Publicly traded OptimizeRX Corp. (OTCBB: OPRX) has raised $3 million in equity and options, according to a filing with the Securities and Exchange Commission.
The company operates a Web site that offers prescription drug coupons and rebates to subscribers. It then offers that subscriber data to drug companies and other healthcare marketers. The company operates another site, SampleMD.com, that’s marketed toward physicians and offers coupons and vouchers for samples of prescription drugs.
The fundraise comes from a single investor, with the sale occurring on June 4, according to the regulatory document.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
From its inception through Dec. 31, 2009, the company had generated about $211,000 through advertising and use of its database. During that same period, it incurred operating costs of nearly $5 million, according to its most recent annual report.
In 2008, the company received an equity investment of $3.5 million from Vicis Capital, a hedge fund started by a former Lehman Brothers trader that the company used for working capital. Earlier this year, Vicis began winding down after it received too many requests for redemptions, according to a report.
As of Jan. 30, OptimizeRX had four full-time employees, according to the annual report.
The company formed in 2006 and launched its Web site in 2007. A company official didn’t immediately return a call.
