The device, a non-invasive absolute intracranial pressure metre, is currently manufactured in Kaunas with the business side controlled by neuro-diagnostic company Vittamed with offices in Boston.
In October of last year, Vittamed secured $10 million in funding from the venture capital company Xeraya Capital Labuan and other investors. The funds are being used to finance product development in Europe, Australia and other countries.
Donata Mauricaitė, project manager at Versli Lietuva expressed confidence that the device could become a global hit.
“Bistras has personal experience with developing a company from a technological start-up to an internationally renowned company. Vittamed attracted $10 million worth of investment – the largest series A investment in the Baltic countries in the field of life sciences.”
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