DURHAM — A Durham-based company called Additive Device Inc. has raised $385,000 in a private equity offering, according to a filing with the Securities and Exchange Commission.

The company said in the filing that it plans to raise a total of $1.5 million but that the exact amount depends on investor interest. The current raise came from 10 investors.

Additive Device was founded in 2017 and raised $650,000 last year, according to an earlier SEC filing.

[While the company does not have a web site and little other information is available online, the use of “additive manufacturing techniques” to make medical devices is growing rapidly.

[The terms “additive manufacturing” and “rapid prototyping” are often used interchangeably, but additive manufacturing specifically refers to production methods that build up a part by adding layers of material. It lowers costs and speeds up development.]

The chief executive officer of the company is Andrew Miller.

Kurt Jacobus, the CEO of Medshape Inc., is listed as a director of Additive Device.  The Atlanta-based company is a manufacturer of orthopaedic foot and ankle devices using shape changing metal and polymer technologies.

Also listed as a director of Additive Device is Ken Gall, who is a professor and chairman of mechanical engineering and materials science at Duke University

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