NanoMedical Systems raised $4.1 million in a new round of financing, according to a regulatory filing. The Delaware-based company offered equity and warrants to the 46 investors that contributed to the round.
The company did not disclose how it plans to use its newly-acquired funds. No money from the round is slated to compensate sales or executive officers, NanoMedical Systems reported.
The company is developing an implantable system that uses nanochannels to regulate the delivery of drugs from an internal reservoir.