LIVERMORE, Calif., Jan. 17,
2025 /PRNewswire/ -- Advanced Bifurcation Systems
Inc. (ABS), a leader in innovative solutions for bifurcation
lesions in coronary angioplasty, announces the successful closure
of a $20.8 million Simple Agreement
for Future Equity (SAFE) financing round. The round was
oversubscribed, reflecting strong demand from high-net-worth
individuals and family offices across the
United States and internationally.
The company is also pleased to welcome two distinguished members
to its expanded Board of Directors:
Malia
Chui: Representing Brandon Holdings, LLC, ABS's
largest investor through the recent SAFE financing. Malia brings
decades of expertise in investment management, with a
specialization in healthcare, including hospital ownership and
operations. Her strategic vision and leadership in navigating
complex healthcare investments will be instrumental as ABS scales
its operations.
Susan Yashar: A
seasoned executive and legal expert, Susan recently retired as
Deputy Global CEO and General Counsel of Deloitte Global, the
world's largest professional services firm. Prior to Deloitte, she
served in senior roles at the Securities & Exchange Commission
and the Public Company Accounting Board. Among other things, Susan
brings deep experience in regulatory compliance, corporate
governance and managing international business. Her background will
provide ABS with unparalleled insights as the company navigates
regulatory approvals and expands globally.
Mehran Khorsandi, MD, CEO
of ABS, stated:
"We are honored by the strong support shown by our investors in
this oversubscribed financing round. Many of them are industry
experts who recognize the transformative potential of our
technology. We are equally excited to welcome Malia Chui and Susan
Yashar to our Board of Directors. Their expertise, alongside
guidance from Willie Lawrence, MD,
as a new member of our Scientific Advisory Board and Advisor to the
CEO, will be instrumental as we advance through U.S. FDA and
international regulatory processes and prepare for the
commercialization of the ABS device."
This milestone builds on the company's receipt of the FDA's
coveted Breakthrough Device Designation in October 2023, underscoring the device's potential
to address a critical unmet need in interventional cardiology.
For more information about Advanced Bifurcation Systems and its
groundbreaking approach to coronary artery bifurcation disease,
visit www.advancedbifurcation.com.
Contacts:
Advanced Bifurcation Systems, Inc.
Mehran Khorsandi, MD, Chairman
& CEO
mehran.khorsandi@advancedbifurcation.com
Henry Bourang President &
COO
henry.bourang@advancedbifurcation.com
Ken Richards CAO/CFO
ken.richards@advancedbifurcation.com
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SOURCE Advanced Bifurcation Systems
