Minneapolis-based Zipnosis, an “on the go” provider of remote diagnosis and treatment solutions for individuals suffering from basic health ailments, recently filed notice that the company aims to raise up to $2m in investment capital.
While the SEC Form D (Notice of Exempt Offering of Securities) filed on June 25th indicates that only $62.5k has been raised to date in this offering, securities attorney Michael Schley of Larkin Hoffman explains that “It’s not uncommon for startup companies to file their Reg D exemption notices early in their funding cycle, sometimes even before the first sale. Although an issuer must file amendments upon certain material changes, sales up to the stated amount do not require such a filing and the Form D will suffice for a period of up to one year while the issuer completes its offering.”
The brainchild of Jon Pearce and Dr. Steve Claypool, Zipnosis received early attention after winning the 2008 Minnesota Cup student division, as well as for bringing Minute Clinic (originally QuickMedx, then Minute Clinic, now CVS Caremark) Co founder Rick Krieger in as CEO. Currently, U of M’s CSOM Professional Director and Instructor Toby Nord is Chairman of the Board.
The company previously raised $200k in March and one month later it was reported that Zipnosis entered a “one year pilot” with the St. Louis Park-based hospital and clinics chain known as Park Nicollet Health Services.
Zipnosis declined to comment on this article; stay tuned for more as it’s known…