A Research Triangle Park, North Carolina-based pharmaceutical company raised $711,270 in a combination of debt and options, according to a Securities and Exchange Commission filing.
T3D Therapeutics Inc. filed the Form D on Friday. It stated that proceeds will be used for working capital, which may include normal compensation to executive officers.
The company is still looking to sell an additional $288,730 in an effort to reach a total offering amount of $1million. The date of first sale came on Jan. 5.
T3D Therapeutics is led by John Didsbury, chief executive officer and president. Didsbury has over 26 years of experience within the pharmaceutical and biotechnology industries.
The private company was founded in 2013 to explore new methods of treating the Alzheimer’s disease more effectively than those that have been traditionally used in the last two decades.
The primary focus of the company is developing T3D-959, its lead drug product candidate. T3D-959 is taken orally by Alzheimer’s disease patients once a day. The treatment is intended to provide anti-inflammatory and anti-wasting effects caused by the Alzheimer’s disease in patients’ brains.
T3D Therapeutics also believes the treatment has the ability to repair damaged nerve cells, which could provide therapeutic benefit in other central nervous system or neurodegenerative disorders.
Companies relying on a Reg D exemption do not have to register their offerings 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.