Venture Investors of Madison, Wisconsin, with participation by Black Mountain Ventures of Foster City, California, led the investment. The company will use the funding to refine product development plans, begin product development and expand its business development plan for bringing the first tissue adhesive products on to the market.
Thomas Mozer, CEO and president of Nerites, said: “This funding will allow us to focus and accelerate development of applications for a handful of strategically chosen markets that represent tremendous investment opportunities and have a need for our breakthrough tissue adhesive technology.”