Point Biomedical receives $25 million

AuntMinnie.com staff writers

Feb 5, 2008

Ultrasound contrast developer Point Biomedical closed $25 million in funding, the first tranche of $50 million in private equity financing led by Vedanta Capital.

The San Carlos, CA-based company plans to complete clinical development and begin commercialization of its Cardiosphere ultrasound imaging agent, for the management of ischemic diseases.

Point expects to draw the second tranche of funding in the second quarter of 2008.

Related Reading

Point Biomedical agent accepted for FDA review, February 28, 2006

Point Biomedical scores financing, August 19, 2004

Copyright © 2008 AuntMinnie.com

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