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Trimeris Raises $102M in Stock Offering


Durham-based Trimeris announced that its public offering of stock proved to be a swift success, raising $102.4 million, with a sale of 2.4 million common shares at a price of $45.25. The offering was announced Sept. 27. The company said net proceeds from the offering are expected to be used to fund the clinical development and commercialization of Trimeris's drug candidates, FuzeonTM (enfuvirtide, formerly known as T-20) and T-1249, to fund research and development, to provide working capital, and for general corporate purposes. www.trimeris.com

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Golden LEAF Invests $40M in Two N.C. VC Funds


As part of its mission to help tobacco-dependant areas of North Carolina diversify into other industries, Rocky Mount-based Golden LEAF, which is funded by tobacco litigation settlement money, has invested $40 million in two technology-oriented venture capital funds in the state. Durham-based Catalysta Ventures, a consulting firm for venture-backed companies, is managing a new biotechnology investment fund called BioVista, which received $30 million of the Golden LEAF funds. The BioVista fund is expected to raise an additional $90 million from other investors and will focus on biotech companies planning to build manufacturing plants. The Aurora Funds, a venture capital firm that is also based in Durham and focuses on biotech and information technology investments, received the other $10 million in Golden LEAF funds. www.goldenleaf.org, www.catalystapartners.com, www.aurorafunds.com

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IBM Completes $3.5 Billion Acquisition of PwC Consulting


IBM, RTP's largest employer of technology workers, has completed its $3.5 billion cash and stock acquisition of PricewaterhouseCoopers' PwC Consulting business unit. About 200 of PwC's 1,200 consulting partners have been let go by IBM, the Wall Street Journal reported. In connection with the acquisition, IBM has formed a new business unit, IBM Business Consulting Services, which includes 30,000 existing IBM employees and 30,000 employees transferring from PwC Consulting. www.ibm.com

Trainersoft and Boston's OutStart Merge


OutStart, headquartered in Boston and provider of the leading content-centric learning platform, announced it has signed a definitive agreement to merge with Raleigh-based Trainersoft, a ten year veteran in the e-learning industry with approximately 5,000 clients, including 35% of the Fortune 500. Trainersoft is the leading provider of easy-to-use authoring tools for e-learning content. OutStart will integrate Trainersoft's capabilities with its current offerings to provide the only product family that meets the diverse needs of developers, workgroups, and the enterprise. The merged company will operate under the name OutStart. www.trainersoft.com, www.outstart.com

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Paradigm Genetics, Inc. Awarded $23.8M


RTP-based Paradigm Genetics, Inc. announced that it has been awarded a five-year toxicogenomics contract of up to $23.8 million by the National Institute of Environmental Health Sciences. The contract is focused on determining how toxicants work and cause damage at the cellular level. The research may result in better methods of risk assessment and compound optimization for both the pharmaceutical and agricultural chemical industries. The National Center for Toxicogenomics defines toxicogenomics as a scientific field that seeks to understand how the entire genome is involved in biological responses of organisms exposed to environmental stresses or toxicants. www.paradigmgenetics.com

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N.C. State Expects $13M to Establish NASA Aerospace Institute


NASA has selected N.C. State University in Raleigh as one of five universities to establish a new research institute for supporting aerospace science and training. The university expects to receive about $13 million in NASA funds over the next five years to participate in the new National Institute of Aerospace. N.C. State faculty members will participate in research efforts in Raleigh and at NASA's Langley Research Center in Virginia, investigating subjects such as better materials for future aircrafts and the cause of ozone damage in the atmosphere. The university will also create research partnerships with companies such as Charlotte-based Goodrich, a developer of aerospace technology. www.ncsu.edu

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Survey: N.C. No. 2 in Business Climate


The Business Journa

l reported on Sept. 24 that North Carolina has the second most favorable business climate in the United States, according to a new survey of 287 senior-level corporate executives. North Carolina garnered a 20 percent favorable rating from business leaders surveyed by Development Counsellors International Ltd., a New York-based marketing firm. Texas, with a 25 percent favorable rating, has the most favorable business climate in the United States, the survey said. South Carolina, Florida, and Georgia rounded out the top five. California took the biggest drop on the charts of favorable business locations. From a No. 2 positive ranking in the previous survey, conducted in 1999, California no longer rates among the top five states and garnered a negative rating of 57 percent. California, New York, and Massachusetts had the least favorable ratings in the survey. Survey participants included presidents, CEOs, vice presidents, and senior corporate real estate executives at companies with annual sales exceeding $100 million. Results of the survey were announced at a meeting of the International Economic Development Council in Oakland, CA. www.bizjournals.com

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Roberson Receives Lifetime Achievement Award


The International Economic Development Council has presented James Roberson of the Research Triangle Foundation with the International Edward deLuca Lifetime Achievement Award. This award was given out at IEDC's annual conference in Oakland. The Edward deLuca Lifetime Achievement Award for Professional Excellence in Economic Development recognizes an individual who consistently has exemplified the highest standards of professional excellence throughout his or her career in the economic development field, according to the council. Roberson has served as president and chief executive officer of the Research Triangle Foundation of North Carolina since 1988. www.rtp.org

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ICAgen Inc.'s Sickle Cell Treatment Put on FDA's Fast-Track


RTP-based ICAgen Inc., a privately held drug discovery company, said that its treatment of sickle cell anemia has received fast-track designation from the Food and Drug Administration. The FDA's fast-track program is intended to expedite the development and review of new drugs that are designed to treat serious or life-threatening conditions, and that demonstrate the potential to address unmet medical needs. www.icagen.com

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Events Update


November 7th — CED Information Session for Prospective Members

November 11th — Biotech Forum

November 13th — CED Capital Connection Information Session

November 14th — New Member Orientation

November 14th — Healthcare Technology Forum

November 15th — CFO Roundtable

November 16th — Innovator's Quarterly Workshop

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