Medical Systems.
The company will use the investment to continuosly focus on the product development of its Eye90 microspheres, which are designed for transarterial radiation therapy for liver tumors.
Eye90 microspheres are said to be a breakthrough combination of Y90 microspheres for radioembolization made with a radio-opaque glass composition for procedure visualization through fluoroscopy, x-ray, CT and Cone Beam CT imaging modalities.
ABK Biomedical will also use the funding to advance the development of its Easi-Vue microspheres for bland embolic treatment of hypervascular tumors.
Easi-Vue radiopaque permanent embolization microspheres are available in a range of microsphere sizes, which are inherently radiopaque for direct visualization of the embolic at the target site during embolotherapy.
First human use of Easi-Vue embolization microspheres is expected in this year, while Eye90 microspheres in 2020.
ABK said that the series B financing will support the research and development, manufacturing, and clinical development program designed for regulatory submission of both Eye90 and Easi-Vue.
ABK Biomedical president and CEO Mike Mangano said: “Our thought-leading physician partners and advisors see tremendous opportunities to improve procedural and oncologic outcomes for patients suffering from non-resectable liver tumors.
“The ABK platform aims to deliver key technical benefits over existing yttrium-90 (Y-90) microspheres technologies for improved procedural and clinical outcomes. ABK combines the benefits of advanced imaging and dosimetry analysis with the empirically proven clinical benefits of Y-90 transarterial radiation therapy.”
ABK Biomedical is engaged in the research, development and commercialization of breakthrough medical device therapies for the treatment of patients with benign and malignant hypervascular tumors.
The company has intellectual property in the area of inorganic polymer microspheres, enabling it to focus on embolotherapy filed within the interventional radiology / interventional oncology medical disciplines.
ABK Biomedical manages its own R&D and manufacturing facilities to develop and commercialize breakthrough embolotherapy products.