Helping ABK Biomedical Inc. get its Production Green Light
Supporting the design, development and commercialization of imageable microspheres for treatment of tumours in Halifax
February 22, 2018 – Halifax, NS – Atlantic Canada Opportunities Agency
Canadians will soon benefit from an innovative, minimally invasive treatment for cancerous and benign tumors as a result of a Government of Canada investment of $2,999,699 in ABK Biomedical. This support will help the medical devices firm produce and commercialize a variety of sizes of its patented imageable microspheres (tiny beads) in-house. The successful commercialization of this innovation will lead to new business opportunities and more well-paying jobs as the microspheres are set to compete in global markets.
The funding was announced today by Darrell Samson, Member of Parliament for Sackville-Preston-Chezzetcook, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).
The contribution, being made through ACOA’s Atlantic Innovation Fund, is going towards the design and development of custom equipment as well as getting the regulatory approval needed for ABK Biomedical to scale-up its manufacturing process. It will also help the company conclude a clinical study, enabling it to obtain regulatory approval to sell its medical devices in Canada, the United States and the European Union. This project will create six good quality jobs with the potential for more as demand for the product grows.
This project builds on the Government of Canada and the four Atlantic Provinces’ commitment to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy. The strategy involves targeted actions to support innovation in industries such as life sciences, which is helping to expand and diversify the regional economy.
“Innovation isn’t just about finding solutions that make our lives better; it’s about improving everyone’s quality of life. That is why the Government of Canada is committed to supporting projects such as this one, which will have an international impact while enhancing Atlantic Canada’s ability to compete in the global marketplace.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“ABK Biomedical is one of the firms keeping Atlantic Canada’s life sciences community on the leading-edge. By keeping the manufacturing local, ABK will create new jobs and economic opportunities in the area, while setting itself up for international export. Today’s announcement will secure the commercialization of the microspheres to help cancer patients worldwide.”
- Darrell Samson, Member of Parliament for Sackville-Preston-Chezzetcook
“This investment enhances our competitive presence by allowing us to accelerate plans to manufacture and export medical devices internationally directly from Halifax. ABK is now positioned to develop and sustain high quality jobs in the medical device sector in Atlantic Canada and our company and products will soon help improve the lives of patients with hyper vascular tumours globally.”
- Dr. Bob Abraham, CEO, ABK Biomedical Inc.
ACOA’s focus on innovation is designed to help bring to market new products, technologies and services that will improve the competitiveness and productivity of the Atlantic economy.
ABK’s imageable microspheres are inserted into veins and capillaries to stop blood flow to tumors or abnormal areas of growth, leading to their shrinkage, treatment and elimination.
What distinguishes ABK’s product from others on the market is that its microspheres can be seen using conventional x-ray fluoroscopy and CT scans.
The visibility of the product leads to better efficacy and patient outcomes as interventional radiologists can view where the microspheres are within the body and determine the best treatment options.
Director, Communications and Outreach
Atlantic Canada Opportunities Agency
Phone: 902-426-9417 / 902-830-3839 (cell)
Dr. Bob Abraham
CEO & Co-Founder
ABK Biomedical Inc.
Phone: (902) 442-4009
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