DURHAM — Physcient Inc., a surgical device company, has raised an additional $1.1 million by selling debt and options, according to a filing Thursday with the Securities and Exchange Commission.
Physcient
The Durham-based company raised the money from 17 investors. Last year, Physcient raised $134,880 from debt and options. It also raised $2.1 million in February 2015.
Physcient was founded by Hugh Crenshaw and Charles Pell. The company was founded in 2007 and develops new surgical tools designed to decrease tissue damage.
Crenshaw is a biologist and engineer with expertise in biomechanics and advanced instrumentation for biological research. Previously, he was the director of microsystems technology at GlaxoSmithKline, where he led programs in microfluidics and automated physiological measurement.
Pell is a designer, scientist and inventor who has been involved in sculpture, animatronics, maritime defense and pharmaceutical robots. Previously, Pell was co-founder and director of science and technology at Nekton Research, a naval research and development firm funded mostly by the U.S. Department of Defense for advanced technology development.
Physcient is currently developing a dissector that differentiates between tissue types for laparoscopic, thoracic, endoscopic, plastic and general surgery.
In February 2018, the company applied for a patent for its method and device to decrease tissue trauma during surgery. In October 2017, it filed for a patent for its method and device to detect soft tissue.
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
Medical device company Physcient collects $134K of $1M debt offering
