Analyte Logic disclosed raising its equity offering from $500,000 to $1.25 million after placing an additional $350,000 with four new investors. The offering is indefinite and started to sell in July 2011. The company had originally placed $100,000, since then additional equity securities were subscribed on two occasions in 2012 for $100,000 and $150,000. Thus far Analyte Logic raised a total of $750,000 from eleven backers.
The company is behind the development of Aegis, an in vivo monitoring system which tracks oxygen, carbon dioxide, pH and temperature in blood, organs and tissue. The fiber optic sensor system has been designed for Original Equipment Manufacturers (OEM*) in the medical industry. The device can identify a problem at the earliest sign of physiological deterioration and alert medical teams before a crisis develops.
The company, headquartered in Denver CO, is led by Nicholas Taro (Founder, President and CEO). Revenues were not disclosed. The executive team includes David Markle and Scott Rosenthal (Chief Scientists), David Fedler (COO) and David Milholm (CFO).
Status: Fourth close
Company: Analyte Logic
Amount offered: $1.25 million
Amount placed: $750,000
First Sale: 07/05/11
*OEM is the company that originally manufactures the product.