DURHAM — Biotech startup InSoma Bio has raised $50,000 in security, according to a filing with the US Securities and Exchange Commission.
One investor contributed to the round, which kicked off on August 20. That’s in addition to the $200,000 raised in July. The funds will be used for the payment of salaries and other compensation and benefits and reimbursement of expenses. No officer, director, partner, manager, or promoter will receive any payments from the proceeds of this offering.
The Durham-based company is still looking to raise an additional $950,000, the filing noted.
Stefan Roberts, its chief scientific officer, signed the filing. His LinkedIn page names him as a research scientist at Duke University.
Founded in 2018, the Durham-based startup is a developer of protein-based materials created to address biological wounds and soft tissue.
According to its website, it specializes in research and development of genetically protein-based materials to mimic those naturally found in this environment, further modifying these proteins to assemble only with body heat allowing complex cellular environments created with simple solution injections.
Durham biotech startup inSoma Bio raises $202,000 in security