Raleigh-based medical company Novan has secured $25 million in post IPO equity funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Sept. 6 and financed by Aspire Capital Partners LLC.
According to its Crunchbase profile, "Novan, Inc. develops products that tap the anti-bacterial properties of nitric oxide by encapsulating the compound in nano-particles that deliver therapeutic agents to the desired body location. The company was incorporated in 2006 and is based in Research Triangle Park, North Carolina."
The 12-year-old company has raised nine previous funding rounds including a $35 million post IPO equity round earlier this year.
The round brings total funding raised by Raleigh companies in biotechnology over the past month to $46 million, an increase of $30 million from the month before. The local biotechnology industry has seen 13 funding rounds over the past year, raking in a total of $107 million in venture funding.
In other local funding news, gaming company Kronoverse announced a seed funding round on Sept. 25, financed by Calvin Ayre.
According to Crunchbase, "The future of e-sports is being developed by Kronoverse. The Kronoverse platform can be summarized as follows: All game data is available on a transactional level. You can know everything that is happening inside the game's logic."
The company also raised a seed round earlier this year.
This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.
