Our approach is to achieve temporary stenting of the traumatized angioplasty site
PARIS (PRWEB) January 15, 2008
In November 2007, ART announced that it had closed on a new venture financing round of EUR 5.5 ($7.8) million from investors Matignon Technologies and SGAM Alternative Investments. Proceeds are being used to pursue CE Mark clearance for ART's first product.
"Our approach is to achieve temporary stenting of the traumatized angioplasty site," said Patrick Sabaria, 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, the Palmaz stent.
"It should be noted that bioresorbability is not an end by itself," added Mr. Sabaria. "Our stent is designed to provide the requisite initial mechanical scaffolding to resist acute recoil, but as it dismantles over time due to bioresorbability, the possibility of arterial remodeling returns to the artery. We have validated our novel manufacturing process, and the leasing of a manufacturing facility is certainly an important milestone in ART's commercialization evolution."
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 EUR 10 ($14.2) million in venture capital from investors Matignon Technologies and SGAM Alternative Investments.