Bioresorbable Stents That Dismantle In Vivo Over An Optimized Time Horizon

Main Category: Cardiovascular / Cardiology
Article Date: 12 Nov 2007 - 11:00 PDT

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Arterial Remodeling Technologies ("ART") announced that it has closed on a new venture financing round of €5.5 ($7.8) million from investors Matignon Technologies and SGAM Alternative Investments (using existing funds as well as a new fund dedicated to cardiovascular investments: "SEFTI").

Proceeds will be used to pursue CE Mark clearance for the Company's first product, a bioresorbable stent that dismantles in vivo over an optimized time horizon.

"Given the explosive growth and fast adoption rates exhibited by the coated stent market, now in disarray, the bioresorbable coronary stent market presents a compelling opportunity to participate in a potentially disruptive, market-changing technology," said Christophe Douat, a Partner with Matignon Technologies and ART board member. "ART's bioresorbable stents, in particular, represent a whole new concept for stenting and could revolutionize coronary angioplasty in the future," added Béatrice Llirbat, Partner at SGAM Alternative Investments Private Equity. "ART is a compelling opportunity, and the new round will help ART accelerate and reach its first-in-man milestone in 2008," said Eric Viaud, from Bista Consulting Sàrl advising SEFTI, and also an ART board member.

"Our stents are designed to be both hemocompatible and biocompatible, therein causing little or no thrombus or inflammation while disappearing over time," added Patrick Sabaria, a founder, investor, and CEO of ART as well as former Vice President, Europe, for J&J Interventional Systems, where he introduced the world's first approved-for-marketing coronary stent.

About Arterial Remodeling Technologies ("ART")

Arterial Remodeling Technologies ("ART") is developing bioresorbable peripheral and coronary polymer stents that promote the natural remodeling of an injured artery after angioplasty. The Company's technology is based on intellectual property originating from three esteemed institutions: the Cleveland Clinic; the French national research institute, C.N.R.S. (Centre National de Recherche Scientifique), Montpellier, France; and, Necker University, Paris. To date, ART has raised €10 ($14.2) million in venture capital from investors Matignon Technologies and SGAM Alternative Investments.

http://www.art-stent.com