RALEIGH — Valanbio Therapeutics, an early-stage anti-infectives company, has raised $421,000 in debt, according to a recent SEC filing.
Five investors contributed to the round, with a minimum investment of $7,000 accepted from any outside investor.
The round is capped at $600,000 with $179,000 remaining to be sold.
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, the filing indicated.
The firm’s CEO, Clayton Duncan, signed the document.
Valanbio Therapeutics is located in Raleigh and is developing novel antibiotics for Gram-negative organisms.