Amaranth Medical Announces Investment from Boston Scientific

Amaranth Medical today announced the closing of an equity investment by Boston Scientific Corporation BSX.  The additional investment capital will be used to advance the clinical development of the Amaranth FORTITUDE™ drug eluting bioresorbable scaffold in a planned international clinical study and subsequent application for CE Mark. In addition, the funding will support continued development of the next generation FORTITUDE™ bioresorbable scaffold, which will have thinner struts than any currently available polymeric bioresorbable scaffold."We welcome the Boston Scientific investment as we continue development of the FORTITUDE scaffold and build upon the clinical results we have seen to date," said Kamal Ramzipoor, chief executive officer of Amaranth.  "The properties of the proprietary polymer and the unique manufacturing processes that we developed have allowed us to produce a scaffold with mechanical strength and durability which we believe exceeds that of all currently available bioresorbable scaffolds. We look forward to advancing FORTITUDE into the next stage of clinical development and to continuing our development of the next generation of FORTITUDE scaffold."The non-drug-eluting FORTITUDE scaffold was previously evaluated in a study of 13 patients with symptomatic coronary artery disease, results of which were presented at the annual Transcatheter Cardiovascular Therapeutics (TCT) meeting on October 27, 2013. Data presented at TCT suggested See full press release