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- BluePhoenix Raises $35 Million in Private Stock Placement
- Oriel Therapeutics Raises $26.5 Million in VC Funding
- Southern Capitol Ventures Participates in $4 Million Series B Round for Baltimore Company
- Inspire Launches Phase III Clinical Trials for Nasal Spray
- NCSU Virtual Computing Lab Accepts $2.4 Million Gift from Intel
- Duke, NCSU Scientists Garner Photonics Consortium Grants
- FDA, Duke Collaborate on Clinical Trials Modernization
BluePhoenix Raises $35 Million in Private Stock Placement
Cary-based BluePhoenix (www.bphnx.com), a software company which helps companies update software and networking infrastructure, has raised approximately $35 million in a private stock placement. The Company plans to retire approximately $32 million in existing debt, and net proceeds remaining after the retirement of the debt will be used for general corporate purposes. The net effect of retiring the debt is the elimination of around $2.3 million in annual interest payments.
Oriel Therapeutics Raises $26.5 Million in VC Funding
RTP-based Oriel Therapeutics (www.orieltherapeutics.com), a drug development company, has closed on $26.5 million in Series C financing led by New Leaf Venture Partners of New York and California. The company has received several patents for its technology of drug delivery through inhalers. The company, founded in 2002, uses technology that was first developed at the University of North Carolina at Chapel Hill.
Oriel Therapeutics is a CED member.
Southern Capitol Ventures Participates in $4 Million Series B Round for Baltimore Company
Raleigh-based Southern Capitol Ventures (www.southerncapitolventures.com), a venture capital firm, has participated in a $4 million round of Series B funding for DoublePositive Marketing Group, a Baltimore sales lead company. Other investors in the round include Hamilton Investment Partners of New York and Slate Venture Group of Maryland; existing investors include The Grosvenor Funds of Washington, D.C., and WWC Capital Group of Reston, Va. DoublePositive has developed a way to generate real-time Internet sales leads; it compiles data from online advertising to generate most of its leads.
Southern Capitol Ventures is a CED member.
Inspire Launches Phase III Clinical Trials for
Nasal Spray
Durham-based Inspire Pharmaceuticals (www.inspirepharm.com),
a biopharmaceutical company, has launched Phase III clinical
trials of epinastine, a proposed nasal spray for treatment
of allergies. The testing is designed to determine the efficacy
of the spray to affect runny nose, itchy nose and sneezing
as well as other symptoms. Results of the trials are expected
in the second quarter of 2008. The company licensed rights
to the drug from Boehringer Ingelheim International GmbH
in 2006.
Inspire Pharmaceuticals is a CED member.
NCSU Virtual Computing Lab Accepts $2.4 Million
Gift from Intel
Raleigh-based North Carolina State University (www.ncsu.edu)
has accepted a major contribution to its Virtual Computing
Lab (vcl.ncsu.edu)
from computer processor giant Intel. The company has donated
$2.4 million to the Lab for the purchase of equipment. The
Lab is designed to bring affordable computing resources
to K-12 schools, community colleges and universities throughout
the state of North Carolina. Lab partners include East Carolina
University; North Carolina Central University; University
of North Carolina (UNC) Greensboro; UNC Chapel Hill; Duke
University; NCSU College of Engineering, Information Technology
Division, and Friday Institute/College of Education; IBM
Corporation; Intel; NetApp; SAS Institute; and Sun Microsystems.<
NCSU is a CED member.
Duke, NCSU Scientists Garner Photonics Consortium
Grants
North Carolina-based Carolinas Photonics Consortium (www.carolinasphotonics.com),
the nation’s largest concentration of photonics-based resources,
has awarded two scientists each $10,000 towards the development
and commercialization of their research. Duke University’s
Quincy Brown plans to develop a non-invasive, quick way
to examine potentially cancerous breast tissue. North Carolina
State University’s (NCSU) Mike Fiddy is looking to improve
the way power is delivered to devices such as surgical and
industrial tools.
Carolinas Photonics Consortium is a CED
member.
NCSU is a CED member.
FDA, Duke Collaborate on Clinical Trials Modernization
Durham-based Duke University (www.duke.edu)
and the U.S. Food and Drug Administration have formed a
public-private partnership which will include representation
from government, industry, patient advocacy groups and academia
to study ways to modernize clinical trials. The two entities
are working together to develop new standards, methods and
technologies to improve safety; boost the quality of information
from clinical trials; and make clinical research more efficient.
The collaborations is intended to create new national standards
for clinical trials; establish accreditation programs for
clinical investigators and research centers; and improve
information management through technology.
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