ABS appoints new CFO

Advanced Bifurcation Systems, a clinical stage medical device company, has announced the appointment of Ken Richards as chief financial officer (CFO).

Richards has held roles as CFO of both public and private companies, and has worked in private equity and corporate and investment banking, as well as serving on the Biotechnology Industry Organization Finance Committee.

Before joining ABS, Richards was CEO, co-founder and partner of private equity firm, York Bridge Capital and an associated boutique real estate  firm. Previously, he held the role of Managing Director at CIBC World Markets in Los Angeles and Toronto, where he was responsible for a $5 billion debt portfolio and was also a NASD Supervising Principal for CIBC in the United States.

Charles Laverty, CEO of Advanced Bifurcation Systems, said: “Ken has over 30 years of experience as a finance executive, and I am confident he will be a great member of the team at ABS.

“As the CFO of both public and private firms, he has consistently shown his ability to grow companies while delivering impressive financial results. At the same time, he brings to ABS strong regional and international relationships with the financial community through his time in banking, private equity and angel investing. This background is a perfect fit for ABS and makes Ken the ideal executive to help drive ABS forward as we move to commercialize our platform-based technology and pursue regulatory approval,” said

Richards has also served as an adviser to a various companies and is co-founder of the Westlake/Santa Barbara Chapter of Tech Coast Angels, an angel investor network. He also served on the Board of Governors at TCA, the largest angel-funding network in the United States.

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