Varian Medical joins embolic therapy tech dev ABK Biomedical ’ s $30m Series B

Varian Medical (NYSE:VAR) has joined a $30 million Series B round of financing for embolic therapy tech developer ABK Biomedical. Palo Alto, Calif.-based Varian Medical Systems led the round alongside F-Prime Capital, Halifax, Nova Scotia-based ABK Biomedical said. “ABK has a unique approach to address a large unmet need for patients with non-resectable liver tumors. This technology is aligned with our goal of delivering innovative solutions in cancer care,” Varian strategy & biz dev VP Gregory Sorensen said in a press release. “We are impressed with the ABK Biomedical team and believe the company has an outstanding product platform with the potential to make a significant impact on the lives of patients with malignant liver tumors,” F-Prime Capital partner Dr. Ketan Patel said in a prepared release. Funds from the round will support continued development of the Eye90 microspheres, designed for transarterial radiation therapy and intended to treat liver tumors, and its Easi-Vue microspheres, intended for the bland embolic treatment of hypervascular tumors. ABK Biomedical said that funds will support R&D, manufacturing and a clinical development program intended to support regulatory submission for both the Eye90 and Easi-Vue, the company 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 platf...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Oncology Radiosurgery/Radiation therapy Wall Street Beat abkbiomedical Varian Medical Systems Source Type: news