DURHAM – KNOW Bio, a spinoff from drug firm Novan, is on the prowl for five senior executives after landing $30 million in investment capital from Reedy Creek Investments, the investment arm of SAS cofounder and CEO Jim Goodnight.

KNOW Bio

“KNOW Bio is expanding its team in selected high impact areas by initiating searches for a Vice President of Drug Development, Chief Medical Officer, Clinical Operations Specialist, B2C Sales Director for Medical Devices and a Controller for the combined group,” the company said in the funding announcement earlier this week.

KNOW was created in 2015 as a spinoff from Novan which included that firm’s non-dermatological assets. Reedy Creek also is a backer of Novan.

In 2017, KNOW raised $2.6 million from 49 investors. It added another $4.68 million in 2018.

Led by chair and CEO Neal Hunter, who once led Durham-based tech firm Cree, KNOW Bio is a conglomerate of various ventures.

“The ability to partner with Reedy Creek is a real benefit for our company and prospective patients,” Hunter said in a statement.

“With this investment, our team will push forward advancement of our research in nitric oxide-enabled technologies at a more rapid pace as we have a duty to get this promising technology into patients of need.  Our objective is to completely disrupt the paradigm of treating infections, especially antibiotic-resistant bacteria. We believe our technology can solve a major problem at a time when that problem is creating a dire situation for public health.  This investment will allow us to take multiple drug candidates forward in parallel and complete studies at a faster pace bringing a solution to those in need much more quickly.  We look forward to the great things ahead for our Company, investors and most importantly, those prospective patients.”