Vestagen Technical Textiles, Inc., an Orlando, FL-based company that develops and markets advanced performance textile products and technologies, completed an $8.25m financing.
The round was led by new investor Advent Life Sciences, with participation from Alliance Healthcare Investment Fund and founding investor V-Ten Capital and other private investors. In conjunction with the financing, Dale Pfost, PhD, a general partner at Advent Life Sciences, is joining Vestagen’s Board of Directors as executive chairman, and Joe Mayernik of Alliance Healthcare Investment Fund is joining as a director.
The company intends to use the funds to accelerate the commercial launch of medical scrub uniforms and other protective apparel made from its proprietary Vestex fabrics.
Led by Uncas “Ben” B. Favret III, president and CEO, Vestagen markets Vestex, a new class of active barrier protective fabrics combining antimicrobial, liquid repellent and breathability properties. Its uniforms and scrubs are designed to protect healthcare workers and their patients from dangerous contaminants.