Arsenal Medical Spins Off 480 Biomedical, Adds VC
Arsenal Medical, a Watertown, Mass.-based bio-pharma company, has spun out 480 Biomedical Inc. as a stand-alone company focused on the development of a bioresorbable scaffold for treating occlusive disease in the femoral artery. The company also announced a $15 million round for 480 Biomedical, which will be used to fund clinical studies. Also, a $3 million round for Arsenal Medical will be used to support its proprietary nanofiber-based drug delivery and therapeutic foam product platforms. Polaris Venture Partners, North Bridge Venture Partners and Intersouth Partners contributed to both rounds.
26 October 2011•4 mins read
