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Metabolon Closes $9 Million Series A
RTP-based Metabolon, Inc. (www.metabolon.com) has raised an additional $5 million to close its $9 million Series A round. Metabolon raised an initial $4 million in July 2004, led by The Aurora Funds (Durham, NC), with participation from The Trelys Funds (Columbia, SC), Alexandria Real Estate Equities and other investors. This additional $5 million was led by Sevin Rosen Funds (Palo Alto, CA), with participation by the existing investors.

In connection with the financing, John Oxaal, general partner at Sevin Rosen Funds, will join the Board of Directors at Metabolon. With the additional funding, Metabolon officials said they will strategically invest in technological advancements and business development. Metabolon presented to investors at CED's Venture 2004 conference last April.

Metabolon is a CED member.
The Aurura Funds is a CED member.
The Trelys Funds is a CED member.

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IBM to Acquire Systemcorp
IBM (www.ibm.com), which has a significant presence in the RTP, has signed a definitive agreement to acquire Systemcorp ALG Ltd., a privately held company based in Montreal, Canada. Financial terms were not disclosed. The acquisition is expected to close within 30 days.

Following the completion of the acquisition, Systemcorp's operations will be integrated into IBM's Rational software development business, and its products will be available from IBM within 30 days of completion of the acquisition. Systemcorp is a provider of Project Portfolio Management (PPM) software that provides organizations with a view of IT projects across the enterprise. IBM Rational plans to integrate Systemcorp's technology into the IBM Software Development Platform.

IBM is a CED member.

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Asheville's IQue to Acquire Safeguard Security Holdings
Asheville-based IQue Intellectual Properties, Inc., has entered in to a letter of intent to acquire Texas-based Safeguard Security Holding, Inc., a security staffing company with 683 employees and annual revenues exceeding $24 million. Company officials expect the formal purchase agreement to be executed prior to November 15, 2004.

IQue is broadcast engineering, design and manufacturing company with solutions for streaming media content on the Web. IQue Intellectual Properties, Inc. is publicly traded company via OTC Pink Sheets under the symbol IQIP.

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MCNC-RDI and N.C. A&T Team Up on $1.5 Million Project for U.S. Army
MCNC Research & Development Institute (www.mcnc-rdi.org) has received approval from the U.S. Army Research Office to partner with North Carolina Agricultural and Technical State University (N.C. A&T) to conduct research related to technological advancements in flexible displays for U.S. Army mobile electronics applications. The three-year, $1.5 million award establishes the Center of Excellence for Battlefield Capability Enhancements, which will focus on developing technologies for environmentally stable flexible displays.

MCNC-RDI and N.C. A&T plan to develop a hybrid light-emitting device (HLED) to enable a superior display technology for mobile electronics and vehicle-based communications and weapons systems to support soldiers, according to MCNC reports. The technology will be used to create electronics that are more portable and better able to withstand environmental conditions, enabling a more efficient and reliable flow of information on the battlefield.

MCNC-RDI is a CED member.

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Trimeris' FUZEON Receives Traditional FDA Approval
Durham-based Trimeris, Inc. (Nasdaq: TRMS, www.trimeris.com) and its partner Roche announced that the FDA has granted traditional approval to the drug FUZEON, the first and only fusion inhibitor for the treatment of HIV. The FDA granted accelerated approval to FUZEON on the basis of 24-week data in March 2003; accelerated approval is a special regulatory status designed to expedite the approval of therapies for serious or life-threatening illnesses which provide meaningful benefit to patients over existing treatments. The traditional approval of FUZEON was based on results from Phase III clinical trials over 48 weeks which confirmed the durable efficacy and safety of FUZEON-based regimens, according to company reports.

This traditional approval of FUZEON further validates the drug's role as a viable option for treatment-experienced HIV patients, according to experts and company officials. FUZEON in combination with other antiretroviral agents is indicated for the treatment of HIV-1 infection in treatment-experienced patients with evidence of HIV-1 replication despite ongoing antiretroviral therapy.

Trimeris is a CED member.

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PowerByHand Joins Microsoft Mobility Partner Advisory Council
Durham-based PowerByHand (www.powerbyhand.com), a provider of mobile content and solutions, has accepted an invitation to become a member of the Microsoft Mobility Partner Advisory Council (MPAC), developed by Microsoft Corp. to establish synergies among leading industry partners. MPAC's goal is to accelerate the introduction of mobile solutions to the market. PowerByHand owns PocketGear.com and Smartphone.net, two of the leading sources for Windows Mobile-based software applications.

Mobility Partner Advisory Council (MPAC) is an invitation-only program developed by Microsoft to empower partners to create software solutions for Windows Mobile-based devices. As a member, PowerByHand will provide feedback to Microsoft based on its experience and success in provisioning and distributing Windows Mobile content. PowerByHand will also gain access to other MPAC (members), key Microsoft mobility experts, dedicated technical support and exclusive marketing programs.

PowerByHand is a CED member.

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Hatteras Networks Inks Deal with Expedient to Expand Metro Ethernet Services
RTP-based Hatteras Networks (www.hatterasnetworks.com), a provider of high-bandwidth Ethernet access and service platforms, has inked a deal with Pennsylvania-based Expedient, a Metro Ethernet Connectivity and Managed IP service provider. Under the terms of the deal, Expedient will use Hatteras Networks' Metro Ethernet Copper Access (MECA) solution to expand Expedient's fiber-based Metro Ethernet services to copper-fed businesses.

Expedient will “rapidly turn up” Ethernet over copper services in Pittsburgh, PA, Erie, PA, and Cleveland, OH, by the end of the year and expand to all 20 of their current markets in 2005, according to company reports. Deploying Hatteras Networks' platforms gives Expedient the tools to enhance speed and flexibility, and also reduce the costs and complexity of Ethernet service.

Hatteras Networks is a CED member.

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Milken Report: Biotech Jobs in North Carolina to Increase 30 Percent Over Next Decade
A recent report from the Milken Institute (www.milkeninstitute.org) estimated that North Carolina will increase its biotechnology-related workforce by nearly 30 percent over the next decade. The report, “Biopharmaceutical Industry Contributions to State and US Economies,” ranked each state according to a complex index of funding, workforce, and productivity, among other measures. Leading the index were Massachusetts (85.8), Maryland (82.3), Connecticut (81.1), New Jersey (79.8), Pennsylvania (75.44), and California (75.32). North Carolina ranked seventh with a score of 74.95.

Milken forecasted that North Carolina will have 32,038 workers a decade from now. The state currently employs 25,482 with 127,692 jobs in all “impacted” by the biotech sector, according to the Milken Institute. Georgia and South Carolina will also add workers, but neither state has nearly the existing base as does North Carolina. Georgia's workforce is expected to increase to 4,142 from 3,964. South Carolina now employs 1,604 and that number is expected to climb to 2,242. The biotech industry employs 413,000 nationally, and that total should hit 536,000 over the next decade, Milken officials reported.

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Events Update

October 18 — Biotechnology Forum
October 20 — Technology Forum “Game Night”
October 30 — Entrepreneur '04