Regenerative aesthetic product developer Suneva Medical filed an SEC Form D last week that confirmed the sale of nearly $25.1 million in equity.
The San Diego-based company met its total offering amount of $25.098 million after making the first sale for the new notice on May 15. It did not intend for the offering to last for more than a year, and it ended up lasting for less than one week.
In total, five investors contributed to the offering, which Suneva Medical confirmed in the filing is not being made in connection with a business combination transaction, including a merger, acquisition or exchange offer.
Suneva Medical did not list an intended use of proceeds, but its current portfolio includes four main products, according to the company website.
The company develops Bellafill for the correction of nasolabial folds and moderate to severe, atrophic, distensible facial acne scars on the cheek. It also produces the Puregraft product that has CE Mark approval for the indication of autologous fat transfer.
Healeon HD PRP is an FDA-cleared for the safe and rapid preparation of autologous platelet-rich-plasma from a small sample of peripheral blood at the patient point of care, while Suneva’s Silhouette InstaLift is for use in mid-face suspension surgery to temporarily fixate the cheek sub-dermis in an elevated position.