Cell-growth company RealBio Technology starts $3 million raise

KALAMAZOO, Michigan –The tissue-development company RealBio Technology wants to raise $3 million, according to a filing with the Securities and Exchange Commission.

The company has already raised $650,000 of that money, according to its filing. Earlier this week, the Michigan Pre-Seed Capital Fund announced it had provided a micro loan to RealBio.

Formed in June of this year, RealBio wants to improve biomedical research by commercializing their Nth Degree Bioreactor and Support System. The cell and tissue culture technology would allow cells created in the lab to grow as they would in normal human tissue. The company thinks this new technology would cut down on contamination, labor costs and allows for better research.

Nth Degree would be used for drug, chemical and cosmetic testing; production of cell-tissue growth and cultures; stem cell growth and harvesting, among other things.

RealBio will raise the money through convertible promissory notes and warrants, according to the SEC filing. On their Web site, RealBio credits Southwest Michigan First Life Science Fund as its main source of funding.