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December 16, 2024
Fluid Biomed Closes Financing for Studies of ReSolv Stent in Brain Aneurysms
December 16, 2024—Fluid Biomed Inc. announced it closed a $27 million Series A equity financing round. The funds will be used to advance clinical investigations of the company’s bioabsorbable polymer-based ReSolv stent technology to treat brain aneurysms.
The company advised that it plans to use the proceeds to further validate the ReSolv stent and its delivery system in expanded patient studies.
The press release stated that the ReSolv stent was developed by company cofounders John Wong, MD, who serves as Chief Executive Officer of Fluid Biomed, and Alim Mitha, MD, who is the company’s President and Chief Technology Officer. Both Dr. Wong and Dr. Mitha are neurosurgeons at the University of Calgary in Calgary, Canada.
The financing round was led by Amplitude Ventures and an undisclosed major strategic partner. New participants in the investment syndicate include IAG Capital Partners and LifeArc Ventures. Returning investors include ShangBay Capital and METIS Innovative, stated Fluid Biomed’s press release.
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