Durham-based StrideBio and Franklinton-based Product Recovery Technology have closed on new capital, according to securities filings.

The details from Chris Roush of North Carolina Business News Wire:

  • Durham-based StrideBio raises $1 million

DURHAM – A Durham-based biotech company working on gene therapy has raised $1 million in a private debt and option offering, according to a filing Monday with the Securities and Exchange Commission.

StrideBio Inc. raised the money from three investors, according to the filing, with the smallest investment totaling $90,000.

StrideBio develops engineered viral vectors for gene therapy. StrideBio’s technology engine utilizes structure-inspired design to engineer AAV vectors that can escape pre-existing neutralizing antibodies.

In April, the company announced it had struck a deal with Crispr Therapeutics to develop in vivo gene delivery applications. As part of the deal, StrideBio will receive development funding, milestones and royalties on licensed vectors, and retain certain rights to use the novel AAV vectors for gene therapy applications.

The technology is based on the work of Dr. Aravind Asokan at UNC-Chapel Hill and Dr. Mavis Agbandje-McKenna at the University of Florida.

Asokan leads the Laboratory for Synthetic Virology & Gene Therapy at UNC-Chapel Hill. Originally trained as a chemist, he has blended the fields of protein engineering, virology and genetics to generate several gene therapy platforms currently being evaluated in preclinical and clinical studies.

He is the lead inventor on several AAV patents licensed to multiple gene therapy companies. Asokan is an associate professor in the departments of genetics and biochemistry & biophysics at UNC-CH.

The company has received capital from Hatteras Venture Partners, a venture capital firm based in Durham with a focus on seed and early stage healthcare investing.

  • Product Recovery Technology raises another $1.17 million

FRANKLINTON — Product Recovery Technology International Inc., which breaks down used rubber products, raised $1.17 million in a private equity offering last week, according to a Securities and Exchange Commission filing.

The Franklinton-based private company had raised $1.3 million back in March. In the latest offering, 21 investors bought a stake in the company.

“Other than the payment of salaries and other compensation and benefits, no officer, director or promoter will receive any payments from the proceeds of this offering,” said the company in the filing.

Jason Williams, chief executive officer of PRTI, founded Urgent Cares of America in 2001, where he served as president and CEO until 2010.

PRTI was founded in 2013 and has one facility in Franklinton. The company’s patented rubber depolymerization system fractionalizes rubber and tire waste into syngas, steel, oil and carbon products.

The company has partnered with Raleigh-based Causam Energy to use its EnergyNet software to sell its distributed energy back to the power grid through local utilities across North America.

Note: These reports are from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism