Drug delivery tech dev Modular Medical raises $4m

Drug delivery tech developer Modular Medical has raised $4.2 million in a new round of equity financing, according to a recently posted SEC filing.

The stealthy Escondido, Calif.-based company is developing a new medication delivery technology to “remove the burden of daily injections” and compliment individual lifestyles, according to its website.

Modular Medical has not yet released any detailed information on its technology platform.

Money in the round came from 18 unnamed investors, with the first sale dated as having occurred on November 19 of last year.

The company is looking to raise an additional $2.8 million in the round, which would bring the total raised up to $7 million, according to the SEC filing.