Finance Digest: A Roundup of Recent Funding Agreements Arsenal Medical Inc. has raised $10 mill

Finance Digest: A Roundup of Recent Funding Agreements

Arsenal Medical Inc. has raised $10 million in its latest funding round. The Watertown, Mass.-based company has already received a total of $3 million in debt financing this year ($2 million in January and $1 million in March). The firm took in $8.2 million of a planned $12.2 million Series C funding round last May. Overall, Arsenal has raised more than $30 million in equity and debt funding since its 2005 founding. The firm develops treatments for ophthalmology and cardiovascular disease using bioactive composite materials.

Astute Medical Inc., based in San Diego, Calif., completed a $26.5 million Series B financing co-led by Domain Associates and Delphi Ventures. Astute executives said they will use the money to research ways of identifying and validating protein biomarkers. Company officials hope to improve the diagnosis of high-risk medical conditions and diseases through the identification and validation of protein biomarkers.

Breathe Technologies Inc., a 5-year-old company based in San Ramon, Calif., secured $23 million in Series C financing. Led by DAG Ventures, the transaction also included help from Kleiner Perkins Caufield & Byers, Delphi Ventures, Synergy Partners International and Johnson & Johnson Development Corporation. Breathe Technologies officials describe the company as a “developer and manufacturer of medical technologies” to improve lung disease treatment and sleep disorder breathing. “The Series C financing will fund commercialization of Breathe’s mobile ventilation system for the people worldwide with breathing challenges,” said Gregory J. Kapust, Breathe Technologies president and CEO. The company has received U.S. Food and Drug Administration 510(k) clearance for its wearable ventilation system, according to a news release.

Sequent Medical Inc., a privately held, development-stage medical device firm based in Aliso Viejo, Calif., closed a $15.6 million Series B venture capital financing. The financing was led by Domain Associates, joined by existing investors Versant Ventures and US Venture Partners. Sequent Medical President and CEO Tom Wilder said the money will be funneled into the firm’s development programs, including the introduction of a product designed to serve as a treatment alternative for cerebral aneurysms. Founded in 2007, the company develops devices that can advance and improve the endovascular treatment of neurovascular disease conditions.

Exosome Diagnostics Inc., a New York, N.Y.-based developer of minimally-invasive molecular diagnostics, raised $20 million in Series A funding. The transaction was led by NGN Capital in New York, and Forbion Capital Partners based in Naarden, the Netherlands. Company officials said the money will be used to develop and commercialize several “next-generation” body fluid-based oncology diagnostics. The company is establishing research and development and service operations in New York and Munich, Germany.