DURHAM — ScitoVation, a biotechnology company that supports research on pharmaceuticals and agricultural chemicals, has raised $50,000 in debt and security, according to a recent securities filings.
One investor contributed to the round, which kicked off on September 21. The Durham-based startup is seeking to raise an additional $700,000.
Founded in 2016, ScitoVation works with clients to develop safer pharmaceuticals, food ingredients, agricultural chemicals, commodity chemicals and consumer products.
According to its website, it has expertise in the use of New Approach Methods (NAMs), which include cell-based and computational methods to provide “leading-edge solutions.”
“At the frontline of next generation risk assessment (NGRA), ScitoVation investigates complex issues, such as chemical modes of action, animal to human exposure extrapolation, and the use of genetic expression and sequencing data to ascertain toxicity,” the website says.
“We have innovative people and tools to develop customized cell-based assays to determine safety, model chemical disposition in the body, and analyze and interpret genetic data. Our solutions save our clients time and money by bringing their products to market faster.”
