Amaranth Medical
Bioresorbable scaffolds for interventional cardiology procedures.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
$20.0m | Series B | ||
| Total Funding | 000k | ||
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Amaranth Medical was a medical device company that developed a technology platform for fully bioresorbable scaffolds aimed at the interventional cardiology market. Founded in 2006 by F. Freddy Boey and S. Subbu Venkatraman, the Mountain View-based firm focused on creating coronary stents that could provide mechanical support to an artery after a procedure and then gradually and predictably dissolve, leaving the vessel healed and free from a permanent metal implant. The company's stated mission was to improve long-term patient health by eliminating the clinical limitations associated with permanent stents.
The company's product pipeline included several scaffolds with progressively thinner struts, designed to mimic the performance of best-in-class metallic drug-eluting stents. Key products included the FORTITUDE, APTITUDE, and MAGNITUDE scaffolds. The FORTITUDE scaffold, its lead product, was designed to offer the high radial strength of metal stents while being fully bioresorbable. Amaranth successfully completed first-in-human studies and several international clinical trials for its sirolimus-eluting scaffolds, such as RENASCENT-I, RENASCENT-II, and MEND-II, with plans to seek a CE mark for commercialization in Europe.
Throughout its operation, Amaranth Medical raised significant capital, including a $20 million Series B round in 2013 from investors such as EDBI, Charter Life Sciences, and Phillip Capital. In 2014, it secured an additional equity investment from Boston Scientific to further advance clinical development and pursue CE marking. The company was led by CEO and CTO Kamal Ramzipoor, who emphasized the unique capabilities of Amaranth's proprietary polymer technology in creating thinner, stronger, and more flexible scaffolds compared to competitors. Despite its technological advancements and promising clinical data, the company ceased operations, and its assets were sold in a negotiated sale during an Assignment for the Benefit of Creditors, which was finalized around February 2019.
Keywords: bioresorbable scaffolds, interventional cardiology, coronary stents, medical devices, polymer technology, sirolimus-eluting, FORTITUDE scaffold, cardiovascular, arterial remodeling, clinical trials