Three Triangle area companies have raised money according to recent regulatory filings. They are two biotechnology companies and a Raleigh-based firm that makes a photo enhancement and sharing app. Two are debt financings and one is an equity raise.
Durham-based Edison Agrosciences Inc., a company developing sunflowers as a natural rubber crop, has raised $830,000 in an equity round according to a filing with the U.S. Securities and Exchange Commission. See the filing here: (http://www.sec.gov/Archives/edgar/data/1650232/000165023215000001/xslFormDX01/primary_doc.xml).
The company writes on its web site that the natural rubber market is valued at over $42 billion annually. Natural rubber has characteristics unduplicated by synthetics. A recent industry report says production, primarily from Southeast Asia, will lag supply by 25 percent in four years.
Edison says its technology addresses the problems caused by getting natural rubber from only one crop (Hevea brasiliensis, or the Brazilian Rubber tree) which is subject to disease and long periods needed for the trees to reach maturity. For more, see: http://www.edisonagrosciences.com/market.php
Entegrion nabs $526,000 of $3M debt offering
Entegrion, also based in Durham, is developing a temporary blood substitute called
Resusix. In addition to the current debt offering of $3 million, of which it has sold $526,000 so far, according to an SEC filing, it raised more than $2.1 million in previous debt offerings and
$257,228 in equity (in 2009).
It also received a $1.9 million grant from the U.S. Office of Naval Research in July 2012, and a $43.7 million contract from the Department of Defense in 2011.
Resusix is a freeze-dried human plasma alternative that is stable at shelf temperatures, while ordinary plasma must be kept frozen and has to be thawed prior to use. The company focuses on products addressing other blood issues as well.
Its first product was the Stasilon bandage that has a proprietary weave that promotes clotting which is marketed through Chicago-based Beeken BioMedical. Entegrion also developed a blood product called Stasix, a freeze-dried product made from blood platelets.
Entegrion spunout from the University of North Carolina at Chapel Hill in 2002 as Hemocellular
Therapeutics. Most of its equity investments have come from individuals, primarily doctors.
For more see: http://www.entegrion.com/about-us/
Here’s the Entegrion SEC filing: http://www.sec.gov/Archives/edgar/data/1392253/000139225315000001/xslFormDX01/primary_doc.xml
Photofy snags $370K of $500K debt offering
Raleigh-based Photofy, which was incubated in the American Underground at Raleigh and has raised more than $1.3 million in equity, has sold $370,000 of a debt offering, according to an SEC filing.
Founded in 2013 by Jesse Flores and Jon Lanasa, the company makes an app that lets users enhance their photos with thousands of professionally designed graphics, stickers, typography and frames and easily share them.
Design categories range from birthdays and advocacy for causes to inspirational quotations that can be overlaid on photos intended for Facebook and Twitter. It offers phrases in multiple languages, including Spanish and Chinese.
The app is free. Users can buy premium features for 99 cents to $2.99.
The company’s equity investors include James Goodmon Jr., son of Capitol Broadcasting Co. owner Jim Goodmon, Capitol Broadcasting and LaNasa himself. LaNasa and Goodmon are golfing buddies, according to the Raleigh News and Observer.
Read more here: http://www.newsobserver.com/news/technology/article18576791.html#storylink=cpy
For more, see: www.photofy.com.
Here’s the SEC filing: http://www.sec.gov/Archives/edgar/data/1593675/000159367515000001/xslFormDX01/primary_doc.xml
