Fluid Biotech Inc. Raises US $ 4.7 Million in Oversubscribed Seed Funding Round
U.S. Venture Capitalists METIS Innovative and ShangBay Capital Co-Lead Funding Round and Join Board of Directors to Accelerate Company Growth and Development of Unique Bioabsorbable Stent to Cure Aneurysms cerebral
CALGARY, AB, August 11, 2021 / PRNewswire / – Fluid Biotech Inc., a medical device start-up in Calgary, Alberta, Canada, today announced the completion of its Seed fundraiser totaling 4.7 million US dollars and the addition of two new members to its board of directors. METIS Innovative of Miami, Florida, and ShangBay Capital of Palo Alto, California, co-led the company’s oversubscribed funding round, which included new investors UCeed Health Fund and UCeed Child Health and Wellness Fund of University of Calgary, Thin Air Labs, Wharton Alumni Angels, Amino Capital, Bluesky Equities, ThresholdImpact and Alabaster Capital, and additional funding from pre-seed partners.
Brain aneurysms affect up to 5% of people and can lead to a devastating stroke. Fluid Biotech markets the world’s first flow-diverting polymer-metal hybrid brain stent to cure this deadly disease. Uniquely constructed of bioabsorbable polymer and metal, this new device provides scaffolding to allow for better healing and better visualization of blood vessels. With preclinical prototypes demonstrating recovery from the disease in the laboratory, the company will use the new capital to engage contract manufacturers to start production, take regulatory steps and plan for the first human implantation.
“Today’s announcement of international investors with expertise in medical devices and technology further validates our compelling technology and vision,” said Dr. John wong, CEO and co-founder of Fluid Biotech. Dr. Alim Mitha, President, CTO and Co-Founder, said, “The enhanced resources provided by our new partners will accelerate product development from our biomedical engineering lab to market and help transform clinical patient care around the world.” .
As part of this fundraising, Fluid Biotech welcomes to its board of directors: Brian sidman, co-founder and director of METIS Innovative and a veteran of capital accumulation for investment opportunities; and Dr. Chaucer Shen, Managing Partner of ShangBay Capital, who brings over 20 years of industry experience working with international medical device companies.
“The ‘holy grail’ in the evolution of flow diversion technology for the treatment of intracranial aneurysms is creating a safe and effective bioabsorbable stent,” said Sidman. “Fluid Biotech is making this concept a reality. We are delighted to support them in their efforts and believe that Fluid Biotech represents the future of the field.”
Guillaume Dai, Founding Managing Partner of ShangBay Capital, said, “We are very excited about Fluid Biotech’s flow-diverting bioabsorbable stent technology and its tremendous potential to improve outcomes for patients with cerebral aneurysm. “
About Fluid Biotech (https://www.fluidbiotech.com/)
Founded by neurosurgeons, Fluid Biotech is a Canadian company developing the next generation of stent grafts to improve patient well-being and improve health and quality of life through innovation.
About METIS Innovant (https://www.metisinnovative.com/)
Metis Innovative was established in 2017 as an investment vehicle for promising early stage medical devices and technology in neuroscience. Founded by two leading neurosurgeons in academic practice and a veteran of capital investing, the company’s mission is to identify and invest in unique and well-positioned companies focused on scientific breakthroughs.
About Shangbay Capital (https://www.shangbaycapital.com/)
Shangbay Capital is a venture capital firm that provides investors with access to the best investments in the medical device technology, biotechnology and health technology sectors through a private equity venture capital investment. early stage. He has a strong management team with close ties to strategies and innovators and enjoys partnering with founders experienced in disruptive technologies.
SOURCE Biotech Fluid