RESEARCH TRIANGLE PARK — A technology company that is commercializing flourescent dyes for health care uses has raised $785,000 in a private equity offering, according to a filing Thursday with the Securities and Exchange Commission.
A photo illustrating Photoacoustic imaging (also called optoacoustic imaging) is an emerging, non-invasive imaging method.
Nirvana Sciences Inc. raised the money from 10 investors and would like to raise a total of $1.5 million, according to the filing.
The company, based in Research Triangle Park, is commercializing red and near-infrared fluorescent dyes for use in diagnostics and imaging applications.
It believes its technology can be used it flow cytometry, microscopy and photoacoustic imaging.
Flow cytometry, for example, is used in the diagnosis and treatment monitoring of different types of cancers such as leukemia and infectious diseases caused by HIV.
Nirvana Sciences was founded in 2011 and previously received $1.5 million from the National Institutes of Health and $1.4 million in Series A funding.
It is a spin-out from the chemistry department at North Carolina State University.
Russell Thomas is the company’s chief executive officer. His first venture involved commercializing a fluorescent dye analytical instrument. Prior to pursuing Nirvana Sciences, he was director of new ventures at N.C. State University.
In March, the company participated at the CED Life Science conference in the Lightning Round held at the Raleigh Convention Center.
Nirvana Sciences’ focus
“We develop dyes through corporate partnerships for life science applications”
Private companies such as Nirvana Sciences relying on the Rule 506 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
