Tethis Inc., a Raleigh-based company that makes biochemicals, has sold nearly all of a debt and options offering, according to a regulatory filing.

The company has developed a way to take simple carbohydrates such as cornstarch and create high value biochemical products, its web site explains.

Tethis says it “has a patented platform for the creation of these high value chemicals using a common manufacturing process that is high throughput, low cost, and prevalent domestically and abroad. By using this manufacturing process, Tethis is able to scale up using toll manufacturing partners, reducing capital burden and increasing the speed to market.”

Tethis is led by CEO Scott Bolin, who, with scientists Ryan Chan and Moataz Mousa, co-founded the startup in September 2012. It closed a Series A round for $800,000 to commercialize a new material with the ability to chemically remove slae and minerals from naturally occurring and industrial brines in January 2013.

The material, Tethex, is a biodegradable foam licensed from North Carolina State University that binds with dissolved salts, minerals, and other materials, allowing them to be physically removed from waste water.

According to a news release issues about the funding, “The treatment, and disposal of saltwater and brine is a global challenge costing industry and governments billions of dollars annually.”

Tethis raised $262,677 of a $272,536 offering. The company disclosed the funding in this filing with the U.S. Securities and Exchange Commission: http://www.formds.com/issuers/tethis-inc

On the web: www.tethis.com