SmartCells Grabs $1.75M

Xconomy Boston — 

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.