US-based advanced textiles developer Vestagen Protective Technologies has reached the first close of a $10m round featuring Northwell Ventures, the corporate venturing arm of healthcare network Northwell Health.
Existing investors Advent Life Sciences and HealthQuest Capital also contributed to the round.
The company disclosed the $10m figure in a press release that did not reveal how much it had raised so far, though a securities filing last week indicated it had secured $16m in financing.
Vestagen is the creator of a class of advanced protective fabrics with antimicrobial, liquid-repellent and breathability properties that it markets under the name of Vestex. Uniforms made from Vestex are designed to reduce risks associated with exposure to hazardous fluids.
The round followed approximately $27m in debt and equity financing, according to press reports, releases and securities filings. Vestagen’s earlier investors include Advent Life Sciences, Alliance Healthcare Investment Fund, V-Ten Capital and Clearwell Group.
– Image courtesy of Vestagen Protective Technologies, Inc.