Point Bio Raises $57 Million

Point Biomedical Corp., a San Carlos, Calif.-based developer of medical imaging and drug delivery solutions, has raised $57.32 million in Series A recap funding. The round is tranched out, with the first $25 million already called down. The remainder is based on a milestone that Point Biomedical plans to achieve this April.

Vedanta Capital led the round, and was joined by return backers like William Blair Capital Partners, De Novo Ventures, Institutional Venture Partners, Saints Capital, Sprout Group and CHL Medical Partners.

Point Biomedical previously had raised over $100 million.