Startups with ties to N.C. State and UNC-Chapel Hill have added fresh capital to support their growth.
Medicom Technologies recently filed paperwork with the U.S. Securities and Exchange Commission for a nearly $4.9 million raise, which increases the firm's fundraising this year to nearly $9 million.
This follows the company in late March filing paperwork for a roughly $4.1 million raise.
Proceeds from the new raise will be used for working capital, according to the filing signed by CEO Michael Rosenberg. The company raised the money from 11 investors.
Rosenberg and Malcolm Benitz cofounded Medicom in 2015 while at N.C. State to develop a health information network that connects disparate data silos through a single interface. The company's technology enables providers, patients and others to access and share relevant health information, such as medical images and reports, that exists across various sources.
Medicom emerged from stealth mode in 2018 and raised $10 million in a Series A round. With that funding, the company established a commercially viable product and signed contracts with the Department of Veteran Affairs and other large health systems.
The company in November 2021 closed a $21.8 million Series B round. Raleigh-based venture capital firm Oval Park Capital led that round, which also included investments from Vocap Partners, Grayhawk Capital and Cone Health Ventures.
A company with ties to UNC also added capital this month.
EpiCypher filed paperwork showing the company has raised $3.3 million of equity from a single investor. The company will use proceeds from the offering for working capital, according to the SEC filing signed July 1 by company president and co-founder James Bone.
The company said it could not yet publicly discuss the raise.
This is the first time in more than a decade that EpiCypher has disclosed financing activity with the SEC. In 2013, the company submitted three filings for fundraising totaling $65,300.
EpiCypher has also been one of the Triangle's top recipients of funding from the National Institutes of Health — aside from local universities. The company last year received about $12.6 million in grant awards. This was up from $11.9 million in 2022 and $8.4 million in 2021, according to data from Blue Ridge Institute for Medical Research, a nonprofit based in western North Carolina that releases annually lists of NIH recipients
EpiCypher, which spun out from UNC, develops reagents and tools for the study of chromatin regulation and to support epigenetics-focused drug development. Chromatin is a mixture of DNA and proteins found in cells.
Epigenetics "is a field of study focused on changes in DNA that do not involve alterations to the underlying sequence," according to the National Human Genome Research Institute.
