Calgary-based startup Fluid Biomed has raised $27 million USD in Series A funding to develop the world’s first bioabsorbable stent for brain aneurysms.

Information on the Target

Calgary-based medical device startup Fluid Biomed has successfully raised $27 million USD in Series A funding to advance the development of its pioneering stent designed for the treatment of brain aneurysms. Founded in 2012 by Dr. John Wong and Dr. Alim Mitha, both academic neurosurgeons and professors at the University of Calgary, this pre-revenue, clinical-stage medtech company aims to create the world’s first bioabsorbable brain stent.

Fluid Biomed's innovative flow-diverting stent is constructed from a unique combination of bioabsorbable polymers and metal, contrasting with traditional stents which are constructed solely of metal. With this funding, the company intends to conduct more extensive human clinical studies to validate the device's efficacy and safety.

Industry Overview in Canada

The medtech industry in Canada has seen substantial growth in recent years, propelled by advancements in medical technology and an increase in healthcare spending. Notably, Can