NeuroTronik Inc. raised more than $300,000 in debt and security to be acquired upon exercise of option, according to a Securities and Exchange Commission filing.

The form was filed on Oct. 27.

NeuroTronik raised the full amount of $327,482 from two investors.

NeuroTronik is classified as an other health care company and develops medical devices to treat acute heart failure. It was incorporated in 2012.

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North Carolina is home to over 600 biotech companies including 350 in research and development and 110 in production and manufacturing.

In 2013, NeuroTronik closed a $13.1 million Series A to develop a device that treats heart failure with neuromodulation. The company hopes to meet the need of 1.2 million patients with acute heart failure in the U.S. per year.

This filing was a new notice with the first day of sale being Oct. 17.

The offer is not being made in connection with a business combination transaction such as a merger or acquisition. None of the gross proceeds will be used as payment for executive officers or directors.

NeuroTronik claimed a Rule 506 (b) exemption. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism