region_090803

-

East

Bionaut Pharmaceuticals Inc.of Cambridge, Mass., raised $2.7 million from 11 accredited investors through a private offering of Series A1 preferred stock and common stock. The pharmaceutical company intends to use the proceeds from the offering for working capital. For more information, call Thomas Klein, executive vice president, at 617- 661-4900.

Hybridon Inc.< (HYBN.OB) of Cambridge, Mass., has filed to raise $20 million through a private offering of units of common stock with warrants. Spencer Tr ask Ventures Inc. of New York is acting as an agent on the placement for $1.6 million in sales commissions. The company develops novel therapeutics and diagnostics based on synthetic DNA. For more information, call Stephen Seiler, executive officer, at 617-679-5500.

Sionex Corp. of Waltham, Mass., raised $1.5 million from five accredited investors through a private placement of convertible promissory notes and warrants. A minimum investment of $152,130 was required on the placement. The spectrometers developer intends to use the proceeds from the offering for working capital. For more information, call Basil Pallone, CFO, at 781-693-3300.

BDMetrics Inc. of Baltimore has filed to raise $300,000 through a private offering of convertible promissory note. A minimum investment of $25,000 is required on the placement. The ITcompany intends to use the proceeds from the offering for working capital. For more information, call Paul Navarro, vice president, at 410-420-0325.

Solomon Technologies Inc. of Benedict, Md., has filed to raise $300,000 through a private offering of common stock. At the time of its SEC filing, the company had already raised $185,000 from 10 accredited investors. A minimum investment of $5,000 is required on the placement. The developer of an electric propulsion system intends to use the proceeds from the offering for working capital. For more information, call David Tether, CEO, at 301-274-4479.

Digital Optics Corp.of Charlotte N.C., has filed to raise $5 million through a Series 1 convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $4.3 million from 35 accredited and 27 non-accredited investors. The manufacturer of wafer-fabricated micro-optics and optical sub-assemblies intends to use the proceeds from the offering for working capital. For more information, call Edward Goode, CFO, at 704-887-3100.

Polyglot Systems Inc. of Durham, N.C., has filed to raise $256,000 through a private offering of Class A common stock. A minimum investment of $5,000 is required on the placement. The software developer intends to use the proceeds from the offering for salaries and fees, machinery and equipment, debt repayment and working capital. For more information, call Chung-Suk Charles Lee, president, at 919-419-6422.

Back to top

South

Invistics Inc. of Norcross, Ga., raised $2.5 million from four accredited investors through a Series A convertible preferred stock round of financing. The developer of advanced planning and scheduling software intends to use the proceeds from the offering for working capital. For more information, call Thomas Knight, CEO, at 770-559-6386.

ClearCube Technology Inc.< of Austin, Texas, has filed to raise $8 million through a Series D preferred stock round of financing. At the time of its SEC filing, the company had already raised $5 million from one accredited investor. The company, involved in centralized computing for desktop workstations, intends to use the proceeds from the offering for working capital. For more information, call Elizabeth Jordan, acting CEO, at 512-652-3500.

Back to top

Midwest

< <b />Provis Corp.of Minneapolis has filed to raise $600,000 through a private offering of 8% convertible promissory notes and warrants. At the time of its SEC filing, the company had already raised $500,000 from 10 accredited investors. The minimum investment of $25,000 required on the placement can be waived. Feltl & Co. of Minneapolis is acting as an agent on the placement for $35,000 and a warrant to purchase company’s Series A convertible preferred stock. The software developer, which focuses on Electronic Design Automation for the semiconductor industry, intends to use the proceeds for working capital. For more information, call Richard Davenport, CEO, at 763- 781-0308.

CABG Medical Inc. of Minneapolis raised $2.3 million from 33 accredited investors through a private placement of common stock. The minimum investment of $100,000 required on the placement can be waived. The developer of coronary bypass devices and related products intends to use the proceeds from the offering for purchase, rental or leasing and installation of machinery and equipment, working capital as well as product development, regulatory affairs program, clinical studies and marketing. For more information, call Manuel Villafana, CEO, at 763-867- 8506.

