ENeura Therapeutics, a neuromod developer, today filed an SEC Form D to confirm the sale of nearly $6 million in a debt offering.
The new notice’s first sale was made last week. The Baltimore-based company does not intend for the offering to last for more than one year.
ENeura’s offering total was set at nearly $6.3 million and, after selling $5.9 million of its debt, the company has $375,000 left to be sold, according to the Form D filing. The company listed 15 investors involved in the offering so far.
In February 2018, the migraine treatment developer closed a Series D funding round worth $17 million earmarked for the commercialization of its sTMS mini neuromodulation device, which won FDA clearance in 2017 and has since been launched in the US.
The magnetic stimulation system is designed for the acute treatment and prevention of migraines by using a single-pulse TMS to induce mild electrical currents that can depolarize neurons in the brain. That process is thought to interrupt the abnormal hyperactivity associated with migraine.