Vitrafy Secures $4.8 Million Grant for Cryopreservation Technology Expansion

Vitrafy Life Sciences Ltd. ( (AU:VFY) ) has shared an announcement.

Vitrafy Life Sciences Limited has been awarded a $4.8 million Industry Growth Program Grant to accelerate the global commercialization of its cryopreservation technology. The grant will support the development of Vitrafy’s second-generation smart freezing device for the US market and the translation of its research in blood and blood products to commercial outcomes. This funding is a significant endorsement of Vitrafy’s technology, which has shown to substantially increase cell survival and functionality, addressing critical demands in military and civil settings. The project is expected to complete by December 2026, with quarterly progress reports.

More about Vitrafy Life Sciences Ltd.

Vitrafy Life Sciences Limited is a company specializing in cryopreservation technology, offering a proprietary range of smart cryopreservation hardware and a cloud-based software platform called Lifechain™. This integrated system ensures the preservation of biomaterial quality, helping industries maintain the integrity of sensitive biological samples. Headquartered in Melbourne, Australia, Vitrafy is listed on the Australian Securities Exchange and operates an ISO13485 accredited manufacturing facility and laboratory in Ballarat, Victoria.

YTD Price Performance: -17.35%

Average Trading Volume: 26,586

Find detailed analytics on VFY stock on TipRanks’ Stock Analysis page.