Medical device Lucerno Dynamics, a five-year-old startup with patented technology, aims to commercialize its first sensor with funding raised in an oversubscribed round of $6.3 million.
The fund raising had been reported earlier by WRAL TechWire. The formal announcement and plans for how to invest the funding were announced Tuesday.
IDEA Fund Partners in Durham is among the investors.
The funding total includes $1.14 million in convertible debt. The total surpassed Licerno’s goal by some $700,000, the company said.
“We are very pleased with the response to our fundraising campaign,” said Ron Lattanze, Lucerno’s chief executive officer, in the funding announcement.
“This completes our funding initiative. With this investment, we will be able to commercialize our first application of Lucerno sensor technology early next year and it sets us up to explore additional applications of the technology.”
Lucerno says its first’s “commercial application” offers quality control and quality assurance for nuclear medicine injections.
Lucerno also is a recipient of an NC IDEA grant and a research loan from the North Carolina Biotechnology Center.