Regional News

Don't miss our other news sources!

Nobex Raises $35M in Venture Capital


On the heels of a newly formed strategic alliance with GlaxoSmithKline, RTP-based Nobex Corp., a drug development company, has raised $35 million in its sixth round of venture capital. The investment was led by AEA Investors and included EndPoint Late Stage Fund, HealthCap and a group of Taiwan-based venture capital firms. Nobex formed its partnership with GlaxoSmithKline in May to develop oral insulin products. The company also has several other drug candidates in development, including a treatment for osteoporosis that is expected to enter Phase II clinical studies later this year. www.nobexcorp.com

[return to top of EntreNews]

Charlotte's V3 Systems Gets $11.5 Million


Charlotte-based V3 Systems, provider of enterprise supply chain execution and warehouse management applications for automating business processes and providing supply chain visibility across global distribution networks, received $11.5 million in a Series A private placement. Sterling Venture Partners led the round with Draper Atlantic Management, SpaceVest, and Updata Venture Partners all participating in the syndicate. Funding will be used for marketing, sales, development and deployment. www.v3systems.com

[return to top of EntreNews]

Trinity Convergence Raises $4.5M in Second Round


Raleigh-based Trinity Convergence Inc., a developer of voice-over-Internet software for telecommunications equipment manufacturers, has received $4.5 million in Series B funding. Co-led by Core Capital Partners, Intersouth Partners and Mid-Atlantic Venture Funds, Trinity will use the capital to accelerate sales and marketing efforts. In addition, the company will continue technology development, including its flagship VeriCall™ software. Trinity Convergence's software provides equipment manufacturers with development cost savings and the ability to preserve their intellectual property. www.trinityconvergence.com

[return to top of EntreNews]

ParinGenix Gets $4M Series A


Charlotte-based ParinGenix, an early-stage drug development spin-off from Carolinas Medical Center, raised $4 million in Series A round funding to develop its proprietary PGX-100 pharmaceutical technology. Lead investors are Academy Funds of Charlotte, Research Corporation Technologies (RCT) of Tucson, Ariz., and A.P. Kennedy Family Securities of Madisonville, La. The company also announced it has named Jeffrey Jacob as chairman and CEO.

[return to top of EntreNews]

AvidXchange Raises $1.8 Million of Venture Capital


Concord-based AvidXchange, a developer of web-based purchasing tools for the real estate industry, has raised $1.8 million in a second round of venture capital led by CT Communications and Charlotte Angel Partners. AvidXchange's software helps commercial and multi-family real estate companies strengthen relationships with their preferred suppliers, while reducing operating costs and eliminating paperwork. AvidXchange employs about 17 people and plans to open sales offices in New York and Chicago soon. The company's technology development, administrative and customer support operations are based in Concord. Its customers include The Mills Corp., CarrAmerica and Cousins Properties. AvidXchange is a past participant of CED's STREAK program and a past presenter at the Capital Connection luncheon. www.avidxchange.com

[return to top of EntreNews]

TogetherSoft to Acquire Studio Product Suite from WebGain


Raleigh-based TogetherSoft, a provider of collaboration software and services for enterprise application development, said it plans to acquire the WebGain Studio product suite from e-business automation software firm WebGain. Financial terms of the deal were not disclosed. As part of the proposed agreement, TogetherSoft intends to take over full support for current WebGain Studio customers. TogetherSoft also will provide an integration package, offering WebGain Studio customers the opportunity to migrate to TogetherSoft's award-winning application development environment. Customers will be directed from WebGain's Web site to www.togethersoft.com for continued support and maintenance, in addition to upgrade options. www.togethersoft.com

[return to top of EntreNews]

Triangle Pharmaceuticals Names New President and CEO


Daniel Welch, a former executive at Elan Corporation, was recently named the new president and chief executive officer at Triangle Pharmaceuticals (Nasdaq: VIRS). Welch previously served as president of biopharmaceuticals at Elan. Welch replaces the late Dr. David Barry, the company founder who died earlier this year of a heart attack. Triangle is a specialty pharmaceutical company engaged in the development of new antiviral drug candidates, with a particular focus on therapies for the human immunodeficiency virus (HIV) and the hepatitis B virus. The company also recently announced that it had acquired full rights to Coviracil and other experimental drugs from Abbott Laboratories, ending a partnership with that company. www.tripharm.com

[return to top of EntreNews]

r+m creative Receives Design Recognition


Cary-based r+m creative, a strategic marketing and design agency, has received one of the country's most coveted graphic design recognitions. PRINT magazine, a leading graphic design publication, named r+m a winner in its Regional Design Annual, a designation recognizing the agency's design of a fundraising booklet for the Pope House Museum Foundation. This year, PRINT has itself received the highest award given by the National Magazine Association - the award for General Excellence. r+m creative's Pope House design work will appear in PRINT's Regional Design Annual 2002. www.rmcreative.com

[return to top of EntreNews]

Events Update


August 22nd — FastTrac Information Session

August 23rd — EntreForum: Keep Them Drinking the Kool-Aid - the Importance of Corporate Culture

August 27th — HR Roundtable - Employee Development Programs

August 27th — Marketing Roundtable - Marketing Your Marketing: Getting Buy-In from Your Executive Team

August 28th — CEO Roundtable - Managing to Increase Sales

August 29th — FastTrac Information Session

[return to top of EntreNews]