Entegrion, a Research Triangle-based life sciences company developing advanced blood products, has increased the size of its debt offering open since 2015 and nabbed most of it, according to a regulatory filling.
The company has raised $5.56 million of a $6 million debt offering from 73 investors, according to a filing with the Securities and Exchange Commission.
EntegrionEntegrion has raised $88 million from the U.S. Department of Defense to develop blood products such as freeze-dried platelets for emergency treatment of wounded soldiers and dehydrated plasma.
The platelets product, called Stasix was slated for human testing this year. Platelets are the blood component that enables clotting. Fresh platelets only last about a week, while Entegrion’s Stasix could be stored up to three years, according to the company.
The company received a $44.7 million four-year grant from the DOD to work on the dehydrated blood product, Resusix, in 2011.In 2013 it inked a deal with Kedrion Melville Inc.as a strategic investor to commercialize Resusix.
The NC Biotechnology Center awarded Entegrion a $150,000 Small Business Research Loan in 2003, and the RTP company later attracted about $100 million in venture capital, collaborations, debt financing and contracts from various units in the U.S. Department of Defense.
Under development for 12 years, Stasix is not expected to be approved for use until 2020.
Entegrion spun out of the University of North Carolina at Chapel Hill in 2002 as Hemocellular Therapeutics, a company that initially focused on developing Stasix.
The company, which later changed its name to Entegrion, shifted its attention for a time to a bandage that promotes clotting because that product could be commercialized more quickly.
The Stasilon bandage, made from a proprietary weave of bamboo and glass fibers, received Food and Drug Administration clearance in 2007. In April of 2011, Entegrion announced a licensing deal with Chicago company Beeken BioMedical, to market the bandage;