MORRISVILLE – XinVivo, a naotech firm focused on medical devices and 3D scanning technology based in Morrisville, has wrapped up a $25 million round of funding.
In an SEC filing, XinVivo says it closed more than $21 million recently to reach its goal. Initial funding was disclosed earlier this year.
According to the North Carolina Biotechnology Center, the firm develops a 3D intraoral imaging system that applies nanotechnology to detect cavities.
Co-founder Otto Zhou, a long-time professor an UNC-Chapel Hill, says the firm focuses on “low-dose 3D dental imaging with nanotechnology.”
David La Vance, a veteran in the medical device industry, is XinVivo’s CEO.
Some 101 people participated in the round with investors being solicited across 12 states, according to the filing.
All the funding is for equity in the company, which launched in 2015.
XinVivo said it does not expect the funding to last more than one year.
Listed as directors and executives on the filing are:
- Shan Bai, Director
- Richard Balot, Director
- Dan J. Clark, Director
- Thomas S. Gifford, Executive
- David R. La Vance, Director, Executive
- Otto Zhou, Director