ABK Biomedical, a medical device company specializing in advanced imageable embolic technologies, has raised an oversubscribed $35 million in its Series D funding round. The investment was led by new investor J.P. Morgan Life Sciences Private Capital, with continued participation from existing backers F-Prime, Santé Ventures, Eight Roads Ventures, and a major undisclosed medical device company.
The new funding will be used to support ongoing clinical operations, accelerate preparations for the commercialization of ABK’s flagship product, Eye90 microspheres, and fund further product development and innovation. The company also plans to expand its manufacturing and supply chain capabilities to ensure sufficient capacity for Eye90 microspheres as it approaches the commercial phase.
Founded with a mission to improve outcomes for patients with benign and malignant hypervascular tumors, ABK Biomedical has been developing embolic medical devices designed to be visible under imaging during and after treatment procedures. Eye90 microspheres—ABK’s lead product—has been granted Breakthrough Device Designation by the U.S. Food and Drug Administration (FDA), a status recognizing its potential to provide more effective treatment for life-threatening or debilitating conditions such as liver cancer.
The company is currently conducting the Route90 FDA Investigational Device Exemption (IDE) pivotal trial, evaluating the safety and efficacy of Eye90 microspheres. The trial is expected to deliver one of the most comprehensive data sets ever collected in the field of interventional oncology, supporting regulatory approval and future market adoption.
ABK Biomedical’s leadership said the new financing will help the company build on years of progress since its earlier funding rounds. The addition of J.P. Morgan Life Sciences Private Capital to its investor syndicate marks a significant milestone, bringing strategic expertise and resources to help the company transition from late-stage clinical development to commercialization.
The company has steadily advanced its technology and operations since its Series B funding in 2019, earning recognition for its R&D capabilities, intellectual property in inorganic polymer microspheres, and proprietary delivery systems. ABK maintains its own R&D and manufacturing facilities, which provide end-to-end control over the development and production of its embolotherapy products.
Eye90 microspheres are designed to enhance precision and visibility in Yttrium-90 (Y90) radioembolization procedures, a growing segment within the interventional oncology device market. With Y90 therapies already representing a double-digit growth area, ABK aims to position Eye90 as a differentiated solution that combines innovative design with improved procedural visibility and safety.
KEY QUOTES:
“We have been extremely impressed with the progress ABK Biomedical has made dating back to its Series B funding round in 2019. ABK’s development of Eye90 microspheres has been recognized by the FDA as a Breakthrough Device Designation, having the potential to more effectively treat life-threatening or irreversibly debilitating diseases or conditions. They are executing well in their Route90 FDA IDE pivotal trial, and we are excited to help support the next steps in their company’s evolution.”
Joe Siletto, Managing Partner, J.P. Morgan Life Sciences Private Capital
“I am humbled by the outpouring of investor interest in this funding round. We welcome J.P. Morgan Life Sciences Private Capital to our Board of Directors, joining our outstanding syndicate of investors. Our ABK team is a best-in-class organization and continues to achieve our product development goals for our embolic platforms while executing our FDA IDE pivotal trial. Our Route90 PIs, investigators, and research support staff are conducting the study with exceptional rigor, in what we feel will be one of the most robust data sets ever completed within the Interventional Oncology subspecialty. We’re looking forward to our Route90 study demonstrating the breakthrough promise of Eye90 microspheres, offering better care for patients with liver cancer.”
Mike Mangano, President and CEO, ABK Biomedical
“Our investment began in 2019, and we’re proud of the progress and tremendous collaboration between ABK Biomedical and F-Prime. The advanced design of Eye90 microspheres, its novel delivery system, forward-thinking supply chain, and robust data set are poised to do very well in the marketplace. It is primed to take market share and drive market development in this Y90 radioembolization double-digit growth segment within the interventional oncology device market. We’re excited to build on our investment and partner with ABK in this latest funding raise.”
Dr. Ketan Patel, Managing Partner, F-Prime
