SenGenix revised its offering cap upward to $2.5 million and received $1.97 million in commitments

Change: offered +67% / raised +338% / placed 79%

sengenicsSenGenix upped its financing to $2.5 million from $1.5 million after receiving new commitments. An additional $1.52 million worth of securities was placed by the company with twelve investors since the company last released data almost a year ago. This brings to $1.97 million the amount raised from the fifteen backers who subscribed to the offering. The subscription is structured to close once the 21% left is fully subscribed or in three weeks at the latest. This is the first time securities are issued by SenGenix under a registration exemption.

SenGenix markets and develops point-of-care diagnostic tests (POCT) based on fluorescently responsive sensors (FRS) that will deliver fast, accurate, actionable patient data at a low cost. The product platform is centered around a protein-engineering technology developed at Duke University Medical Center. The company plans on rolling out a stand-alone Creatinine test, and a Basic Metabolic Panel (BMP) consisting of the eight most commonly ordered tests which are Glucose, BUN, Creatinine, Sodium, Potassium, Calcium, Chloride and Bicarbonate.

The company, headquartered in Durham NC, was registered in 2012. SenGenix kept its revenues undisclosed.
The executive team includes Richard S Surwit and Sandra Cummings.
The board of directors includes Homme Hellinga, Lawrence Cohen and Ralph Snyderman.

Offering recap
Status: Intermediary close
Company: SenGenix
Industry: Biotechnology
Amount offered: $2.5 million
Amount placed: $1.97 million
First sale: 08-02-2013
Data as of: 07-07-2014

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