RESEARCH TRIANGLE PARK — Biotechnology company Deep Blue Medical Advances has raised $517,000, according to a Wednesday filing with the Securities and Exchange Commission.
The company intends to raise another $283,000 to meet its goal of $800,000.
The money was raised in debt, option, warrant or other right to acquire another security and security to be acquired upon exercise of option, warrant or other right to acquire security.
According to the filing, the money money came from 18 investors.
Deep Blue Medical Advances is a startup company founded by Duke University plastic surgeon Dr. Howard Levinson.
The company has been advancing a T-line mesh, primarily used for hernia surgery.
The company is also working on a structure anchoring device to overcome large suture knots associate with wide sutures.
The RTP-based company was founded in 2014, as an incubator for developing various medical device inventions emanating from Duke University.
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.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
