SmartCells Grabs $1.75M

3/23/10Follow @xconomy

SmartCells, a Beverly, MA-based company developing a daily, self-regulating injection for treating diabetes, has raised $1.75 million of a planned $4 million equity offering, according to an SEC filing. The company, whose SmartInsulin product is in pre-clinical testing, declined to comment at this time on what round the funding represents. In July, SmartCells completed the sale of $1.15 million in convertible debt, according to the company website.

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