Market Overview

Amaranth Medical Announces Investment from Boston Scientific


Amaranth Medical today
announced the closing of an equity investment by Boston Scientific
Corporation (NYSE: BSX).  The additional investment capital
will be used to advance the clinical development of the Amaranth
FORTITUDE™ drug eluting bioresorbable scaffold in a planned
international clinical study and subsequent application for CE
Mark. In addition, the funding will support continued development
of the next generation FORTITUDE™ bioresorbable scaffold, which
will have thinner struts than any currently available polymeric
bioresorbable scaffold."We welcome the Boston Scientific investment as we continue
development of the FORTITUDE scaffold and build upon the clinical
results we have seen to date," said Kamal Ramzipoor, chief
executive officer of Amaranth.  "The properties of the
proprietary polymer and the unique manufacturing processes that we
developed have allowed us to produce a scaffold with mechanical
strength and durability which we believe exceeds that of all
currently available bioresorbable scaffolds. We look forward to
advancing FORTITUDE into the next stage of clinical development and
to continuing our development of the next generation of FORTITUDE
scaffold."The non-drug-eluting FORTITUDE scaffold was previously evaluated
in a study of 13 patients with symptomatic coronary artery disease,
results of which were presented at the annual Transcatheter
Cardiovascular Therapeutics (TCT) meeting on October 27, 2013. Data
presented at TCT suggested

See full press release

Posted-In: News Guidance Offerings Management M&A Global


Related Articles (BSX)

View Comments and Join the Discussion!