Durham-based GeneCentric Diagnostics raises $6.1 million
Durham, N.C. — GeneCentric Diagnostics Inc. filed Thursday to raise over $8.6 million in equity, according to a filing with the Securities and Exchange Commission.
The company has already raised more than $6.1 million through four investors with almost $2.5 million total remaining to be sold.
The biotechnology health care company filed a Form D signed by Myla Lai-Goldman, David Hayes, Clay Thorp, Charles Perou and Arnold Levine on Jan 5.
GeneCentric Diagnostics is a cancer drug development company and focuses on accurate diagnosis and treatment of cancer patients through its cancer subtype platform (CSP) technology. The company website claims that its CSP drives oncology diagnostics through its drug pipeline that focuses on lung cancer and head and deck cancer.
The total offering amount is $8,605,992 with $6,105,996 sold.
This was a new notice in all equity with the first date of sale on Dec. 22, 2016. This offering is not intended to last more than one year.
The offering is not being made in connection with a business combination transaction, none of the money will go toward executive salary, and there is no minimum investment accepted from any outside investor.
GeneCentric Diagnostics claimed a Rule 506 (b) exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
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