Ribometrix, a biotech and pharmaceutical company, raised $3.5 million in equity, according to a filing Wednesday with the Securities and Exchange Commission.
Greenville, North Carolina-based Ribometrix is a platform therapeutics company that targets RNA structures to discovery new drugs for human diseases.
Kevin Weeks, vice president and founder, is additionally a chemistry professor at UNC-Chapel Hill where RNA structure and function as well as RNA therapeutics are key areas of his research.
Ribometrix disclosed that the investment would go toward working capital, which could include executive compensation.
While the company declined to disclose issuer size, the funds were raised through 10 investors, with a $10,000 investment minimum.
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.