A Morrisville-based biotechnology company has raised $7 million in an equity offering, according to a filing with the Securities and Exchange Commission.
Locus Biosciences Inc. is an emerging biotech company focused on the discovery and development of antimicrobial applications through the use of CRISPR/Cas technology. This platform helps create therapeutics for critical disease areas, such as resistant bacterial infections.
The biotech company intends to raise a total of $14 million, with $7 million remaining to be sold, through two investors.
Locus Biosciences is led by CEO and co-founder Paul Garofolo. Other co-founders include Dr. Rodolphe Barrangou, Dr. Charles Gersbach, Dr. Dave Ousterout and Dr. Chase Beisel.
“As the only company in the world using CRISPR-Cas3 enzymes to kill targeted pathogens, we believe Locus could have the world’s most powerful mechanism of action to drive programmed cell death in bacterial targets,” said Garofolo in a statement. “Not only could this technology revolutionize the way we treat multi-drug resistant infections in patients, but it could also catalyze a novel and powerful approach to changing the human microbiome.”
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.
The filing can be found here.