GEORGETOWN, Texas, Sept. 5, 2012 /PRNewswire/ -- DiFUSION Technologies, Inc. announced today that it has secured $9.3 million in private and public financing: $4.2 million in convertible debt and $5 million in equity financing all from private non institutional investors. In addition to the corporate financing, the company has announced a grant from the City of Georgetown Economic Development Corporation for $92,000 for the purchase of highly specialized lab equipment. In return DiFUSION has signed a performance agreement to create 10 jobs over three years.
Founded in 2008, DiFUSION Technologies is an advanced biomaterials manufacturer located in Georgetown, Texas. DiFUSION has developed multiple patented MITA Technologies (Metallic Ion Therapeutic Agents) for antimicrobial, cellular repair, tissue regeneration, bone growth, scaffold construction, and increased angiogenesis. DiFUSION's first product, CleanFuze™*, was developed as an antimicrobial load-bearing biomaterial for orthopaedic applications and has proven highly successful in animal testing. CleanFuze™ is currently being scaled up for regulatory approval and commercialization. DiFUSION is dedicated to leveraging these breakthroughs across multiple healthcare channels.
Just three short months after DiFUSION's incorporation in July 2008, the U.S. and worldwide economies collapsed, causing venture capital opportunities to evaporate overnight and a host of potential innovations to be put on hold. Knowing their new, antimicrobial technology for orthopedic implants posed a solution to one of the most common and expensive problems in the medical arena (SSIs), DiFUSION decided to "bootstrap" their finances, moving forward with research and development - but not without sacrifice. While $4.2 million was raised through private investors (industry colleagues) over a four year period in order to hit the necessary "A round" milestones on the path
|SOURCE DiFUSION Technologies, Inc.|
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