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Chesson Labs raises $3.3 million
Chesson Laboratory Associates (www.chessonlabs.com), a Durham company working on a liquid bandage and products to treat bites, stings and nail fungus, raised $3.3 million from angel investors. The company plans to continue developing products in key strategic healthcare markets.

Chesson Laboratory Associates is a CED member.

http://techjournalsouth.com/news/article.html?item_id=4888

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RFMD buys back shares, acquires UK company
Greensboro-based wireless chip-maker RF Micro Devices (www.rfmd.com) bought back about 10 percent of its outstanding shares in $150 million buy-back transaction. As of February 29, the company had repurchased about 30 million shares at an average price per share of $3.27. That reduces the total number of RF Micro shares outstanding by about 10 percent to 262 million shares. RFMD also completed its acquisition of Filtronic Compound Semiconductors Ltd, a wholly owned subsidiary of Filtronic PLC based in England, for approximately £12.5 million.

http://feeds.bizjournals.com/~r/bizj_triad/~3/245570279/daily15.html
http://carolinanewswire.com/news/News.cgi?database=01news%2edb&command=viewone&id=1495&op=t

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Hamner Institutes awarded jet fuel research grant
RTP’s Hamner Institutes for Health Sciences (www.thehamner.org), a nonprofit specializing in health sciences research, received a $655,367 contract from the Navy Health Research Center Environmental Health Effects Laboratory Detachment. The fund will underwrite an inhalation toxicity study on a new jet fuel called Syntroleum S-8.

www.ncbiotech.org/news_and_events/industry_news/hamner_jet_fuel_mar08.html

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Pfizer buying Durham-based Serenex
Pfizer Inc. has agreed to buy venture-backed Serenex Inc. (www.serenex.com), a Durham biotechnology company developing inhibitors of a protein involved in cancer, inflammatory and neurodegenerative diseases. The deal is expected to close in the second quarter. Serenex has raised about $81 million in venture backing.

Serenex Inc. is a CED member.

http://techjournalsouth.com/news/article.html?item_id=4885

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Motricity moving headquarters
Durham-based Motricity (www.motricity.com), a seller of mobile content infrastructure services, announced it will cut its workforce by 250 in the next nine months and move its headquarters to Bellevue, Wash., to be closer to some of its largest customers. The changes follow the company’s acquisition of InfoSpace Mobile and reflect its new strategic operating plan. The company has raised $350 million in venture backing.

Motricity Inc. is a CED member.

http://techjournalsouth.com/news/article.html?item_id=4899

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Piedmont Healthcare Management sold to Georgia company
Anodyne Health (www.anodynehealth.com), seller of healthcare business intelligence software and revenue cycle services, acquired Charlotte-based Piedmont Healthcare Management Group (www.phmg.net). Anodyne, based in Alpharetta, Ga., and Portland, Me., is backed by investments from Wakefield, Mass.-based Brook Venture Partners and Charlotte-based Frontier Capital.

http://techjournalsouth.com/news/article.html?item_id=4913

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TransTech Pharma acquires Novo Nordisk programs
TransTech Pharma, Inc. (www.ttpharma.com), a clinical-stage pharmaceutical company in High Point, acquired all rights to a portfolio of drug candidates being developed to treat metabolic disorders from Novo Nordisk (www.novonordisk.com). Novo Nordisk selected TransTech to develop three programs based on its prior success working closely with the company on novel drug development.

http://carolinanewswire.com/news/News.cgi?database=01news%2edb&command=viewone&id=1619&op=t

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Metabolon announces third-generation metabolomics platform
Metabolon, Inc. (www.metabolon.com), launched a third-generation metabolomics platform that powers its mVision global biochemical profiling service and its diagnostic product development. This platform gives the Durham-based diagnostics and services company greater speed and resolution for the discovery of biochemical markers from numerous chemical classes and various sample matrices.

Metabolon is a CED member.

http://carolinanewswire.com/news/News.cgi?database=01news%2edb&command=viewone&id=1674&op=t

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Cree acquires LED Lighting Fixtures
Cree, Inc. (www.cree.com), LED solid-state lighting company in Durham, has bought privately held LED Lighting Fixtures, Inc., for more than 1.8 million shares of common stock and about $16.45 million in cash. An additional $26.4 million could be paid over the next three years in accordance with new product milestones and key employee retention. Cree's business now encompasses LED chips, components and lighting solutions.

http://www.sslighting.net/documents/view/cldoc.php?id=9760

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Events Update

7/15 Entrepreneurs Only Workshop™:Define Your Total Addressable Market
7/17 Information Session For Prospective Members
7/30 Medtech Forum: How To Achieve A Therapeutic Valuation For A MedTech Company

 

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