Inception 5 received two commitments for its $10 million financing round. Investors committed to buy 50% or $5 million worth of equity on June 6th. $5 million in additional funding can be raised before June 2015 based on the placement’s structure. This is the first time Inception 5 is selling securities under a registration exemption.
The company is a biopharmaceutical company dedicated to the research and development of small molecule remyelinating therapies for patients with multiple sclerosis. The company was created and is backed by Roche and Versant Ventures.
Petpiboon Prasit (President and CEO) leads the San Diego CA based company which was registered in 2013. Inception 5 elected to keep its revenues undisclosed.
The executive team includes Thomas Coll.
The board of directors includes Bradley Bolzon.
Status: First close
Company: Inception 5
Amount offered: $10 million
Amount placed: $5 million
First sale: 06-06-2014
Data as of: 06-23-2014
$15.83 million was raised by Reviva Pharmaceuticals following the successful placement and issuance of its unregistered equity securities. A total of forty-seven investors participated to the non-brokered placement which started almost two weeks ago. Two previous unregistered financing rounds raised an estimated $19.66 million.
Reviva Pharmaceuticals develops new drugs for the central nervous system, metabolic, cardiovascular, inflammation and pain indications. Therapeutic drugs are developed by using an integrated chemical genomics approach and proprietary chemistries.
The company, headquartered in San Jose CA, is led by Laxminarayan Bhat (President and CEO). Reviva Pharmaceuticals elected to keep its revenues undisclosed.
The company has raised an estimated total of $35.5 million via private unregistered security offerings.
Company: Reviva Pharmaceuticals
Amount offered: $15.83 million
Amount placed: $15.83 million
First sale: 06-12-2014
Data as of: 06-25-2014
Applied Bioresearch launched a $750,000 non-brokered equity offering based on information filed with the SEC. The subscription to the equity offering hasn’t started yet. The offering is structured to remain open until May 2015 or when the fundraising cap is reached, whichever one comes first. Two previous unregistered financing rounds raised an estimated $750,000.
The company is a research and development company in stealth mode. The company is combining several technologies to explore new solutions to the most pressing problems in biotechnology and healthcare.
The company, led by Kendal Svedeen, is headquartered in Draper UT. No revenues were reported by the company.
Company: Applied Bioresearch
Amount offered: $750,000
Data as of: 05-30-2014
Hoolux Medical disclosed selling $360,000 worth of equity securities as part of financing round. The equity securities, which started to sell a year ago, were bought by eight investors. The offering’s structure suggests the placement was scheduled to close before May 2014. Until this disclosure Hoolux Medical had raised an estimated $285,000 in unregistered securities via one previous financing round.
Hoolux Medical markets and develops a point-of-care advertising platform for physicians and pharmaceutical advertisers. The screens installed in physicians waiting rooms uses facial recognition technology to deliver advertising messages to the target audience and precisely report data to advertisers.
The company was registered in 2013 and has its headquarters located in Brooklyn NY. No revenues were reported by the company.
The executive team includes Ian Gallagher.
The company has raised an estimated total of $645,000 via private unregistered security offerings.
Company: Hoolux Medical
Industry: Other Technology
Amount offered: N/A
Amount placed: $360,000
First sale: 05-23-2014
Data as of: 05-27-2014
Change: offered +525% / raised +50% / placed 24%
Orca Pharmaceuticals re-opened and upped its equity financing to $5 million from $800,000 after selling additional securities. Prior investors ponied up an additional $400,000. They had previously subscribed to $800,000 in securities according to another filing disclosed six months ago. So far, eight backers committed $1.2 million to Orca Pharmaceuticals’ offering. The offering is structured to close in almost six months at the latest. This is the first time the company is offering securities under regulation D of the Securities Act of 1933. The company is backed by BioMotiv, a Cleveland OH based therapeutics accelerator, and the New York University innovation Venture Fund.
The company is developing an oral drug to treat a range of autoimmune diseases primarily psoriasis but also ankylosing spondylitis (inflammatory arthritis that affects joints in the spine) and inflammatory bowel disease. The company is leveraging the discovery that the orphan nuclear receptor RORγt’s activity can be inhibited by small molecule compounds that could be developed into drugs.
The company, headquartered in Oxford UK, was registered in 2013. Orca Pharmaceuticals kept its revenues undisclosed. The board of directors includes Baiju Shah, David U’Prichard, Michael Hunter, Roy Pettipher and Thomas Facklam.
Status: Intermediary close
Company: Orca Pharmaceuticals
Amount offered: $5 million
Amount placed: $1.2 million
First sale: 08-15-2013
Data as of: 03-17-2014
Tansna Therapeutics is in the market with a $850,000 non-brokered equity offering. The offering is expected to close within a year. Tansna Therapeutics didn’t close any previous offering on the US private placement market however the company received investments from the pre-seed Spark Fund and the Missouri Technology Corp. according to the St. Louis Business Journal.
Tansna is a drug research and development company focusing on discovering and commercializing oral drugs to treat epilepsy. It has discovered novel compounds that are highly effective in several animal models of epilepsy, including refractory epilepsy. According to the company, nearly 1 in 26 people will develop epilepsy in their lifetime.
The company is headquartered in St. Louis MO. No revenues were reported for the latest fiscal year.
