Calgary-based medical device startup Fluid Biomed has secured $27 million USD in Series A funding to advance the development of its bioabsorbable stent for treating brain aneurysms. The funding will be used to validate the device through expanded human clinical studies.
Innovative Bioabsorbable Stent Technology
Fluid Biomed is developing what they claim is the world’s first bioabsorbable stent for the brain. Unlike traditional metal stents, Fluid Biomed’s stent is constructed from a combination of bioabsorbable polymer and a small portion of metal. This design aims to address the limitations of permanent metal stents, such as the increased risk of clot formation and the need for lifelong blood thinners.
According to Fluid Biomed CEO Dr. John Wong, existing metal stents remain in the body permanently, potentially causing complications. The bioabsorbable stent is designed to dissolve over time, allowing blood vessels to heal more effectively. Dr. Wong also noted that the polymer material is softer than metal, enabling the stent to fit into more blood vessels and locations within the brain.
Clinical Advantages and Reduced Risks
The bioabsorbable stent offers potential clinical advantages, including better visualization of the brain during CT and MRI scans compared to metal alternatives. This could reduce the need for invasive angiograms. The stent is designed for minimally invasive installation through a blood vessel in the groin, guided by X-ray using catheters.
Funding and Future Plans
The Series A round brings Fluid Biomed’s total funding to $32.5 million. The funding round was co-led by Amplitude Ventures and an undisclosed strategic investor from the medical space, with participation from LifeArc Ventures and IAG Capital Partners. Fluid Biomed plans to use the funding to conduct an early feasibility study and another clinical trial in Europe in 2025. Data from these studies will support a larger patient trial in the US and Canada.
Amplitude Ventures co-founder and partner Jean-Francois Pariseau noted that Fluid Biomed is a perfect fit for their investment strategy, citing the company’s great technology, founders, and team. While regulatory approval from Health Canada and the US Food and Drug Administration is still years away, initial patient results have been promising.
Addressing Brain Aneurysms
A brain aneurysm is a bulge in a blood vessel in the brain that can leak or rupture, leading to stroke. Current treatment options include open surgery with a clamp or the use of metal stents. Fluid Biomed’s bioabsorbable stent aims to improve patient outcomes by reducing the long-term risks associated with traditional metal stents.
