PolyNovo (ASX:PNV) shares increment by nearly 2.7% to A$1.34, marking their highest value since Sept.

As stated by the medical devices company, it has secured an additional $10 million from the Biomedical Advanced Research and Development Authority (BARDA).

This additional funding aids the company’s impactful trial program of NovoSorb BTM, made for the treatment of full-thickness burns.

PolyNovo (ASX:PNV) announced that this additional funding brings the total BARDA commitment up to $25 million.

Despite this, the stocks of the company have gone down 35.4% YTD, noted at the most recent closing.

PolyNovo is a medical device company that focuses on the design, development and manufacture of innovative medical devices using its patented NovoSorb biodegradable polymer technology.