Updated Apr. 6, 2017 at 7:32 a.m.

Durham-based Micell Technologies raises another $6 million

Published: 2017-04-05 12:09:00
Updated: 2017-04-06 07:32:11

Micell Technologies, a Durham based medical technology company, raised an additional $6 million in a private stock offering, according to a Securities and Exchange Commission filing.

The funding comes after two recent positive updates for the company.

  • In November, Micell announced the first patient enrollment for its stent technology in Japan.
  • In October, Micell reported "positive five-year clinical data" for its Mistent technology.

The company filed the Form D on April 4. In November 2016, Micell also raised $25.7 million in a private stock offering. It did not disclose what it intended to do with the proceeds.

Micell is owned and operated by Arthur Benvenuto and Daniel Estay. Micell Technologies is a medical device company that has been creating products to enhance drug delivery since 2006.

Their product, MiStent, is a CE-marked drug eluting stent that is available in multiple countries across Europe.

MiStent is currently used in the interventional cardiology market, but has the ability to be adaptable to a broad range of drugs and therapeutic agents.

Companies relying on a Reg D 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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