WAALRE, Netherlands--(BUSINESS WIRE)--VIVOLTA, a world leader in the development and manufacturing of electrospun medical products, 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.
VIVOLTA’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 Achille’s heal of medical electrospinning by removing operator-dependent inconsistencies, reducing scrap rate, and achieving the quality, volumes, and price points required by the medical industry.
In 2021, VIVOLTA embarked on a new strategy, transitioning from an equipment manufacturer (formerly IME) into a contract development and manufacturing organization. On behalf of its clients, VIVOLTA now develops and manufactures electrospun medical solutions that guide the body to heal itself and improve patients’ lives. It has secured development partnerships with leading clients, ranging from world leading medical device manufacturers to innovative startups alike, reinforcing its position as the industry’s trusted partner for the realization and commercialization of electrospun medical products, such as Class 3 medical devices and drug delivery implants.
In its next growth phase, VIVOLTA is concentrating on key application areas where electrospun solutions can add significant value to patient care in the near-term, including cardiovascular medicine, soft tissue repair and reconstruction, orthopedic sports medicine, and advanced drug delivery systems.
Ramon Solberg, CEO at VIVOLTA, said:
“As a pioneer and global leader in the electrospinning sector, we are excited about further executing our strategy as the medical industry’s trusted partner for contract development and manufacturing of electrospun medical products, and we are delighted to receive the continued support from our existing shareholders and national support from the Dutch government.
“These funds will enable us to further advance our initiatives to transform our partners’ design concepts into fully scalable commercial products. Moreover, our MediSpinTM platform gives us a strong advantage by being able to commercially manufacture electrospun medical products with the quality, consistency, and volumes required by the medical industry.
“By leveraging our unique in-house core competences, proprietary technology, and the MediSpinTM production platform, we can play an important role in creating a broad array of high value electrospun medical products with unmet clinical need.”
VIVOLTA is a world leader in the development and manufacturing of electrospun medical products. Utilizing its proprietary, fully automated MediSpin™ production platform, VIVOLTA supports its clients in realizing electrospun medical solutions that guide the body to heal itself. These medical products restore and cure damaged and diseased tissues, with the aim of improving patients’ lives while minimizing complications. VIVOLTA’s solutions are applicable to a broad array of high-value therapeutic areas with unmet clinical need, such as cardiovascular implants, soft tissue repair, orthopaedic sports medicine, and drug delivery.
The Company, formerly IME Medical Electrospinning, is a pioneer and global leader in the electrospinning sector, having contributed significantly to the first ASTM (American Society for Testing and Materials) standard for fiber-based medical scaffolds (F3519-21), published in 2021.
VIVOLTA’s shareholders include TIIN Capital, Lumana Invest, Borski Fund, and Brabantse Ontwikkelings Maatschappij.
For more information about VIVOLTA, visit www.vivolta.com.
About NXTGEN HIGHTECH
The goal of NXTGEN HIGHTECH is to elevate the Netherlands’ standing as a major player in high tech industries and to contribute to solutions for major societal challenges. To achieve this, this program will invest as much as € 1 billion until 2030 with over 330 partners, in more than 60 projects and in six essential domains. In doing so, NXTGEN HIGHTECH will make a significant contribution to the structural and sustainable economic growth in the Netherlands and offer solutions for the major societal challenges in the areas of energy transition, health, safety and food.
For more information, visit www.nxtgenhightech.nl.