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Accelerate Fund III invests in Fluid Biomed to advance innovative stent treatment for brain aneurysms
Calgary, AB, December 17, 2024 – Accelerate Fund III today announced its investment in Fluid Biomed, a Calgary-based clinical stage medical device company developing lifesaving products for patients suffering from vascular disease. Accelerate Fund was an early participant in the investor syndicate leading to their recently announced oversubscribed Series A financing.
Brain aneurysms affect millions of people worldwide, with thousands rupturing each year, often leading to disability and death. Developed by University of Calgary’s leading academic neurosurgeons, Dr. John Wong and Dr. Alim Mitha, Fluid Biomed has developed a unique bioabsorbable polymer-based stent technology to treat brain aneurysms.
“Fluid Biomed is well positioned to create the next generation of stents to heal those afflicted with brain aneurysms around the world,” said Dr. Wong, CEO and Co-Founder of Fluid Biomed. “Our exclusive technology has attracted the attention of international investors of the highest caliber with the depth and breadth of expertise to accelerate company evolution and make its medical devices available sooner to physicians and patients.”
The ReSolv™ stent has been validated by years of scientific research, with functional benefits demonstrated in a first-in-human clinical study. Fluid Biomed plans to use the proceeds to further validate the ReSolv™ stent and its proprietary delivery system in expanded patient studies.
“Unlike traditional metal stents, Fluid Biomed’s innovative polymer-based technology dissolves over time, enabling better healing and preserving future treatment options,” said Arden Tse, Investment Manager, Accelerate Fund. “We’re impressed with the team’s strong regulatory expertise and are excited to support their clinical advancement alongside leading life science investors.”
About Fluid Biomed
Fluid Biomed Inc. is a clinical stage medical device company based in Calgary, Alberta, Canada, that is developing the next generation of stents to treat vascular disease. Founded by accomplished neurosurgeons with expertise in scientific research and clinical care, the company has created ReSolv™, the world’s first bioabsorbable polymer-based neurovascular stent, to cure brain aneurysms which are a leading cause of stroke and disability worldwide.
About Accelerate Fund III
Accelerate Fund III is an early-stage angel co-investment fund in Alberta. We co-invest alongside angel investors in financing rounds and will typically invest up to $500,000 on the same terms and conditions as private investors. We work with formal angel groups, super-angels, family funds, and individual angel investors. Accelerate Fund III invests in private, early-stage Alberta companies in knowledge-based industries including: information and communications technology, energy technology, as well as life sciences, including agriculture and biotech. Accelerate Fund III is managed by Yaletown Partners with the support of The A100. Alberta Enterprise Corporation is Accelerate Fund III’s lead limited partner with support from other investors, including Opportunity Calgary Investment Fund.
Media Inquiries:
Accelerate Fund III
Claudia Moore
Material Insight
403.703.0029
Claudia @ materialinsight.com