Atreaon and Arsenal Spinoff 480 Biomedical Nab Funds

Here are a couple of mid-week life sciences financings.

—Watertown, MA-based Arsenal Medical, a developer of biomaterial-based scaffold and drug delivery products, announced it is spinning out a new company called 480 Biomedical. Both firms raised new funding ($15 million for 480 and $3 million for Arsenal) from Arsenal Medical’s return investors Polaris Venture Partners, North Bridge Venture Partners, and Intersouth Partners. 480 Biomedical, which will focus on scaffold technology used in treating a form of peripheral vascular disease known as SFA occlusive disease, received part of its funding from an unnamed strategic investor, according to the announcement.

—A new biotech company Atreaon raised $8 million of a targeted $20 million from one investor, an SEC filing shows. The document names Isaac Cheng and Reenie McCarthy of Morningside Group as company directors and lists Morningside’s Newton, MA, address as the Atreaon company address.

Author: Erin Kutz

Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.