Raleigh-based startup Respirics trying to raise $1.5 million

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Local Tech Wire

RALEIGH, N.C. – , a startup focused on dry-power inhaler and drug delivery technology, is seeking to raise $1.5 million in new financing, according to a with the Securities and Exchange Commission.

The company has raised $375,000 so far..

Respirics also has made changes in its management. The filing notes that board Chairman James Butler is the chief executive.

Gilbert Mott, the former CEO, is listed as a director.

According to the Triangle Business Journal, Respiric officials confirmed to the newspaper that Mott had left the company.

In 2007, Respirics raised $2.5 million from several angel investors, Research Triangle Ventures and Catalysta Partners.