News Summary

ABK Biomedical, a Halifax-based medical device company, has successfully raised $35 million USD ($49.1 million CAD) in Series D funding. The round was led by J.P. Morgan’s Life Sciences Private Capital, with participation from existing investors such as F-Prime Capital, Santé Ventures, and Eight Roads Ventures. This funding will support the commercialization of ABK’s Eye90 microspheres, a novel technology designed for the treatment of liver cancer. The company was founded in 2012 by Dr. Daniel Boyd, Dr. Sharon Kehoe, and Dr. Robert Abraham at Dalhousie University. ABK’s Eye90 microspheres, which are x-ray visible, have been undergoing clinical trials since 2021 and recently received FDA Breakthrough Device Designation. The latest round of funding will enhance ABK’s clinical operations and expand its manufacturing capabilities to ensure the successful market entry of its innovative treatment.