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Vestagen Completes $8.25 Million Financing To Launch Its Vestex(R) Protective Healthcare Uniforms And Medical Scrubs



Vestagen Completes $8.25 Million Financing To Launch Its Vestex(R) Protective
                    Healthcare Uniforms And Medical Scrubs

—Clinically-Proven Approach Integrates Three Technologies to Transform Scrub
Uniforms into Medical Devices Providing Active Barrier Protection from
Dangerous Contaminants—

—Advent Life Sciences Led the Financing; Dale Pfost Joins as Executive
Chairman—

PR Newswire

ORLANDO, Fla., Aug. 27, 2013

ORLANDO, Fla., Aug. 27, 2013 /PRNewswire/ -- Vestagen Technical Textiles,
Inc., today announced completion of an $8.25 million financing.  Vestagen
markets Vestex^®, the first in a new class of medical devices based on active
barrier protective fabrics that are clinically proven to prevent or reduce the
acquisition and retention of contaminants on clothing.  Vestex garments are
engineered to have robust liquid repellency and antimicrobial properties,
along with breathability, comfort and durability.  The financing was led by
new investor Advent Life Sciences.  Alliance Healthcare Investment Fund also
participated in the financing, along with founding investor V-Ten Capital and
other private investors.  Vestagen intends to use the proceeds from the
financing to accelerate the commercial launch of medical scrub uniforms and
other protective apparel made from its proprietary Vestex fabrics.

Contaminated clothing has been shown in multiple studies to be an important
conduit of bacteria to healthcare workers, who have the highest rate of
illness of any occupation in the U.S.  More than a dozen peer-reviewed studies
document the contamination of clothing in healthcare facilities where there
are patients infected with resistant organisms such as MRSA and C. difficile. 
These difficult-to-treat organisms put healthcare workers at risk and are
responsible for many of the most serious hospital acquired infections.

In a clinical study published in the Journal of Infection Control and Hospital
Epidemiology, researchers reported a statistically  significant MRSA reduction
of more than 99.99% on the Vestex scrubs compared to standard uniforms.
 Importantly, this study illustrated that the healthcare workers wearing
Vestex had lower levels of microbes present on their garments than on their
hands, in contrast with the group wearing the standard scrubs, where the level
of contamination on the workers' hands and scrubs was equal.

"Healthcare workers know to wash their hands between patients, but they cannot
easily change their scrubs.  We developed Vestex in response to a major unmet
need for durable, comfortable, continuous-wear garments that would protect
healthcare workers from the potentially dangerous contaminants they encounter
on the job every day," said Uncas "Ben" B. Favret III, president and CEO of
Vestagen.

Mr. Favret continued, "Vestex is the first technology-based active barrier
fabric engineered to transform scrub uniforms into medical devices that
protect healthcare workers and those with whom they come in contact.  Our
proprietary fluid repellent, antimicrobial and moisture management
technologies work together to prevent the acquisition and retention of
microbes and other contaminants on healthcare workers' clothing, while
ensuring comfort.  The unique protective properties of Vestex scrub uniforms
are supported with peer-reviewed clinical data, and we are in the process of
filing for FDA clearance as a Class 2 medical device.  Initial acceptance by
healthcare workers and institutions has been excellent."

Vestex incorporates three distinct proprietary technologies – a durable fluid
barrier technology, an antimicrobial technology and a technology for enhanced
wearer comfort.  The fluid barrier technology  creates a special structured
surface that binds to individual fibers, resulting in a fabric that is highly
repellent to bodily fluids, water, oil, dirt and dust.  This high degree of
repellency is designed to work synergistically with Vestagen's antimicrobial
technology, which has been shown to be effective against a broad spectrum of
organisms in vitro and is based on a proprietary agent that has never been
associated with microbial adaptation or resistance in 25 years of use.
Vestex's third technology acts to wick away moisture from the inside of the
fabric, enabling evaporation and creating a cooling effect for wearers while
accelerating drying.

"Growing concerns about the human and system-wide costs of hospital acquired
infections give healthcare providers, payors, workers and regulators a shared
interest in finding solutions," said Dale Pfost, PhD, a general partner at
Advent Life Sciences.  "By improving healthcare worker safety, we believe that
we can also improve patient safety.  Vestex combines three innovative
technologies to transform healthcare uniforms from potential sources of
contamination into medical devices designed to protect workers and their
patients, in the form of everyday work garments that are comfortable, durable
and competitively priced." 

Dr. Pfost added, "There are additional applications for Vestex fabrics in
other industries where workers are routinely exposed to biological
contaminants, and we look forward to supporting the company as it works with
multiple partners and regulatory agencies to extend access to this unique set
of products."

In conjunction with the financing, Dr. Pfost is joining the Vestagen Board of
Directors as executive chairman, and Joe Mayernik of Alliance Healthcare
Investment Fund is joining as a director.  James P. Karides, CPA, of V-Ten
Capital Partners is continuing as a director.

For more information about Vestagen and Vestex, visit www.vestagen.com and
www.vestexprotects.com. 

About Vestagen
Vestagen Technical Textiles develops and markets advanced performance textile
products and technologies.  Vestagen has developed Vestex^®, the first in a
new class of technology-based, active barrier protective fabrics combining
antimicrobial, liquid repellent and breathability properties.  Vestex uniforms
and scrubs are designed to protect healthcare workers and their patients from
dangerous contaminants. They are clinically proven to prevent or reduce the
acquisition and retention of contaminants on clothing and are comfortable,
durable and affordable.  For more information, visit www.vestagen.com.

About Advent Life Sciences
Advent Life Sciences is the dedicated Life Sciences team at Advent Venture
Partners, one of Europe's best established growth and venture capital firms. 
Advent Life Sciences invests predominantly in early-stage and growth equity
life sciences companies in the UK, Europe and the US.  It will back companies
that have a first- or best-in-class approach in a range of sectors within the
life sciences sector, including new drug discovery, enabling technologies,
med-tech and diagnostics.  For more information, visit
www.adventventures.com.  

About Alliance Healthcare Partners Group
Alliance Healthcare Partners Group is focused on building and supporting
businesses that can create fundamental and lasting changes in healthcare; so
that providers, payers, and clinicians can improve the quality of care with
fewer resources.  The company's Investment Fund focuses on innovative
technology and service companies that help healthcare providers deliver
enhanced efficiency, improved outcomes and lower cost healthcare.  The Fund
team identifies innovative, high-growth companies that use new approaches and
technologies to disrupt the healthcare status quo.  For more information,
visit www.alliancehcpartners.com.

About V-Ten Capital Partners
V-Ten is a collaborative of experienced investors who provide investment
capital for seed, early and growth stage companies that require the invaluable
benefit of tried and true to-market strategies, business practices and
processes.  The V-Ten team has decades of combined experience in leading some
of the most diverse companies to the top of their markets.  V-Ten's philosophy
is to invest in breakthrough companies and to structure each investment
collaboratively with exceptional management teams to build superior long-term
value.  V-Ten was founded by Richard Sharp who was responsible for the success
of many iconic American businesses in the last 25 years, including: Circuit
City, CarMax, Flextronics International and Crocs.  For more information,
visit www.vtencp.com.

Contacts:
Vestagen                                     Media:
Ben Favret BLL Partners, LLC President & CEO Barbara Lindheim
ben.favret@vestagen.com                      +1 212 584-2276
                                             blindheim@bllbiopartners.com

SOURCE Vestagen Technical Textiles, Inc.

Website: http://www.vestagen.com
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