Herndon, Virginia-based Center for Innovative Technology (CIT)announced that its Virginia Founders Fund has invested an undisclosed amount in Roanoke’s Skyphos Technologies.
Skyphos is the developer of a 3D-printing process for microfluidics testing (the science of manipulating and controlling fluids) using Lab on a Chip devices to produce different medical outcomes and collect data for ailments. This process is supposed to help researchers decrease development time and costs when bringing new medical tests to market, a press release states. Skyphos said it plans on using this investment from CIT to further develop its second generation of 3D printers and to hire people who specialize in advanced manufacturing and computer programming.
“The ability to fast-track a potentially game changing idea into a prototype with limited delays is going to have a tremendous impact on both 3D printing and medical device industries, and we look forward to being part of Skyphos’ disruptive journey,” Jennifer O’Daniel, investment director at CIT GAP Funds, said in a statement.
READ FULL ARTICLE HERE