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- Chelsea Therapeutics Raises $48.9 Million in Private Placement Deal
- Updata Partners Participates in $28 Million Investment in VA HHS Software Company
- Tranzyme Closes $20 Million Round of Funding
- LED Lighting Fixtures Raises $16.5 Million
- Piedmont Pharmaceuticals Raises $8.5 Million
- Chrysalis Ventures Invests $2.5 Million in VoIP Company
- Targacept Approves $2 Million License Agreement with AstraZeneca
- EMC2 Acquires Texas Software Company
- NC Ranks No. 1 in U.S. for Business Relocation and Expansion
- NCSU Centennial Campus Ranked No. 1 Research Science Park
- Hamner Institutes Receives $970,000 Grant
- Metastatix Receives FDA Approval to Start Phase I Clinical Trial on Tumor Treatment
- Addrenex, Sciele Begin Phase III Clinical Trials for ADHD Treatment
- BDSI Files New Drug Application for BEMA Fentanyl
- NC Biotechnology Center Grants $100K to Establish State’s First Center of Innovation
Chelsea Therapeutics Raises $48.9 Million in
Private Placement Deal
Charlotte-based Chelsea Therapeutics (www.chelsearx.com),
a biopharmaceutical development firm, has raised $48.9 million
through its previously announced private offering of stock.
Earlier this month, the company sold 7.4 million shares
of common stock at $6.62 per share. Ridgeback Capital Management,
LLC was the lead investor in the financing, along with several
other new and existing healthcare investors.
Chelsea Therapeutics is a CED member.
Updata Partners Participates in $28 Million Investment
in VA HHS Software Company
Reston, VA-based Harmony Information Systems (www.harmonyis.com),
a software company which provides products to the health
and human services sector, has closed on $28 million in
Series B equity and debt financing. The round was led by
existing investors JMI Equity and Updata Partners as well
as new investors ORIX Venture Finance and Comerica Bank.
The company will use the financing to expand its sales and
marketing team, develop new on-demand software solutions
and increase its consulting service offerings. The company
most recently merged with Burlington, VT-based Synergy Software
Technologies.
Updata Partners is a CED member.
Tranzyme Closes $20 Million Round of Funding
RTP-based Tranzyme Pharmaceuticals (www.tranzyme.com),
a biopharmaceutical company, has closed on $20 million in
venture capital financing. The investment was led by existing
investors H.I.G. Ventures; Thomas, McNerney & Partners;
Quaker BioVentures; and BDC Venture Capital. The funds will
be used to further clinical development of Tranzyme’s gastrointestinal
drugs. The company recently initiated two Phase IIb clinical
trials to test the efficacy and safety of its first product,
TZP-101, and in July 2007, the FDA granted TZP-101 fast-track
designation for treatment of severe gastroparesis.
Tranzyme is a CED member.
H.I.G. Ventures is a CED member.
LED Lighting Fixtures Raises $16.5 Million
Morrisville-based LED Lighting Fixtures (www.LLFinc.com),
a developer of LED light fixtures, has raised $16.5 million
in venture financing from Wexford Capital Fund. The company
develops LEDs for high-volume, general lighting applications
that offer lower energy and maintenance costs for consumers.
Piedmont Pharmaceuticals Raises $8.5 Million
Greensboro-based Piedmont Pharmaceuticals LLC (www.piedmontpharma.com),
a specialty pharmaceutical company focused on parasitology
and drug delivery systems for human and companion animal
use, has raised $8.5 million in Series B funding from Australia-based
CM Capital Investments and other investors. The funds will
help advance development of the company’s pipeline, including
the Phase III clinical trials of its patented, insecticide-free
head lice treatment. The company’s product, already available
in the U.K., Ireland and Canada, is awaiting FDA approval
for U.S. distribution.
Piedmont Pharmaceuticals LLC is a CED member.
Chrysalis Ventures Invests $2.5 Million in VoIP
Company
Louisville, KY-based Chrysalis Ventures (www.chrysalisventures.com),
a venture capital firm focused on early and expansion-stage
companies in the Southeast and Midwest, has invested $2.5
million in Charlotte-based SinglePipe, a provider of VoIP
services. Meritus Ventures also participated in the round.
This is the second round of financing raised by the company;
Chrysalis previously invested $4 million in SinglePipe in
early 2007.
Chrysalis Ventures is a CED member.
Targacept Approves $2 Million License Agreement
with AstraZeneca
Winston-Salem-based Targacept (www.targacept.com),
a biopharmaceutical company, has secured an option for AstraZeneca
to license Targacept’s product, TC-5619, a treatment for
cognitive disorders such as Alzheimer’s and schizophrenia.
The agreement calls for AstraZeneca to make a $2 million
payment to Targacept, which began Phase I clinical testing
on TC-5619 in July 2007. The drug is the lead product candidate
in Targacept’s alpha7 Neuronal Nicotinic Receptors program.
