GREENSBORO — A Greensboro-based company specializing in cytology has raised $450,000 in a private equity offering, according to a filing with the Securities and Exchange Commission.

CellSolutions LLC raised the money from three investors, according to the filing.

CellSolutions logo

The company develops liquid-based preparation and evaluation systems for cytology applications. Pending U.S. Food and Drug Administration approval, its primary area of focus will be women’s health, including cervical cancer screening, pre-cancer detection and evaluation of infectious disease.

Currently, its products are suitable for a broad range of non-gynecological applications, including urine and fine needle aspirations.

Ernest Knesel is the company’s president and CEO.

Knesel was a founder and officer in charge of operations for Biomedical Reference Laboratories Inc., which started in 1969 and went public in 1979. Biomedical Reference Laboratories was at this time the most successful of the publicly traded clinical laboratories.  Knesel served as senior vice president of this business and its successor company Roche Biomedical Laboratories Inc. through 1995.

Knesel was also founder and first president of AutoCyte Inc., which was established with venture capital backing in 1996 and taken public in 1997.

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