IME Medical Electrospinning announced that it completed financing of €3 million.

IME Medical Electrospinning, an Eindhovem (Waalre), The Netherlands-based medical technology company, announced that it completed funding totalling €3 million ($3.6M).

The money is yje form of equity and debt financing, and was provided by investos including existing shareholder TIIN Capital, new investors Borski Fund and Lumana Invest, and Rabobank Region Eindhoven.

Funds will be used to further strengthen its MediSpin XL electropinning platform and industrial production capabilities for medical devices and drug delivery applications.

IME Medical Electrospinning, founded in 2008 and co-led by Ramon Solberg and Judith Heikoop, developed superior electrospinning technologies which enable the production of medical implants with a nanostructure representing the human extracellular matrix in a reproducible and scalable manner. The resulted implants have proven to repair, replace and restore tissues and organ structures in the human body. The company's products are either on the market or in clinical development.