Wound Management Technologies (OTC:WNDM) initiated a funding round among its existing shareholders, seeking to raise $2.4 million.

The company is offering shares to previous investors at the price of $70 apiece, according to a regulatory filing.

The Fort Worth, Texas-based medical device company recently named Deborah Jenkins Hutchinson president for a 2nd time. Hutchinson had also served as the wound care company’s president from January 2010 to March 2012.