Ariste Medical, a Memphis, TN-based pre-commercial drug-device company, raised $4.6m in funding.
The backers were not disclosed.
The company intends to use the funds for product testing and regulatory filings for the drug-eluting hernia mesh, as well as preparation for commercialization in the United States and Europe upon regulatory clearance.
Formed in 2007 by Drs. Timothy Fabian and Lisa Jennings, Ariste Medical Ariste targets clinical complications such as infection, scar tissue formation and clotting associated with implantable surgical devices.
In 2012, the company had received initial seed funding of $1.275m, which supported the prosecution of multiple patents, the opening of a research lab, and the development of plans and programs to support regulatory approval via the 510(k) pathway.
It has been located at the Memphis Bioworks Foundation since 2012.
FinSMEs
21/04/2015