ABK Biomedical Inc. will receive $2.14 Million from the Atlantic Canada Opportunities Agency (ACOA), under the Atlantic Innovation Fund (AIF). Using ABK Biomedical’s novel embolic microspheres, this funding will enable the company to simplify and enhance chemotherapy and radiotherapy for cancer patients.
"ACOA’s recognition of the potential of our beads to improve embolization and treat tumours is a tremendous boost to ABK,” commented Dr. Daniel Boyd, Chief Scientific Officer at ABK Biomedical.
"This funding will enable us to take our lead product into clinical trials in Nova Scotia and help us move forward two new therapies targeting liver cancers. All these products have the potential to improve cancer treatment right here in Nova Scotia,” remarked Dr. Bob Abraham, Chief Medical Officer at ABK Biomedical.
ABK Biomedical’s OccluRad embolization microspheres are radiopaque. This makes them clearly visible under X-ray and reduces the use of potentially toxic X-ray dye required with other embolic therapies. The combination of ABK’s radiopaque microspheres and its accompanying delivery device makes the device safer, more accurate, and effective for embolotherapy.
With the global market for minimally invasive surgeries reaching $50 billion US by 2019[i], ABK Biomedical’s OcculRad embolization microspheres is well placed to address minimally invasive approaches to uterine fibroid treatment, liver cancer and many other clinical applications. Under the AIF program, ABK will prepare the next generation of its proprietary embolic platform for these clinical applications.
[i] Minimally invasive surgery market is expected to reach USD 50.60 billion globally in 2019: Transparency Market Research. (2014, January 6).