Advanced Bifurcation Systems Secures Financing for Technology Development

January 22, 2025—Advanced Bifurcation Systems Inc. (ABS), a developer of solutions for bifurcation lesions in coronary angioplasty, recently announced the closure of a $20.8 million Simple Agreement for Future Equity (SAFE) financing round.

As previously announced, ABS is developing a stent delivery system designed to treat all coronary bifurcation lesions in coronary angioplasties.

This SAFE financing builds on receipt of FDA Breakthrough Device designation in October 2023, which underscores the device’s potential to address a critical unmet need in interventional cardiology, stated the company.

The company also named Malia Chui and Susan Yashar to its expanded Board of Directors.

According to the company, Chui represents Brandon Holdings, LLC, ABS’s largest investor through the recent SAFE financing. She brings decades of expertise in investment management, with a specialization in health care, including hospital ownership and operations.

Yashar recently retired as Deputy Global CEO and General Counsel of Deloitte Global and previously served in senior roles at the Securities & Exchange Commission and the Public Company Accounting Board.

Mehran Khorsandi, MD, who is CEO of ABS, commented on these developments in the company’s press release.

“We are honored by the strong support shown by our investors in this oversubscribed financing round,” stated Dr. Khorsandi. “Many of them are industry experts who recognize the transformative potential of our technology.”

He continued, “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 United States FDA and international regulatory processes and prepare for the commercialization of the ABS device.”