Advanced Bifurcation Systems Inc. Secures $20.8 Million in Financing and Expands Board of Directors

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
[email protected]

Henry Bourang President & COO
[email protected]

Ken Richards CAO/CFO
[email protected]

SOURCE Advanced Bifurcation Systems