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Chapel Hill-based cardiac simulation company raises $300,000
By Chris Roush
CHAPEL HILL — A Chapel Hill-based company that has developed a cardiac simulation system has raised more than $300,000 in a private equity offering, according to a Securities and Exchange Commission filing.
KindHeart Inc. raised $305,696 from 10 investors, according to the filing. It is seeking to raise another $944,000.
The company was founded in 2011 based on technology developed for a complete cardiac surgery simulation system that makes a real pig heart behave just like a human heart during open-heart surgery.
Dr. Paul Ramphal built the simulator to provide his students clinical-level instruction at University of the West Indies to compensate for low patient flow.
KindHeart co-founder, Dr. Richard Feins, professor of surgery at UNC-Chapel Hill and then chairman of the American Board of Thoracic Surgery, collaborated with Ramphal to develop the first simulators for academic institutions.
KindHeart’s simulators were made in limited quantities in late 2015 and fully commercialized in 2016.
Private companies such as KindHeart relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file a Form D electronically with the SEC after they sell its securities.
RTP-based sensor company raises $200,000 in debt offering
By Chris Roush
RESEARCH TRIANGLE PARK, N.C. — A company based in the Research Triangle Park developing sensors for critical medical procedures has raised $200,000 in a private debt offering, according to a filing with the Securities and Exchange Commission.
Clinical Sensors Inc. raised the money from one investor. It is seeking to raise another $200,000, according to the filing.
The company is developing sensors that hold the potential to identify and monitor patients at risk of developing life-threatening conditions at an early stage. Its first products are aimed at hospital-acquired infections and diabetes.
In April, the company was awarded two small business research grants from the National Institutes of Health that provide over $1.5 million to support its continued development and demonstration of its point-of-care device that measures a patient’s blood nitric oxide level within a few seconds.
Dr. Philippe Chemla is the chief executive officer of the company.
Prior to joining Clinical Sensors, Chemla served as vice president of business development at Metabolon where he established strategic partnerships with industry segment leaders. Cemla also held leadership positions at Fujifilm Diosynth Biotechnology, Ciba, Novartis and Syngenta.
The company was founded by UNC-Chapel Hill chemistry professor Mark Schoenfisch, who serves as its president. He is an expert in electrochemical sensors, nitric oxide, and bio-functional membranes.
Private companies such as Clinical Sensors relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file a Form D electronically with the SEC after they sell its securities.
RTP-based biotech company has raised $1 million
By Chris Roush
RESEARCH TRIANGLE PARK, N.C. — A Research Triangle Park-based biotech company specializing in finding drugs to fight antibiotics has raised $1 million in a private equity offering, according to a filing Thursday with the Securities and Exchange Commission.
Arrevus Inc. raised the money from one investor, according to the filing. It is seeking to raise another $500,000.
Proceeds will be used for working capital, which may include compensation for its executive officers.
Arrevus is focusing its drug development efforts on those diseases for which antibiotic resistance has important clinical implications and for which few therapies exist. These efforts are dedicated to the development of designer proline-rich antimicrobial peptide chaperone protein inhibitors.
Carl Kraus is the founder and chief executive officer of the company. Kraus has held scientific and management roles in the pharmaceutical industry, including i3Research, a subsidiary of UnitedHealth Group, where he served as senior director of infectious diseases.
He also worked at PRA International, where he was the global scientific head for infectious diseases.
He most recently served for three years as the chief medical officer for Nanotherapeutics, a biodefense-oriented biotechnology company, where he was responsible for oversight and management of the scientific and regulatory affairs, pharmacovigilance, and clinical operations groups.
Private companies such as Arrevus relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file a Form D electronically with the SEC after they sell its securities.
These stories are from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism.