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- Arcapita Co-Leads $15.5M Investment in RFID Company
- Cempra Pharmaceuticals Raises Additional $10M
- Inlet Technologies Raises $3M from Investors
- Chimerix Initiates Trial for Smallpox Infection Treatment
- SCYNEXIS Earns Milestone Payment from Collaborator Merial
- Targacept Receives $6M Payment from GSK, Begins Phase I Trial of Neuropathic Pain Treatment
- SC Launch! Receives $650,000 Grant from Progress Energy
- Optimal Technologies to Relocate Corporate HQ to Raleigh
Arcapita Co-Leads $15.5M Investment in RFID Company
Atlanta-based Arcapita Ventures (www.arcapita.com),
a venture capital firm and arm of Arcapita Bank, has co-led
a $15.5 million third round of financing for California-based
Intelleflex, a provider of radio frequency identification
(RFID) technology for commercial and industrial applications.
The investment deal was co-led by Motorola Ventures, the
strategic venture capital arm of Motorola, and included
participation from existing investors Morgenthaler Ventures,
Woodside Fund, Alloy Ventures, and Selby Venture Partners.
Arcapita Ventures is a CED member.
Cempra Pharmaceuticals Raises Additional $10M
Morrisville-based Cempra Pharmaceuticals (www.cempra.com),
a biotechnology company, has closed on $10 million in venture
funding from Intersouth Partners, Aisling Capital, Optimer
Pharmaceuticals Inc. and banker I. Wistar Morris III. The
company has proprietary chemistry technology related to
macrolides, which are antibiotics which combat a wide range
of bacterial infections. The two-year-old company has now
raised $24 million in financing from investors.
Intersouth Partners is a CED member.
Inlet Technologies Raises $3M from Investors
Raleigh-based Inlet Technologies (www.inlethd.com),
a developer of video encoding technology, has raised $3
million in new funding from existing investors including
Technology Venture Partners, Telecommunications Development
Fund and Capitol Broadcasting Corp. Inlet has developed
video technology which allows scaling from mobile video
to HD, for applications including video-on-demand; real-time
streaming; and digital archiving. Customers include HDNet,
Akimbo, CinemaNow and Microsoft Studios. The company will
use the funds to expand its marketing and sales efforts.
Inlet Technologies is a CED member.
Capitol Broadcasting Corp. is a CED member.
Chimerix Initiates Trial for Smallpox Infection
Treatment
Durham-based Chimerix (www.chimerix-inc.com),
a biotechnology company focused on developing orally available
antiviral therapeutics, has initiated a multi-dose trial
with its lead drug candidate, CMX001, an oral treatment
for smallpox infection. This trial will study the pharmacokinetics
and safety of three doses of the drug given to healthy volunteers.
CMX001 is being developed for the treatment of smallpox
infection and other double stranded DNA virus infections
that cause significant human morbidity and mortality. A
safe, orally active antiviral drug for smallpox is needed
to provide a means of treating people who become ill post
exposure to the disease or who cannot be vaccinated. The
work is partially funded by a $36.1 million grant awarded
to the company by the National Institutes of Allergy and
Infectious Disease.
Chimerix is a CED member.
SCYNEXIS Earns Milestone Payment from Collaborator
Merial
RTP-based SCYNEXIS (www.scynexis.com),
a drug discovery and development company, has received a
milestone payment as part of its multi-year research collaboration
with U.K.-based Merial which began in 2005. SCYNEXIS focuses
on medicinal chemistry, advanced biological screening, and
bioanalytical efforts towards Merial’s animal health discovery
efforts. Details of the payment were not disclosed.
SCYNEXIS is a CED member.
Targacept Receives $6M Payment from GSK, Begins
Phase I Trial of Neuropathic Pain Treatment
Winston-Salem-based Targacept (www.targacept.com),
a clinical-stage biopharmaceutical company, has initiated
a Phase I clinical trial of its product candidate TC-6499.
The initiation of the trial triggers a $6 million milestone
payment to the company under the terms of its agreement
with GlaxoSmithKline (GSK). TC-6499 is a small molecule
that Targacept plans to develop initially as a treatment
for neuropathic pain. The company anticipates that its Phase
I program for TC-6499 will include, in addition to the ongoing
single dose trial, a multiple rising dose trial. Under its
agreement with GlaxoSmithKline, Targacept is eligible to
receive an additional milestone payment if, following completion
of its Phase I program, Targacept determines to advance
TC-6499 into Phase II.
Targacept is a CED member.
GlaxoSmithKline is a CED member.
SC Launch! Receives $650,000 Grant from Progress
Energy
Charleston, SC-based SC Launch! (www.sclaunch.org),
a collaborative effort to facilitate applied research, product
development and commercialization programs, and strengthen
South Carolina’s “knowledge economy”, has received a $650,000
grant from Raleigh-based Progress Energy for the SC Launch!
Industry Partnership Fund, which invests in technology start-ups
in the state. SC Launch supplies entrepreneurs and researchers
with support for their companies with a mix of mentoring
and seed money of up to $200,000. In addition, SC Launch
provides matching grants of up to $100,000 for companies
awarded SBIR/STTR Phase I awards. SC Launch has provided
34 companies with seed funding in the form of grants, loans
or equity investments and provided counsel and support to
more than 60 startups.
SC Launch! is a CED member.
Progress Energy is a CED member.
Optimal Technologies to Relocate Corporate HQ
to Raleigh
Canada-based Optimal Technologies (www.otii.com),
a software and technology provider for electrical utilities
and consumers, will relocate its company headquarters to
Raleigh along with 325 new jobs and an investment of $2.4
million over the next three years. The State of North Carolina
provided Optimal with a $325,000 One North Carolina Fund
grant, which has also been matched in full by the City of
Raleigh. The company develops tools to help utilities, businesses
and consumers optimize their energy usage; its products
are designed to provide efficient, reliable and environmentally
responsible electricity grid.
The State of North Carolina is a CED member.
| 10/16 | Member-only Backyard Barbeque |
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| 10/28 | Entrepreneurs Only Workshop™: Start-Up to Public - The Targacept Story |