Local Tech Wire

RALEIGH, N.C. – Venture-backed is “vigorously contesting” to survive and says it has recalled some previously furloughed workers to fill orders.

In a brief statement Friday afternoon, Sicel said that a judge had delayed a hearing about a petition seeking to force Sicel into involuntary bankruptcy known as Chapter 7.

Sicel added that “operations are continuing” and “several employees who had been previously furloughed have returned to work to fill customer orders.”

The News & Observer and the Triangle Business Journal reported on Aug. 10 that five employees are pressing the company for compensation.

Sicel launched a $20 million fund-raising round a year ago, an SEC filing showing the firm had raised more than $1.5 million.

However, the company has been unable to complete the round and laid off staff, a company executive told The News & Observer on Monday.

How many people were laid off was not disclosed. It did have 34 employees before the cuts were made, Glenn Seymour, the firm’s national sales manager, told the paper.

Sicel has been without a chief executive officer since December.
The company is a developer of implantable radiation sensors designed to help improve cancer treatment.

Charles Scarantino, MD, an oncologist at Rex Hospital, founded the company. Its technology is licensed from North Carolina State University.

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