HIGH POINT — A biotech company based in High Point has raised $700,000 in a private equity offering, according to a filing with the Securities and Exchange Commission.
Bien-Etre Labs LLC raised the money from one investor.
The filing did not disclose what the money would be used for.
Bien-Etre Labs, which was founded in 2018, focuses on novel platform technology for the production and manufacturing of bioactive agents in order to support healthy aging and longevity.
The company says it will offer probiotics supplements with no animal byproducts, free of any additives, chemicals or preservatives.
Currently, there are between 11 to 50 workers employed at Bien-Etre Labs.
The company has headquarters in High Point, with in-house research and development in the U.S. and Switzerland.
The company was founded by Adnan Mjalli, a internationally recognized expert in drug discovery and development in both the pharmaceutical and biotechnology industry. He has hundreds of patents in the business of drug discovery and development.
Mjalli serves as the executive chairman of Bien-Etre Labs.
Mjalli has been the CEO of High Point Clinical Trials Center LLC since 2014. He also has served as the executive chairman of MIG, a holding company based in the U.S. with global regional offices, since 2017.
Previously, he has worked as both the president and CEO of many companies such as TransTech Pharma Inc., which he founded in in 1999, High Point Pharmaceuticals LLC and vTv Therapeutics Inc.
The company president is Igor Martinovic.
Private companies such as Bien-Etre Labs relying on the Rule 506 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