KromaTID announced a first close of $50,000 via a fundraising effort initiated last month. 8% of the $600,000 non-brokered debt offering was placed with a single investor. The offering will remain open until an additional $550,000 is successfully placed. This debt offering is the first time the company taps into the US private placement market. The debt offering’s expected net proceeds will amount to $575,000 which excludes $25,000 to be paid toward officers’ salaries.
KromaTID develops molecular cytogenetics assays, reagents and kits for use in research and clinical laboratories. The company’s assays discover, detect and diagnose a wide range of disease causing mutations in a single test. Based on Directional Genomic Hybridization (dGH), KromaTiD’s assays generate sequence, location and orientation data from single cells.
The company, headquartered in Fort Collins CO, is led by Gary J. Graham (Interim CEO). Revenues for the latest fiscal year were not reported. The executive team includes Christopher J. Tompkins. The board of directors includes Terry Opgenorth, Lauren Costantini and Joel Bedford.
Status: First close
Industry: Other Technology
Amount offered: $600,000
Amount placed: $50,000