ART Raises New Funds

Arterial Remodeling Technologies, a Paris-based developer of bioresorbable peripheral and coronary polymer stents, has raised EUR 5.5 million in new VC funding. Backers include Matignon Technologies and SGAM Alternative Investments.

Arterial Remodeling Technologies (“ART”) announced today that it has closed on a new venture financing round of EUR 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 B