ROCHESTER, Minn., Nov. 18, 2016 /PRNewswire/ -- Dynasil Corporation of America (NASDAQ: DYSL) today announced that it has made a commitment for a further $1.2 million investment in subsidiary Xcede Technologies, Inc. This investment comes alongside a commitment from Cook Biotech Inc. (CBI) of West Lafayette, Ind., to manage the Xcede Patch first-in-human clinical study on behalf of Xcede in exchange for secured loan considerations of up to $1.5 million. In addition, Peter Sulick, Dynasil Chairman and CEO, and members of his family made an additional investment of $450,000. It is anticipated this $3.15 million funding will be sufficient for Xcede to complete first-in-human clinical trials and related preclinical tests. The preclinical studies are anticipated to begin in 2016 and the trial in 2017. The Xcede Patch is intended to be used during surgical procedures to stop bleeding (hemostasis). Preclinical testing to date indicates this product promotes hemostasis within 60 seconds, a time that is faster than currently approved hemostatic patches, which take approximately three minutes to stop bleeding. Worldwide, the topical hemostatic market is estimated to be in excess of $1 billion in revenue. In addition, Xcede believes that the ease of use and potential price point for this product will be compelling reasons for practitioners to adopt the patch once it is approved for use as part of their regular surgical practices. Because the patch promotes hemostasis quickly, it is also under development for severe, traumatic bleeding as a follow-on indication for use.