Know Bio, LLC, a Durham, NC-based RTP based conglomerate of biotechnology and MedTech companies, completed a $30m equity financing.
Reedy Creek Investments provided the funds.
The company intends to use the funds for research & development and general operations.
Led by Neal Hunter, CEO and Chairman of the Board of Managers, Know Bio is a life science company focused on using its extensive intellectual property developed internally as well as licensed patents and applications in the field of nitric oxide across a vast majority of therapeutic applications to redefine the standard of care in a number of diseases and conditions.
Vast Therapeutics and PhotonMD are two companies that have emerged from the KNOW Bio platform.
Corporate strategy involves forming subsidiaries to focus on specific diseases and conditions, assemble teams of experienced personnel in each and incentivize them to succeed by granting them equity in their respective subsidiary, with KNOW Bio retaining controlling ownership of each unless and until an appropriate opportunity for a subsidiary sale, IPO or other financing makes sense.
The company is expanding its team in selected high impact areas by initiating searches for a Vice President of Drug Development, Chief Medical Officer, Clinical Operations Specialist, B2C Sales Director for Medical Devices and a Controller for the combined group.