US-based Vestagen Technical Textiles has raised US $ 7 million to back its antibacterial hospital garments. The funding was led by Advent Life Sciences and HealthQuest Capital with participation from existing, Vestagen investors. This will allow the firm to get to market with its Vestex antibacterial textile, which it said can reduce harmful contaminants on garments, thereby reducing the spread of pathogens.
Bill Bold, CEO of the company said, “Healthcare uniforms have been linked to the potential spread of dangerous pathogens. Vestagen is addressing the unmet need for better worker and patient safety with its game-changing Vestex products and technologies, which transform everyday healthcare apparel into a protective medical device,” adding, “Vestagen’s commitment to evidence-based marketing and regulatory review distinguishes its strategy and provides us with a key competitive advantage.”
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The investment is expected to prove beneficial as the technical textiles market is expanding like never before. For instance, technical textiles including nonwovens make up around 25 per cent of the global fibre consumption and also have demand in medical devices, responsive fibrous system, etc., thus driving growth in the market and further pushing firm to invest in the same.
Recently only, Future Market Insights, a premier provider of syndicated research reports, has reported that the overall technical textiles market is expected to grow at a rate of 4.5 per cent CAGR during the period 2015-2020.
