Durham biotech startup inSoma Bio adds $200K to its coffers, seeks additional $690K
DURHAM — Biotech startup InSoma Bio has raised an additional $200,000 in security, according to a filing with the US Securities and Exchange Commission.
That’s in addition to $110,000 raised in September and another $200,000 raised in July.
Five investors contributed to the round, which kicked off on August 20. The funds will be used for the payment of salaries and other compensation and benefits and reimbursement of expenses. No officer, director, partner, manager or promoter will receive any payments from the proceeds of this offering.
The Durham-based company is still looking to raise an additional $690,000, the filing noted.
Stefan Roberts, its chief scientific officer, signed the filing. His LinkedIn page names him as a research scientist at Duke University.
Founded in 2018, the Durham-based startup is a developer of protein-based materials created to address biological wounds and soft tissue.
According to its website, it specializes in research and development of genetically protein-based materials to mimic those naturally found in this environment, further modifying these proteins to assemble only with body heat allowing complex cellular environments created with simple solution injections.
Original Article Source: WRAL TechWire