DURHAM — Durham-based biotechnology company KNOW Bio LLC has raised another $4.6 million in an equity offering, according to a filing with the Securities and Exchange Commission.
KNOW Bio was created in late 2015 by separating all of the non- dermatological assets from Novan Inc.
In the company’s Form D, it declined to disclose the issuer size of the offering but did state that there are 49 investors and no minimum investment.
The proceeds will be used for salaries and other compensation and benefits. KNOW Bio clarified that no officers, directors or promoters will receive payment from the offering.
The company had previously raised $2.6 million in May 2017.
KNOW Bio has a subsidiary called Novoclem that is a pre-clinical stage pharmaceutical company for patients with respiratory diseases. It uses a nitric oxide technology which was developed with Dr. Mark Schoenfisch’s lab at UNC-Chapel Hill.
Novoclem
The company’s chief executive officer Anne Whitaker joined Novoclem last January, after 25 years in the biotechnology and pharmaceutical industries.
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 UNC-Chapel Hill’s School of Media and Journalism
