ABK Biomedical Inc.
- Industry
- Medical Equipment Manufacturing
- Founded Year
- 2012
- Headquarters
- Halifax, Nova Scotia, Canada
- Employee Count
- 46
Key People
- Michael Mangano - President & CEO
- Michael Tyson - Chief Financial Officer
- Robert Abraham - Chief Medical Officer
- Gary Donofrio - Chief Commercial Officer
- Marc Gregoire - Vice President of Operations
- David Dobrowski - Vice President of Regulatory Affairs
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with backgrounds in medical technology and business.
The leadership team includes individuals with significant experience in the medical technology sector, such as CEO Michael Mangano, who has a background in medical devices, and CFO Michael Tyson, who brings financial expertise. This collective experience enhances the company's ability to navigate the complexities of the MedTech industry.
- Clinical Need
-
Aspect: Very Strong
Summary: ABK Biomedical addresses a significant unmet need in treating hypervascular tumors.
Hypervascular tumors, characterized by an excessive number of blood vessels, present treatment challenges. ABK Biomedical's products, such as Eye90 microspheres, aim to improve treatment outcomes for these conditions, addressing a substantial clinical need.
- Competition
-
Aspect: Somewhat crowded
Summary: The market for embolic therapies has several established players.
ABK Biomedical operates in a competitive landscape with companies like AngioDynamics and HealthTronics offering similar embolic therapies. This competition could affect the company's ability to capture market share.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing advanced embolic therapies involves moderate technical complexity.
The development of products like Eye90 microspheres involves integrating radiopaque materials with embolic agents, which presents moderate technical challenges. However, the company's experienced team is well-equipped to address these challenges.
- Patent
-
Aspect: Strong
Summary: ABK Biomedical holds a robust patent portfolio supporting its technologies.
With 37 total patent documents, including 21 granted patents and 13 pending applications, ABK Biomedical has established a strong intellectual property position that protects its innovative technologies.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding to support its operations and growth.
ABK Biomedical has raised approximately $87 million in total funding, including a $30 million Series C round in December 2022. This financial backing enables the company to advance its product development and commercialization efforts.
- Regulatory
-
Aspect: Pivotal Trial
Summary: The company is conducting pivotal trials for its lead product.
ABK Biomedical's Eye90 microspheres are currently undergoing pivotal clinical trials, which are essential for obtaining regulatory approvals and subsequent market entry.
Opportunity Rollup
- Odds of Success
- 3.75
- Peak Market Share
- 4.7
- Segment CAGR
- 4.4%
- Market Segment
- Interventional Oncology
- Market Sub Segment
- Embolic Therapies
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.70 |
| 3 | 1.64 |
| 4 | 3.29 |
| 5 | 4.70 |
Key Takeaway
ABK Biomedical is well-positioned in the interventional oncology market with innovative products addressing significant clinical needs, supported by a strong team and robust funding, though it faces competition and regulatory challenges.