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Antibacterial Technology from Novan Lands $6 Million in New Capital


10/11/2011 9:38:16 AM

Nanotechnology company Novan has raised $6 million in financing as the startup continues development of its nitric oxide technology into a bacteria-fighting tool. Securities filings show that Durham, North Carolina-based Novan’s latest round was a mix of equity and options. Investors include Neal Hunter, co-founder of Durham LED lighting technology company Cree (NASDAQ:CREE). Cree executive John Palmour has also joined as an investor as has Robert A. Ingram, a veteran life sciences executive who is also currently a general partner at Hatteras Venture Partners, a Durham venture capital firm.

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