Silicon Valley-based Amaranth Medical has raised $20m in series B financing led by DCP Management.

The Nanyang Technological University (NTU) spin-out is commercialising a bioresorbable scaffold used for treating coronary artery disease, called Fortitude. The latest round of funding will go to support development of the scaffold and an upcoming clinical trial.

Existing backers Bio*One Capital, Charter Life Sciences and Phillip Capital all joined the round, as well as Venstar Capital, a new investor.

Fred Schwarzer, chairman of the Amaranth…

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