480 Biomedical raises $10.5M

What does 480 Biomedical do?

480 Biomedical, is a clinical stage company which develops innovative bioresorbable scaffold products for treating occlusive diseases in the superficial femoral artery. Its lead product, SFA scaffold, is a proprietary scaffold and delivery system used for treating peripheral arterial diseases in the superficial femoral artery. This company was founded for advancing clinical scaffold technologies from Arsenal Medical. The 480 Biomedical scaffold technology combines biocompatible materials with innovative engineering for optimal balance of radial force, bioresobability and flexibility. The company’s proprietary scaffold is also ideal for controlled delivery of drug for up to many months.

How much 480 Biomedical was funded?

480 Biomedical raised $10.5M in Venture round on June 1^st from North Bridge Venture Partners & Growth Equity, Polaris Partners and Intersouth Partners.  The company raised a total of $26M in combined funding with Arsenal Medical, a company which is developing novel, polymer based foam and nanofiber products. 480 Biomedical raised $10.5 M funded by a long term strategic investor. Both the rounds for 480 Biomedical and Arsenal Medical includes debt conversion and new equity financing.

Previous funding

$18M in Venture round on April 12, 2013

$5M in Debt Financing on October 30, 2012

$15M in Series A on February 14, 2012 from North Bridge Venture Partners & Growth Equity, Polaris Partners and Intersouth Partners.

What is next for 480 Biomedical?

In 2011 both the companies  have spun out from each other and have advanced innovation down exciting yet different paths.

The company is advancing the 1^st fully self expanding, bioresorbable scaffold platform technology for treating vascular diseases in pediatric and adult patients.

For pediatric patients, the company is developing the bioresorbable scaffold to treat patients who are suffering from pulmonary artery stenosis, with limited options for treatment.

 More about 480 Biomedical
480 Biomedical was founded in 2011 by Robert S. Langer, Carmichael Roberts and George Whitesides. It has its headquarters in Watertown, MA.