MORRISVILLE — A Morrisville, North Carolina-based company, Myocardial Solutions Inc., has raised $6.8 million in a private stock offering to 24 investors, according to a Securities and Exchange Commission filing.

In the final days of December 2018, the company reported $6.6 million in shares sold to 22 investors. According to the Form D filed on Jan. 24, the company has since raised $190,000 from two more investors.

The company did not disclose what it intends to do with the proceeds, but did state that “other than the payment of salaries and other compensation and benefits, no officer, director, or promoter will receive any payments from the proceeds of this offering.”

22 investors pour more than $6M into heart health startup Myocardial (+ video)

The company specializes in detecting cardiac dysfunction through their invention of MyoStrain, a 10-minute exam and MRI software that delivers a diagnostic report on heart function.

MyoStrain was developed by founder and Chief Technology Officer Nael Osman. He founded Myocardial Solutions after developing MyoStrain’s technology as a professor at Johns Hopkins University.

In the form, Myocardial Solutions claimed a Rule 506(b) (“safe harbor”) exemption that allows the company to raise an unlimited amount of money. So far, it has raised $6.8 million of its current $7 million goal.

This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism