ParaGen Technologies filed an amendment to an SEC Form D last week confirming the sale of more than $4.1 million.
Columbus, Ohio-based ParaGen is offering a total of $10 million in equity and options, warrants and/or other rights to purchase securities. Following its sale of $4.1 million, the company still has nearly 5.8 million remaining to be sold.
The first sale in the offering came on June 11, 2019, and 27 total investors have participated so far. The company does not expect the offering to last longer than one year, according to the filing.
ParaGen did not list an intended use of proceeds, but the company is developing a platform scaffold technology that uses tissue engineering to address biologic and synthetic implants. Its four portfolio companies include RenovoDerm, Atreon Orthopedics, Vascular Genesis and Tarian Medical. Each company is making products for wound care, orthopedic, peripheral vascular and hernia markets.