BiopCryst, TransEnterix and Custom Synthetic Fibers headline the latest funding news for Triangle tech and life science companies.

BioCryst lands $23M credit facility

IN RTP, BioCryst announced early Monday that it had raised $23 million in a new credit facility, thus giving the company what it says is a “cash runway” through “early.2018.”

MidCap Financial provided the funding.

Biocryst is developing a number of drugs targeting rare diseases, but it’s best known for an influenza product (RAPIVAB), proceeds from which BioCyrst will be used to repay the credit line.

“The proceeds from this facility extend our cash runway into the first quarter of 2018 and provide non-dilutive capital to fund our rare disease development programs,” said CEO Jon Stonehouse. “We expect the facility to be repaid from RAPIVAB-related approval milestones associated with our Seqirus licensing agreement and revenue from the replenishment of the U.S. Government national stockpiling of RAPIVAB.”

  • TransEnterix raises $215,000

Morrisville-based ropbitc surgery company TransEnterix has filed to raise $215,000 from investors in a private stock offering, according to a filing with the Securities and Exchange Commission.

TransEnterix Inc. filed a Form D with the SEC on Sept. 23 and noted it’s issued these shares of common stock to satisfy an “outstanding balance for legal services.”

The filing listed a total offering amount of $214,155, with $98,465 remaining to be sold as of Sept. 23.

President and Chief Executive Officer Todd Pope signed the Form D. Before joining TransEnterix, he held leadership positions at Johnson & Johnson and Boston Scientific.

TransEnterix is a medical device company that uses robotics to improve minimally invasive surgery by addressing clinical and economic challenges associated with current laparoscopic and robotic options, according to the company’s website.

The Morrisville-based business is focused on the commercialization of the “ALF-X,” a multi-port robotic system that brings robotic surgery to patients, while also enabling surgeons with technology such as haptic feedback and eye tracking camera control.

  • Custom Synthetic Fibers raises $2.85M

Custom Synthetic Fibers, a Charlotte-based recycling company has sold $2.85 million worth of equity, according to a Securities and Exchange Commission filing.

Custom Synthetic Fibers filed a Form D on Sept. 21 stating it has reached its total offering target. It did not disclose what it intends to do with the money.

Custom Synthetic Fibers LLC recently opened a recycled polyester fiber facility in Rogersville, Alabama, that received an estimated $6 million in funding from a group of investors.

The company is owned by a group of investors, including the majority owners of Custom Polymers Inc., a global recycler and re-processor of post-industrial and post-consumer plastic scrap.
John N. Calhoun II is a partner of the Charlotte, N.C.-based Custom Polymers.

Note: North Carolina Business news Wire contributed to this report.