Micro-device manufacturer Microfabrica Inc. received $22.5 million in financing that will be used to expand development of medical devices and the growing electronics and defense businesses. Venture capital firms Versant Ventures and Interwest Partners co-led the financing round for the Van Nuys-based company. Microfabrica devised a manufacturing process that makes intricately designed devices expanders, micro-needles that deliver drugs just below the skin, 1mm-diameter turbines, micro-chainmail, and miniature ratchets, hinges and springs in one piece, eliminating assembly of individual pieces. The company’s devices are the next wave in medical technology that was previously impossible or impractical to design and manufacture, said Kevin Wasserstein, Managing Director at Versant Ventures. “We believe that Microfabrica can revolutionize device development, and enable a wide variety of solutions to address unmet clinical needs,” said Michael Sweeney, General Partner at Interwest Partners.
