ART raises $7.8M for bioresorbable stent development

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Arterial Remodeling Technologies (ART) has closed on a new venture financing round of $ 7.8 million U.S. (€5.5 million) from investors Matignon Technologies and SGAM Alternative Investments.

The Paris-based ART said it will use existing funds as well as a new fund dedicated to cardiovascular investments. Specifically, the proceeds will be used to pursue CE Mark clearance for its first product, a bioresorbable stent that dismantles in vivo, ART said.