FDAnews Device Daily Bulletin

STENT DEVELOPER ALVEOLUS CLOSES ON $15 MILLION IN NEW FINANCING

April 28, 2006
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Alveolus, a company focused on development of non-vascular stent technology, has another $15 million in the bank. The Charlotte-based medical device firm, which was launched in 2001, has now raised more than $30 million in three rounds of venture capital. The funds will be used to "catalyze" the company's product development, Alveolus said in a statement. It is already selling stent products in Europe. WRAL Local Tech Wire (http://www.localtechwire.com/article.cfm?u=13838)