VIVOLTA today announced that it has raised €7M in a new funding round with participation from existing shareholders and the Dutch government’s NXTGEN HIGHTECH growth fund.
VIVOVLTA’s newly secured funding will strengthen its full suite of client-centric services, particularly in the areas of application development, engineering, commercial support, quality, regulatory, and manufacturing. The proceeds will also support the expansion of the Company’s ISO class 7 production area footprint in preparation for clinical and commercial launch of various client projects scheduled in the coming three years.
Additionally, VIVOLTA will expand the capabilities of its proprietary MediSpinTM platform, the world’s first and only fully automated medical electrospinning production system, for high-throughput manufacturing of tubular electrospun products such as vascular stent grafts and prosthetic heart valves. Based on its fully customizable, modular design and integrated, automated quality systems, the MediSpinTM platform cures the Achilles’ heel of medical electrospinning by removing operator-dependent inconsistencies, reducing scrap rate, and achieving the quality, volumes, and price points required by the medical industry.
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