Bio2 Technologies Inc. raised $1.1 million in an equity offering, according to a regulatory filing.
The Woburn, Mass.-based orthopedic bio-scaffold developer opened the sale June 28, making $2 million in equity available in minimum purchases of $20,000. Eighteen investors had ponied up for the offering as of the July 1 filing.
The company, incorporated in 2009 according to the filing, is a spinout from GEO2 Technologies Inc., a material science licensing company that originally developed and patented Bio2’s cross-linked micro-structure material. Bio2 is developing bio-inert and bio-active versions of the highly porous product, which the Food & Drug Administration approved for use in orthopedic applications, according to Bio2’s website.
The filing lists chairman and CEO Robert Lachenauer, who is also a director and the CEO of GEO2, and Alameda, Calif.-based Huntbrew Partnership, listed as a newspaper publisher in the Dun & Bradstreet database. Huntbrew is also listed on a February 2007 SEC filing (PDF) for a GEO2 equity sale.