Bioresorbable Stent Company Raises $8.5 Million

 

October 1, 2010

October 1, 2010 – The maker of a biodegradable stent has brought in $8.5 million during a new round of venture financing from existing investors. Arterial Remodeling Technologies (ART) now has $17 million in total investment from Matignon Technologies, Amundi Private Equity Funds and InnoBio Fund managed by CDC Enterprises.

"ART has made very significant progress over the past 22 months, and this new cash infusion will accelerate the development of our breakthrough approach of simultaneously balancing biocompatibility, biomechanics, and bioresorption within a bioresorbable PLA (polylactic acid) stent," said Machiel van der Leest, CEO.

In May 2010, ART disclosed the results of an in vivo study of 48 porcine arteries implanted with its biodegradable stent. The study demonstrated that the stent’s biodegradation is measurable and begins at the first day of implant, and it retains high radial strength, thus maintaining its structural integrity during biodegradation. Additionally, the stent causes virtually no inflammation.

"Our disruptive technology for fully resorbable coronary stents is designed to promote natural remodeling of an injured artery after angioplasty,” van der Leest said.

Earlier this year, validating data regarding ART's bioresorbable stent was published in the January 2010 special supplement of EuroIntervention, a peer-reviewed journal. The paper was authored by Antoine Lafont, M.D., Ph.D., head of Interventional Cardiology Department, Georges Pompidou Hospital (Paris), past chairman, Interventional Cardiology Group, European Society of Cardiology (ESC).

ART's bioresorbable stent is designed to be delivered by conventional stenting techniques, is balloon-expandable and meets the market standard of 6-French compatibility. ART's biopolymers have been developed in conjunction with one of the world's leading authorities in polymer chemistry, Professor Michel Vert, who is former director of the Research Center for Artificial Biopolymers at France's National Center for Scientific Research (Centre National de Recherche Scientifique/CNRS).

For more information: www.art-stent.com

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