Medical device innovator ABK Biomedical has raised $35 million USD ($49.1 million CAD) in Series D funding to bring its Eye90™ microspheres, a next-generation treatment for liver cancer, to market.
The round was led by J.P. Morgan Life Sciences Private Capital, which joins ABK’s board as part of its first investment in the company. Returning investors F-Prime Capital, Santé Ventures, Eight Roads Ventures, and a major undisclosed medical device company also participated.
Advancing Imageable Radioembolization Therapy
The funding will accelerate commercialization efforts, clinical trials, and manufacturing scale-up for ABK’s Eye90 microspheres — the first and only imageable Y90 radioembolization device designed to improve both treatment precision and patient outcomes.
Unlike conventional Y90 microspheres, Eye90’s “x-ray visible” particles allow clinicians to see and verify precise placement during treatment, enhancing both safety and efficacy in targeting liver tumors.
“We’re looking forward to our Route90 study demonstrating the breakthrough promise of Eye90 microspheres, offering better care for patients with liver cancer,” said Mike Mangano, President and CEO of ABK Biomedical.
Eye90 received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in 2023 — a recognition granted to technologies that could offer more effective treatment for life-threatening conditions lacking adequate alternatives.
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From Academic Research to Global Innovation
Founded in 2012 at Dalhousie University by Dr. Daniel Boyd, Dr. Sharon Kehoe, and Dr. Robert Abraham, ABK Biomedical began as a spin-out focused on advanced biomaterials. The team developed and patented a microsphere technology platform that evolved into Eye90 — a minimally invasive solution combining embolization and targeted radiation therapy.
The company’s Route90 clinical study, launched in 2021, is currently expanding into a second phase to evaluate Eye90 in 120 patients with liver cancer.
Series D Fuels Commercialization and Growth
The new capital will support:
- Clinical operations and trial expansion
- Manufacturing and supply chain scale-up
- Regulatory and commercial readiness for Eye90’s market launch
ABK previously raised a $30 million USD Series C in 2022 to advance Eye90’s R&D. With the Series D, the company’s total funding now exceeds $140 million CAD, underscoring strong investor confidence in its breakthrough technology.
“This Series D financing enables us to advance Eye90 through late-stage development and toward full commercialization,” added Mangano. “Our goal is to make this transformative therapy widely available to patients worldwide.”
About ABK Biomedical
ABK Biomedical is a Halifax-based medical device company pioneering next-generation imageable embolic therapies for interventional oncology. Its flagship product, Eye90™ microspheres, delivers targeted Y90 radioembolization therapy for liver cancer with real-time imaging visibility. Founded at Dalhousie University, ABK integrates material science and clinical expertise to develop safer, more precise, and more effective cancer treatments.
