Morrisville-based XinVivo Raises $3 Million in Equity

4/8/19

By Sydney Price, NC BIZ News

XinVivo Inc., a Morrisville-based X-ray imaging company, has raised $3 million in equity.

The company filed the Form D on Monday. It did not disclose how the company intends to use the money.

According to the filing, the company must raise an additional $17 million to sell its entire offering of $20 million.

XinVivo was founded in 2015 and develops 3D X-ray imaging devices for the healthcare providers.

XinVivo’s imaging system TomoD is currently under clinical evaluation at the University of North Carolina dental clinic. XinVivo claims the system will more quickly and accurately diagnose common dental diseases compared to the most commonly used systems at dental clinics with comparable radiation dose and imaging time.

David LaVance is CEO and president of XinVivo. He holds a law degree from American University Washington College of Law.

LaVance has over 30 years of experience in the health care and medical device industries. He was previously president of Dornier Medical Systems and managing director of KPMG Health Ventures.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The form can be found here.

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