Novan Therapeutics, a spinout from UNC-Chapel Hill that is based in Durham, continues to raise a lot of capital.
The emerging company has raised $5.1 million in new equity funding, it disclosed in an SEC filing on Thursday.
Novan also said it could raise as much as $11 million in the new round.
Just last October, Novan raised $6 million.
Investors include Cree co-founder Neal Hunter, Cree executive John Palmour and former life science executive Robert Ingram.
Novan is focused on products to counter drug-resistant infections.
Dr. Mark Schoenfish of UNC-CH is a co-founder.
Novan also raised $4 million in January 2011.
Read the SEC filing here.