A Chapel Hill-based biotechnology company has raised $700,000 in a private equity stock offering, according to a filing with the Securities and Exchange Commission filing.

Falcon Therapeutics Inc. raised the money from two investors.

The company is focused on developing a treatment of brain cancer with autologous neural stems cells that seek out and destroy cancer cells. It has filed two patents.

It was founded by Shawn Hingtgen, a professor in the Division of Molecular Pharmaceutics at the UNC-Chapel Hill Eshelman School of Pharmacy.

  • VIDEO: Watch an overview about Falcon Therapeutics at https://www.youtube.com/watch?v=wdUsmHyjSMg

The CEO is Karen Giroux, who has over 26 years of experience in intellectual property management, innovative technology assessment and licensing, seed stage venture fund management, early stage biotech company management as chief operating officer and CEO, and early stage biotech and biomaterials company partnering with larger corporations.

Companies relying on a Reg D 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