Vascular Magnetics is developing Vascular Magnetic Intervention (VMI), a system that combines biodegradable magnetic drug-loaded particles, a magnetic targeting catheter, and an external device to focus delivery to diseased arterial sites. The company’s initial product uses paclitaxel-loaded particles that remain in the arterial wall and release drug over a sustained period to reduce restenosis. VMI is intended to deliver higher local drug concentrations than drug-eluting stents and has longer-term potential for targeted delivery to other body sites. The company says the funds will allow completion of preclinical development and initiation of an initial clinical trial, expected to begin in 2014. Vascular Magnetics was established in 2010, licensed its technology from The Children’s Hospital of Philadelphia, and was seeded by the QED Proof of Concept Program at the University City Science Center.

Total raised

$7M

Funding rounds

1

Latest round

Series A

Latest activity

Feb 2012