23 June 2009 - Vivacta has closed a USD4.5m (GBP2.8m) financing round to commercialise piezofilm technology.
The funding round, which was fully subscribed to by existing investors, followed the successful development of its TSH (thyroid function) test, together with prototype commercial readers.
Neil Butler, chief executive officer of Vivacta, said: 'The clinical evaluation of the system has now commenced and we anticipate achieving regulatory clearance within 12 months.
'The cartridge pilot manufacturing facility has commenced weekly manufacturing campaigns for internal evaluation.
'Validation of the facility and product is planned for later this year.' Vivacta recently presented its technology at the Oak Ridge Conference.