EMC2 Acquires Texas Software Company
RTP-based EMC2 (www.emc.com),
a developer and provider of information infrastructure technology,
has acquired Texas-based Voyence, a provider of network
configuration and change management solutions including
VoyenceControl, a product that helps organizations drive
down operational costs, increase availability, improve security,
and demonstrate regulatory compliance. Terms of the deal
were not disclosed. EMC2, which employs approximately 700
workers in RTP, says the acquisition will extend its position
in service management, a quickly growing segment of the
IT industry.
NC Ranks No. 1 in U.S. for Business Relocation
and Expansion
North Carolina was again ranked No. 1 for having the “Top
Business Climate” in the U.S., according to Site Selection magazine
(www.siteselection.com).
The State, which has held the top spot in this ranking for
six of the last seven years, was recognized as the top choice
for businesses to expand or relocate by real estate decision
makers and company executives for its strong academic and
research capabilities, trained workforce and high quality
of life. Georgia and Texas ranked second and third, respectively,
on the list.
NCSU Centennial Campus Ranked No. 1 Research
Science Park
Raleigh-based North Carolina State University’s (NCSU) Centennial
Campus (centennial.ncsu.edu),
a self-described “technopolis consisting of multi-disciplinary
R&D neighborhoods, with university, corporate, and government
facilities intertwined,” has been ranked the No. 1 “Research
Science Park of the Year” by the Association of University
Research Parks. The Campus, home to over 130 companies including
Linux software developer Red Hat, was recognized for its
innovation, technology partnerships and economic development.
NCSU Centennial Campus is a CED member.
Hamner Institutes Receives $970,000 Grant
RTP-based Hamner Institutes for Health Sciences (www.thehamner.org),
a nonprofit health and medicine research organization, has
been awarded a grant to analyze the effects of certain chemicals
and pesticides on human health. A portion of the funds,
$750,000 over a three-year period, will be used to develop
models that interpret data gathered to monitor the effects
of certain pesticides. The remaining $220,000 is designated
for the discovery of how exposure to chemicals affects the
bloodstream or tissue. The grant came from the U.S. Environmental
Protection Agency.
The Hamner Institutes is a CED member.
Metastatix Receives FDA Approval to Start Phase I Clinical
Trial on Tumor Treatment
Atlanta-based Metastatix (www.metastatix.com),
a drug development company, received approval from the FDA
to launch Phase I clinical testing of MSX-122, a drug to
treat tumors. The company, founded in 2005, focuses on treatments
for HIV and cancer. In October 2007, the company closed
a $35 million Series B round of funding from Frazier Healthcare
Ventures, H.I.G. Ventures, The Aurora Funds, CM Capital,
SR One, MedImmune Ventures, Georgia Venture Partners, Centrosome
Ventures and the State of Georgia.
Metastatix is a CED member.
Addrenex, Sciele Begin Phase III Clinical Trials
for ADHD Treatment
Durham-based Addrenex Pharmaceuticals (www.addrenex.com),
a pharmaceutical company, along with Atlanta-based Sciele
Pharma, Inc., has initiated patient enrollment for Phase
III clinical trials for Clonicel, a treatment for attention
deficit and hyperactivity disorder (ADHD) in children. Sciele
entered into an exclusive licensing agreement with Addrenex
in July 2007 to market the drug.
Addrenex is a CED member.
BDSI Files New Drug Application for BEMA Fentanyl
Morrisville-based BioDelivery Sciences International (BDSI)
(www.bdsinternational.com),
a pharmaceutical company, announced it has filed a new drug
application with the FDA for its BEMA Fentanyl. An FDA decision
to approve for deny the company’s request is expected by
August 2008, the estimated time for which all stages required
by the regulatory agency would be complete. The drug is
a pain treatment for cancer patients who experience severe
discomfort above and beyond the chronic pain associated
with the disease. Under terms of a previous commercialization
partnership with Sweden’s Meda AB, BDSI stands to earn a
$30 million milestone payment from Meda if the drug is approved
for clinical use by the FDA. The company expects the drug
to generate revenues of at least $250 million in the U.S.
alone.
NC Biotechnology Center Grants $100K to Establish
State’s First Center of Innovation
RTP-based North Carolina Biotechnology Center (www.ncbiotech.org),
a non-profit corporation established by the N.C. General
Assembly to support biotechnology research, business and
education, has granted $100,000 to a consortium from the
Piedmont Triad region of N.C. to establish the state’s first
Center of Innovation (COI). The Center is intended to focus
on the emerging field of nanobiotechnology. The grant will
be used to develop a business plan in preparation for a
future Phase 2 grant request; it is the first step at establishing
the Piedmont Triad as a research hub for products and processes
using these very small particles, which are being used more
and more frequently for scientific discovery. The consortium
includes North Carolina Agricultural and Technical State
University, the University of North Carolina at Greensboro
and Wake Forest University; the funds will be administered
by the Piedmont Triad Partnership, a non-profit 12-county
economic development corporation.
NC Biotechnology Center is a CED member.
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