Point Biomedical raises $27.1M

Imaging company Point Biomedical (San Carlos, Calif.) raised $27.1 million in a private round. Point will use the funds to submit an NDA for its CardioSphere ultrasound imaging agent to assess myocardial perfusion in patients with coronary artery disease. The company said approval of CardioSphere would enable cardiologists to diagnose coronary artery disease using standard ultrasound equipment and without the use of radioisotopes. The compound completed Phase III trials in March. ...