The executive team includes George Capps, Robert Karr and Alan Macinnes. The board of directors includes Max Baker, Charles Bolten and Rajesh Devraj.
Company: Tansna Therapeutics
Amount offered: $850,000
Amount placed: $0
A first close of $212,000 was initiated by PNP Therapeutics on its fundraising effort started this month. 38% of the $565,000 non-brokered equity and warrant offering was placed with six investors. The private placement will remain open for a year while an additional $353,000 is raised by the company. Previous private placements initiated by the company raised an estimated $2.8 million. The company is backed by Birmingham Technology Fund a fund managed by Greer Capital and Vulcan Medical Ventures.
PNP Therapeutics is a clinical-stage, biopharmaceutical company engaged in the development and commercialization of a platform technology and proprietary products for the treatment of cancer. At the center of PNP’s Therapeutic system is a patented enzyme (E. coli purine nucleoside phosphorylase) that has been shown to work with a variety of well-characterized nucleoside prodrugs generating active metabolites with high levels of anti-tumor activity. In other words, the treatment aims at triggering solid tumors to develop their own chemotherapy and thus elicit their own self-destruction. The company’s technology is based on patents owned by the University of Alabama at Birmingham Research Foundation and the Southern Research Institute of Birmingham.
The company, headquartered in Birmingham AL, is led by William B. Parker (President). PNP Therapeutics elected not to disclose its revenues.
The executive team includes William B. Parker. The board of directors includes John C. Lankford, Charles K. Porter, Lawrence W. Greer, James F. Fuqua and Claude Bennett.
Status: First close
Company: Pnp Therapeutics Inc
Amount offered: $565,000
Amount placed: $212,000
Northwest Medical Isotopes announced a first close of $200,000 via a fundraising effort initiated this month. 50% of the $400,000 non-brokered equity offering was placed with a single investor. The company will attempt to raise an additional $200,000 in funding before the end of the offering, a year from now. Up to this point Northwest Medical Isotopes had raised an estimated $2.83 million via one financing round.
Northwest Medical Isotopes (NWMI) is a US-based organization that offers a domestic manufacturing solution to the current molybdenum-99 (mo-99) crisis through low-energy, cost-effective and sustainable processes. According to the company, radioisotopes are in high demand from the medical community for the diagnose and treatment of disease and close to 100% of the supply is imported. The company has assembled a team of US organizations with the expertise and facilities to cost effectively address the demand of the US market.
According to an article on Market Playground, in the US and Europe alone, 28 million medical procedures used radioactive isotopes, and those numbers are expected to increase 10% annually.
The company, headquartered in Corvallis OR, is led by Nicholas Fowler (Chief Executive Officer). Northwest Medical Isotopes elected not to disclose its revenues. The executive team includes Kirk Gerner (Executive Director). The board of directors includes Larry Mullins, Carolyn Haass (Project Manager) and Milton Cheever.
Status: First close
Company: Northwest Medical Isotopes
Amount offered: $400,000
Amount placed: $200,000
$500,000 were successfully placed by Tracelink, Inc. with one investor as part of a $1,500,000 debt fundraising effort initiated this month. The company expects to raise an additional $1 million to close the offering within a year. This is the second known offering initiated by the company on the US private placement market. It previously raised an estimated $3.8 million from twelve investors. The company is backed since 2009 by Firstmark Capital, an early stage firm based in New York.
TraceLink protects patients, enables health, grows profits and ensures compliance for companies across the global Life Sciences network through the TraceLink Life Sciences Cloud application (app). The app platform enables global connectivity, visibility and traceability of pharmaceuticals from raw materials to patient. A single point and click connection to the Life Sciences Cloud delivers the information, insight and collaboration needed by pharmaceutical companies to improve performance and reduce risk across global supply, manufacturing and distribution operations.
The company is headquartered in Wakefield MA. TraceLink was founded in 2009 following the acquisition and merger of SupplyScape a company founded by Shabbir Dahod TaceLink’s current CEO. The management team includes Mike Mozzer (CFO), Peter Spellman (Product and Cloud Engineering), Lucy Deus (Product Management), Bob Sturim (Engineering), Brian Daleiden (Marketing), John Kordash (Cloud and CIO) and Dan Walles (Network Development).
The board of directors includes Lawrence Lenihan and Jack Cooper
Status: First close
Company: Tracelink, Inc.
Industry: Other Technology
Amount offered: $1,500,000
Amount placed: $500,000
Focal Point Pharmaceuticals, Inc. completed its $150,000 equity offering which started this month. The non-brokered private placement was subscribed by two investors. This is the first known offering initiated by the company on the US private placement market.
As Focal Point is in stealth mode, it is unclear what its line of business will exactly be though it seems to be related to pharmaceutical compound commercialization. Focal Point is tightly linked to a company called Hapten Sciences where Ray Hage and Gary Prosterman are currently CEO and Chairman. Both companies share the same address. Hapten Sciences has licensed a compound developed by ElSohly Laboratories Inc. and University of Mississippi pharmaceutical researchers to prevent reactions to poison ivy, oak and sumac.
The company, headquartered in Memphis TN, is led by Raymond “Ray” J. Hage Jr.(President) and Gary Prosterman (Chairman).
Status: Completed/Final close
Company: Focal Point Pharmaceuticals, Inc.
Amount offered: $150,000
Amount placed: $150,000