Gearworks Inc. of Eagen, Minn., has field to raise $5.5 million through a Series A-2 preferred stock round of financing. At the time of its SEC filing, the company had already raised $3.9 million from seven accredited investors. The developer of wireless mobile applications intends to use the proceeds from the offering for working capital. For more information, call David Makarechian, executive officer, at 800-735-3457.

Data Search Systems Inc. of St. Louis raised $2 million from 13 accredited investors through a Series A preferred stock round of financing. The high-speed data searching technology company intends to use the proceeds from the offering for working capital. For more information, call Benjamin Brink, executive officer, at 314-454- 5749.

NewMedical Technology Inc. of Prospect Heights, Ill., has field to raise $600,000 through a private offering of common stock. At the time of its SEC filing, the company had already raised $160,000 from three accredited investors. A minimum investment of $10,000 is required on the placement. The maker of surgical devices intends to use the proceeds from the offering for working capital. For more information, call A. Michael Hanna, co-CEO, at 847-567-6995.

Cumberland Pharmaceuticals Inc. of Nashville, Tenn., has filed to raise $510,000 through a private offering of common stock. At the time of its SEC filing, the company had already raised $24,996 from one accredited investor. The company, which plans to acquire and market niche pharmaceutical products, intends to use the proceeds from the offering for working capital. For more information, call A.J. Kazimi, CEO, at 615-255-0068.

GTx Inc. of Memphis, Tenn., raised $20 million from 11 accredited investors through a private placement of 8% Series E cumulative convertible preferred stock. A minimum investment of $25,000 was required on the placement. The biopharmaceutical company intends to use the proceeds from the offering for working capital. For more information, call Mark Mosteller, CFO, at 901-523-9700.

Telemics Inc. of Louisville, Ky., raised $500,000 from eight accredited investors through a private placement of senior secured convertible promissory note. The designer of wireless telemetry networks intends to use the proceeds from the offering for working capital. For more information, call Scott Roussell, CEO, at 502-583-9052.

Imalux Corp. of Cleveland raised $1.9 million from nine accredited investors through a Series A convertible preferred stock round of financing. A minimum investment of $21,934 was required on the placement. The medical technology company intends to use the proceeds from the offering for salaries and fees, purchase, rental or leasing and installation of machinery and equipment, construction or leasing of plant buildings and facilities, debt repayment and product development. For more information, call J. Lloyd Breedlove, CEO, at 216-502-0748.

Back to top

West

8×8 Inc. (Nasdaq: EGHT) of Santa Clara, Calif., raised $980,840 from 10 accredited investors through a private placement of common stock. Additionally, the company placed in common stock warrants, which will bring on up to $2.3 million if warrants are exercised. Griffin Securities Inc. of New York acted as an agent on the placement for $49,000 in sales commissions. The communication technology company intends to use the proceeds from the offering for working capital. For more information, call James Sullivan< , CFO, at 408-727-1885. </p />

Airwave Wireless Inc. of San Mateo, Calif., raised $1.8 million from two accredited investors through a Series C preferred stock round of financing. The provider of enterprise wireless networks intends to use the proceeds from the offering for salaries, fees and working capital. For more information, call Greg Murphy, president, at 650-286-6100.

Avanir Pharmaceuticals (AMEX: AVN) of San Diego raised $10 million from 13 accredited investors through a private placement of Class A common stock with warrants. Think Equity Partners LLC of New York acted as an agent on the placement for $501,000 in sales commissions. The drug discovery company intends to use the proceeds from the offering for working capital. For more information, call Gregory Hanson, CFO, at 858-622-5200.

CardioVention Inc. of Santa Clara, Calif., raised $21.2 million from 21 accredited investors through a Series C preferred stock round of financing. The medical device company intends to use the proceeds from the offering for working capital. For more information, call J. Casey McGlynn, executive officer, at 408- 844-5100.

Collation Inc. of Palo Alto, Calif., raised $8 million from four accredited investors through a Series B preferred stock round of financing. The software developer intends to use the proceeds from the offering for working capital. For more information, call Robert Roblin, CEO, at 650-561-9807.

Conor Medsystems Inc.of Menlo Park, Calif., has filed to raise $30 million through a Series D preferred stock round of financing. At the time of its SEC filing, the company had already raised $11.9 million from 22 accredited investors. The company, which develops stents and other medical devices, intends to use the proceeds from the offering for working capital. For more information, call Frank Litvack, executive officer, at 650-614- 4100.

