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AGTC Announces $6 M Phase One Investment


Applied Genetic Technologies Corporation (AGTC), a gene therapy company located in Alachua, Florida, recently announced the completion of phase one venture funding of $6 million from PrimBio Tech, SAS, of Paris, France. One of the company's founders is Dr. R Jude Samulski, director of the Gene Therapy Center at UNC-Chapel Hill. The investment will be used by AGTC to complete pre-clinical toxicology studies and Phase I Human Clinical Trials for its gene therapy treatment for emphysema. AGTC has licensed from the University of Florida a portfolio of strategically vital, and patent protected, intellectual property in the application of the Adeno Associated Virus (AAV) to functional genomics and gene therapy, including patents on AAV vector applications in several tissue types. www.biotech.ufl.org.

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A. M. Pappas Raising Another $25 M


A. M. Pappas & Associates is gearing up to raise $25 million for an investment fund that would target small, publicly traded life sciences companies nationwide and. The fund is called Emerging Life Science Equities III. In June, the Research Triangle-based firm closed a $102 million fund, called TechAmp II, targeted at life science startups. www.ampappas.com

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Wake Forest and Virginia Tech Join Forces in Biomedical Engineering


Virginia Tech and Wake Forest University officials recently announced the two schools will jointly operate a biomedical engineering and science school. The Virginia Tech-Wake Forest University School of Biomedical Engineering and Sciences is expected to sponsor collaborative research and offer advanced degrees in biomedical engineering. It will have classes at both campuses. "This is a natural partnership between Virginia Tech, with no human medical school, and Wake Forest, with no engineering school," said Virginia Tech President Charles W. Steger. Elaine Scott, director of Virginia Tech's Center for Biomedical Engineering who proposed the program, said she expects about 80 students to join within five years.

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Red Hat Proposes to Enhance Microsoft Settlement Offer


Open source-leader Red Hat, Inc. is proposing to provide open source software to every school district in the United States if Microsoft provides computing hardware for the 14,000 poorest school districts. Red Hat (Nasdaq:RHAT) proposed an alternative to the settlement recently announced of the class-action lawsuit against Microsoft. Red Hat offered to provide open-source software to every school district in the United States free of charge, encouraging Microsoft to redirect the money it would have spent on software into purchasing more hardware for the 14,000 poorest school districts. Under the Red Hat proposal, by removing Microsoft's higher-priced software from the settlement equation, Microsoft could provide the school districts with many more computers - greatly extending the benefits Microsoft seeks to provide school districts with their proposed settlement. Red Hat is headquartered in Durham, NC. www.redhat.com

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Paradigm and StemCo Announce Stem Cell Research Collaboration


Paradigm Genetics, Inc. (Nasdaq: PDGM) and StemCo BioMedical, Inc. recently announced a research collaboration for the biochemical profiling of adult human stem cells. Under the terms of the agreement, Paradigm will use its proprietary metabolomics technology platform, MetaVantageTM, to elucidate the biochemical profiles of adult stem cells supplied by StemCo, and will use the generated biochemical profiles to identify all of the small molecules present in the cells. Paradigm will retain all intellectual property rights to any discoveries related to the biochemical profiles and the compounds themselves, which Paradigm believes will have significant value for drug discovery and development. StemCo will retain rights related to the studied stem cells themselves for diagnostic or therapeutic purposes. Financial details were not disclosed. www.paragen.com

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Events Update




November 27th — Marketing Roundtable: Marketing to Your International Customers

November 27th — HR Roundtable: Developing Your Employee Compensation Package

November 28th — CEO Roundtable: Defining Your Market

November 30th — Capital Connection Application Deadline

December 6th — EntreForum: Exploring New Business Opportunities

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