Vestagen Technical Textiles, a developer of performance textile products and technologies, has raised an additional $7.3 million in an extension of its recent financing round, bringing the round total to about $15.5 million. The company raised $8.25 million in a tranche led by Advent Life Sciences earlier this year. New investors Sofinnova HealthQuest Capital and the Clearwell Group participated in the additional funding. As part of the transaction, Sofinnova HealthQuest partner Randy Scott will join the Vestagen Board of Directors.
The new capital will support expanded commercialization of Vestex, nanotechnology-based apparel that repels dangerous fluids, resists stains, wicks away perspiration and controls odors. Vestagen’s initial focus is on medical scrubs and other protective apparel for healthcare workers who are at daily risk of exposure to dangerous contaminants.