DURHAM — A pre-clinical stage pharmaceutical company based in Durham has raised $350,000 in a private equity offering, according to a filing Tuesday with the Securities and Exchange Commission.
Renovion Inc. raised the money from 12 investors, according to the filing.
The company last raised money in January 2017 when it raised $1.8 million.
The company is developing a therapy for chronic inflammatory airway diseases. Its goal is to be the first drug ever approved for patients who have received a bilateral lung transplant.
After success in these patients, Renovion wants to help patients in other areas such as cystic fibrosis, asthma and chronic obstructive pulmonary disease.
Renovion
Dan Copeland is the company’s chief executive officer. He was the founder and president of Emerge Life Sciences, a consulting company focused on new and emerging technologies in the life science space with significant work in translational medicine and devices over the last decade.
Prior to this, he focused on commercialization of respiratory products for asthma and chronic obstructive pulmonary disease with GlaxoSmithKline.
The company’s development efforts are based on basic research at UNC-Chapel Hill and further corporate investment in the asset since 2015.
The company is currently in the pre-clinical stage and is unique in that the product has shown antibacterial, mucus transport and anti-inflammatory impacts in patients. Renovion has completed a successful pre-IND meeting with the U.S. Food and Drug Administration.
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 ‘
