Advanced Bifurcation Systems
Charles Laverty Announces Major Expansions at Advanced Bifurcation Systems
Friday, January 12, 2018 3:30 PM
LOS ANGELES, CA / ACCESSWIRE / January 12, 2018 / Charles Laverty, a former 'Turnaround Entrepreneur of the Year,' has been in numerous senior management roles over the years and is now CEO of Advanced Bifurcation Systems. Under him, Advanced Bifurcation Systems has brought in a new CFO, Ken Richards, launched a growth capital fundraising round and received much positive media attention.
The latest executive to join the leadership team is Scott King, Chief Compliance Officer. King, Richards and Vice President of Global Business Development, Drew Foster, all have years of experience in medical devices and believe that the method they are offering has the potential to become the standard of best practice in the years ahead.
Their method provides a simple and effective way to improve the way bifurcation lesions are handled when doing coronary angioplasties. The new method offers the surgeon a way to put stents into both vessels of the bifurcate lesion virtually simultaneously. This is made possible by using a dual catheter system. The bifurcating stent is automatically aligned with this method, avoiding the problem of overlaps and gaps experienced by surgeons at present.
Charles Laverty believes this groundbreaking method could in some cases prevent the need for open-heart surgery. Patients would be able to have procedures done as day surgeries potentially reducing healthcare cost. It would also reduce problems with stents failing, meaning less return visits to surgeons.
The 20 years of research done by Chief Medical Officer, Dr. Mehran Khorsandi and CTO, Henry Bourang, led to the development of this method. Dr. Khorsandi recently had an opportunity to share the method at the European Bifurcation Club meeting in Portugal, sponsored by ABS. Thought leaders in the cardiac intervention field responded enthusiastically to his speech.
ABS currently has 10 patents in progress but has already accumulated 34. This represents significant intellectual property for a startup that still must be approved by the FDA. The company's application is currently being prepared. ABS is in the process of developing plans for submission to the United States Food and Drug Administration and other regulatory agencies. The next critical step for the company is requesting approval and the company is developing all required regulatory processes for the respective regulatory agencies.
The first capital fundraising tranche was closed and the company is putting plans in place to start human trials in New Brunswick, Canada. Charles Laverty says he looks forward to working hand in hand with New Brunswick health professionals and believes that quality data will come out of the trials. The company is in the process of opening a facility in New Brunswick, Canada which will serve global customers once the human trials have been completed and the company receives regulatory approval.
Advanced Bifurcation Systems
Chief Executive Officer
SOURCE: Advanced Bifurcation Systems