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Watertown’s Arsenal Medical Inc. has raised $10 million in its latest funding round, according to federal documents. The company which started out as WMR Biomedical, was founded in 2005 by North Bridge Venture Partners general partner Carmichael Roberts, with life sciences titans George Whitesides of Harvard University and Robert Langer of MIT.
Listed in the filing with the U.S. Securities and Exchange Commission as directors of the company are Essex Woodlands Health Ventures managing director Guido Neels, Polaris Venture Partners managing general partner Terry McGuire, North Bridge Venture Partners general partner James Goldstein and Intersouth Partners general partner Dennis Dougherty. In total, 11 investors were tallied in the new equity financing.
In March, Arsenal filed for a $1 million debt financing round, adding to the $2 million debt round it reported in January. The company took in $8.2 million of a planned $12.2 million Series C round in May of last year. All told, Arsenal has raised more than $30 million in equity and debt funding since it launched.
Arsenal is developing treatments for ophthalmology and cardiovascular disease using bioactive composite materials. The platform is intended to supply targeted local and systemic therapies to treat chronic diseases and conditions, according to officials. President and CEO Scott Rader was formerly president and CEO of California-based Bacchus Vascular Inc.
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