Courtroom Connect of San Francisco raised $397,500 from 11 accredited investors through a Series C preferred stock round of financing. The company, which provides wireless Internet access in court facilities, intends to use the proceeds from the offering for salaries and fees, debt repayment and working capital. For more information, call Louis Goldberg, president, at 415-762-2108.

eMotion Inc. of San Francisco raised $850,000 from one accredited investor through a Series F preferred stock round of financing. The software developer intends to use the proceeds from the offering for working capital. For more information, call Richard Fisher, CEO, at 415-546-2113.

Entopia Inc.< of Belmont, Calif., raised $7 million from three accredited investors through a Series C preferred stock round of financing. The software developer intends to use the proceeds from the offering for working capital. For more information, call Karin Bootsma, vice president, at 650-632-0101.

Hotwire Inc. of San Francisco raised $2 million from one accredited investor through a private placement of Series C preferred stock and warrants to purchase Class B common stock. The Internet based travel company intends to use proceeds from the offering for working capital. For more information, call Timothy Dunn, CFO, at 415-343-8680.

PostX Corp. of Cupertino, Calif., has filed to raise $8.6 million through a Series B-1 convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $4.8 million from one accredited investor. The software developer intends to use the proceeds from the offering for working capital. For more information, call Thomas Thampy, executive officer, at 408-861-3500.

TeraBlaze Inc. of Cupertino, Calif., raised $2 million from five accredited investors through a private placement of convertible promissory notes. The semiconductor company intends to use the proceeds from the offering for working capital. For more information, call Shankar Mukherjee, president, at 408-343-3780.

< <b />Kai Pharmaceuticals Inc. of Menlo Park, Calif., has filed to raise $18.2 million through a Series A preferred stock round of financing. At the time of its SEC filing, the company had already raised $15.3 million from 15 accredited investors. A minimum investment of $25,000 is required on the placement. The company, focused on discovery and development of enzymes, intends to use some proceeds from the offering for working capital. For more information, call J. Casey McGlynn, executive officer, at 650-727-7720.

Venturi Wireless Inc.of Sunnyvale, Calif., has filed to raise $6 million through a Series B preferred stock round of financing. At the time of its SEC filing, the company had already raised $1.5 million from five accredited investors. The provider of wireless network acceleration solutions for mobile operators intends to use the proceeds from the offering for working capital. For more information, call John Fazio, president, at 408-565-9100.

Vox2Data Inc.< of Beverly Hills, Calif., has filed to raise $2.2 million through a private offering of 7% convertible preferred stock. A minimum investment of $10,000 is required on the placement. The developer of a proprietary medical record system intends to use the proceeds from the offering for salaries and fees, machinery and equipment, working capital and various product development related expenses. For more information, call Joseph Torkan, chairman, at 310-888-8026.

Xoom Corp. of San Francisco raised $545,600 from four accredited investors through a private offering of common and Series A preferred stock. The technology company intends to use the proceeds from the offering for working capital. For more information, call Kevin Hartz, CEO, at 415-621-4926.

InteGreat Concepts Inc. of Phoenix raised $2 million from 16 accredited and 14 non-accredited investors through a private offering of common stock. The developer of electronic medical record software intends to use the proceeds from the offering for salaries, fees, debt repayment and working capital. For more information, call Gerald Mullarkey, CFO, at 602-952- 2220.

DigiSlice Corp. of West Linn., Ore., has field to raise $200,000 through a private offering of convertible promissory note through a second round of bridge financing. At the time of its SEC filing, the company had already raised $25,000 from one accredited investor. A minimum investment of $25,000 is required on the placement. The technology company intends to use some proceeds from the offering for working capital. For more information, call Joonees Chay, CEO, at 503-226-4960.

Sonus Pharmaceuticals Inc.(Nasdaq: SNUS) of Bothell, Wash., raised $14.2 million from 30 accredited investors through a private placement of common stock with warrants. Punk, Ziegel and Co. of New York helped to place an issue for $960,976 in sales commissions. The pharmaceutical company intends to use the proceeds from the offering for working capital. For more information, call Richard Klein, CFO, at 425-487-9500.

Back to top