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Kypha raises $2.1 million in debt offering

Awardee Story Kypha raises $2.1 million in debt offering
Author: Brian Feldt
Source: bizjournals ( click here to go to the source)

Kypha, an early-stage medical device startup developing a test to monitor inflammation quickly and accurately, has raised $2.1 million in a debt offering, according to a filing with the Securities and Exchange Commission.

Calls to Kypha CEO Chad Stiening and President Scott Glover were not immediately returned.

Kypha's inflammation test works much like a pregnancy test but with the patient using a drop of blood. The patient would have his or her finger pricked -- similar to a diabetes test -- and place the blood on an indicator stick that would within a few minutes give a numeric value assigned to a condition.

Physicians at the point of care would then be able to make more effective decisions for patients with chronic diseases such as Lupus, in which inflammation must be closely monitored.

Previously, Kypha had raised $6 million to support development and garnered an additional $1.5 million in grants.

Kypha moved to St. Louis from Kentucky in 2011 after receiving an investment from Missouri Technology Corp. and funding from the BioGenerator.

In addition to BioGenerator, other previous investors include Arsenal Capital Management, and Serra Ventures from Champaign, Illinois; Saint Louis University's Billiken Angels Network; St. Louis Arch Angels; and Holton Capital Group.

Contact information

Innovation Development Institute, LLC

   45 Beach Bluff Avenue, Suite 300
     Swampscott,  MA 01907-1542

  Tel:  (781) 595-2920