Enumeral Biomedical disclosed selling 85% of its non-brokered mezzanine financing. The company launched a $750,000 investment round subscribed so far by six investors. The subscription which raised $640,000 started a week ago. According to the offering’s structure the company may raise an additional $120,000 until February 2015. The company closed three unregistered private placements which raised an estimated $6.34 million.
The company commercializes a proprietary microengraving technology that provides rapid and simultaneous analysis of antibody affinity and specificity as well as cytokine profiles and T-cell functionality. The technology is designed for the diagnosis and treatment of infectious, autoimmune and inflammatory diseases.
The company, headquartered in New York NY, is led by Arthur H. Tinkelenberg (President). Enumeral Biomedical kept its revenues undisclosed. The executive team Derek Brand and John J. Rydzewski. The board of directors includes Allan Rothstein, Barry Buckland, Daniel B. Wolfe, Emanuele Ostuni and Michael Weiss.
Status: First close
Company: Enumeral Biomedical
Amount offered: $750,000
Amount placed: $640,000
First sale: 2014-02-03