Fluid Biomed Inc., a clinical-stage medical device company focused on developing lifesaving solutions for vascular disease patients, has successfully raised $27 million in an oversubscribed Series A funding round. The financing was co-led by Amplitude Ventures and a major undisclosed strategic partner. New investors include IAG Capital Partners and LifeArc Ventures, alongside returning backers ShangBay Capital and METIS Innovative.
Fluid Biomed Inc., a clinical-stage medical device company, has developed a groundbreaking technology aimed at treating brain aneurysms using a bioabsorbable polymer-based stent. This innovative product, the ReSolv™ stent, was created by Dr. John Wong and Dr. Alim Mitha, both accomplished neurosurgeons at the University of Calgary. Dr. Wong serves as the CEO and co-founder of Fluid Biomed, while Dr. Mitha is the company’s president and CTO, also a co-founder. Their expertise in both clinical care and scientific research has been instrumental in the development of this novel device.
The ReSolv™ stent technology has undergone years of rigorous research and testing, culminating in its successful demonstration in a first-in-human clinical trial aimed at treating brain aneurysms. Brain aneurysms are a major cause of strokes and disability, affecting millions of people globally. In the U.S. alone, approximately 6.7 million individuals have unruptured brain aneurysms, with over 30,000 aneurysms rupturing and bleeding each year. These ruptures often lead to life-threatening conditions such as stroke, disability, and death. Given the severity of the condition, Fluid Biomed is focused on expanding its clinical validation to ensure the stent’s effectiveness and safety in a broader patient population.
The company’s recent oversubscribed $27 million Series A financing round, led by Amplitude Ventures along with an undisclosed major strategic partner, will enable Fluid Biomed to accelerate its development efforts. New investors include IAG Capital Partners and LifeArc Ventures, with returning investors ShangBay Capital and METIS Innovative adding further credibility to the company’s potential. The funding will be used to advance larger clinical trials and expand the product pipeline, with the ultimate goal of bringing the ReSolv™ stent to market more quickly.
Dr. Wong emphasized the significance of the technology, stating, “Our exclusive technology has attracted the attention of international investors of the highest caliber with the depth and breadth of expertise to accelerate company evolution and make its medical devices available sooner to physicians and patients.” Dr. Mitha echoed these sentiments, saying, “This additional strategic and financial capital will enable larger clinical trials as well as broaden our product pipeline. Empowered with greater resources, Fluid Biomed is well-positioned to create the next generation of stents to heal those afflicted with brain aneurysms around the world.”
Jean-Francois Pariseau, co-founder and partner at Amplitude Ventures, expressed strong confidence in Fluid Biomed’s potential. He said, “This financing will propel Fluid Biomed toward realization of the remarkable potential of the ReSolv™ stent. We are strong supporters of entrepreneurial scientists. Fluid Biomed’s founders have utilized their decades of experience to create a truly novel technology that will positively impact patient outcomes.”
Fluid Biomed, based in Calgary, Alberta, is poised to revolutionize the treatment of vascular diseases, particularly brain aneurysms, with its next-generation stent technology. As a clinical-stage company, Fluid Biomed is committed to improving patient outcomes by providing innovative solutions for neurovascular conditions. The ReSolv™ stent, as the world’s first bioabsorbable polymer-based neurovascular stent, offers a promising alternative to traditional stents, with the potential to transform the way brain aneurysms are treated and ultimately reduce the risk of strokes and other complications.
Amplitude Ventures, the lead investor in Fluid Biomed’s Series A round, is a full-stack venture capital firm that focuses on developing breakthrough technologies in the field of precision medicine. With over $500 million in assets under management, Amplitude Ventures applies an evidence-based investment approach to support world-class management teams and innovative healthcare solutions.
Fluid Biomed’s pioneering work represents a major step forward in the medical device field, bringing hope to patients worldwide who suffer from brain aneurysms and other vascular diseases.
