Biomedical Structures LLC raised $3.75 million in an equity offering led by Ampersand Ventures, according to a securities filing and a press release.
The Warwick, R.I.-based company, which makes customized biomaterials and textiles for medical devices, "specializes in the design and manufacturing of crafted, non-woven fibers and biomaterials such as tissue scaffolds and woven vascular grafts," according to the press release.
President John Gray said in prepared remarks that the funding "comes at a critical time” for the company, which was founded in 2003, as demand for its products and services is on the rise. BMS will use the infusion to hire more personnel, buy more advanced equipment and boost its manufacturing capacity, Gray said.
Todd Rainville and Herb Hooper of Wellesley, Mass.-based Ampersand Ventures will join the BMS board of directors, according to both the press release and a Securities & Exchange Commission filing, which lists four un-named backers as being involved in the funding round.