CHAPEL HILL — KindHeart Inc., a biotech company that develops, markets and sells cardiac tissue surgical simulators, raised $40,000, according to a filing Thursday with the Securities and Exchange Commission.
The company plans to raise a total of $600,000.
KindHeart creates products that provide a demonstration for cardiac surgical procedures. It also develops tele-simulation capacities to allow device manufacturers to offer surgical suggestions.
The surgery simulators use human mannequins and animated pig organs to allow for real life experience for training or demonstration of new medical devices.
President and CEO W. Andrew Grubbs was previously a UNC-Chapel Hill professor in the Kenan-Flagler Business School. He then went on to become the visiting executive lecturer at the University of Virginia Darden School of Business.
Grubbs is most publicly recognizable for his role as founding chairman of biometrics company AuthenTec.
The total offering amount for KindHeart is $600,000 and the total amount sold is $38,962. The total remaining to be sold is $561,038.
The date of the first sale was Jan 23.
KindHeart made Healthcare Tech Outlook’s top 10 Healthcare Simulation Solution Providers for 2017.The company also presented at the 16th annual Needham Healthcare Conference April 5, 2017.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
