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Biovation wins $474,000 Development Award

Boothbay -

BOOTHBAY – Biovation LLC, a manufacturer of non-woven fiber products for food packaging and wound care, announces that it was one of six companies to receive Development Award funds from the Maine Technology Institute. The company will use its $474,000 in funds for laboratory facilities to further develop and commercialize its wound care products that will enable it to penetrate a large market with high margin potential for its value-added products. The Maine Technology Institute (MTI) is an industry-led, publicly funded, nonprofit corporation that offers early-stage capital and commercialization assistance in the form of competitive grants, loans and equity investment for the research, development and application of technologies that create new products, processes and services, generating high-quality jobs across Maine.

For more information, call 633 0616 or visit http://www.biovation.com.

For More Information:

Contact Name: Kerem Durdag, CEO

Telephone Number: (207)633-0616

Website: http://www.biovation.com

Email: kdurdag@biovation.com