Arsenal Medical Secures $14M to Support ResQFoam Development
Arsenal Medical has agreed to a contract with the U.S. Army Medical Research and Materiel Command worth more than $14 million to support clinical and manufacturing development and the U.S. regulatory submission process for the company’s ResQFoam.
A biocompatible, self-expanding biomaterial, ResQFoam works to stop massive blood loss in patients with severe internal bleeding within the abdomen. Causes of the bleeding could be from automobile crashes, gunshot or stab wounds or severe falls.
Together with previous funding from the Defense Advanced Research Projects Agency and the Army Research Office, the company has reeled in $35 million from the U.S. Department of Defense.
Arsenal also is exploring additional applications for the system beyond the abdomen. — Michael Cipriano