June 1, 2015
Arsenal Medical and 480 Biomedical Raise $26.5 Million in Combined Funding for Development of Novel Products to Treat Vascular Disease and Abdominal Trauma
Arsenal Medical and 480 Biomedical today announced $26.5 million in combined funding from a committed syndicate of investors to advance their respective product platforms. Arsenal Medical, a company developing novel, polymer based foam and nanofiber products, raised $16 million from Polaris Partners, North Bridge Venture Partners, and Intersouth Partners. 480 Biomedical, a clinical stage company developing innovative bioresorbable scaffold products, raised $10.5 million from the same syndicate in conjunction with a long term strategic investor. Both rounds included a conversion of debt, in addition to new equity financing.