[IEEE-bhpjobs] Fwd: CED's Venture Update: Who's Investing in What in the Triangle and North Carolina, August 2007

[Esther Lumsdon]

---------- Forwarded message ----------
From: Council for Entrepreneurial Development <mailer at cednc.org>
Date: Thu, 2 Aug 2007 05:19:13 UT
Subject: CED's Venture Update: Who's Investing in What in the Triangle and
North Carolina, August 2007
To: estherlist at gmail.com

    *Opportunity 2007 <http://www.cednc.org/opportunity>*
*September 10-11, 2007*
SunSpree Resort
Wrightsville Beach, N.C.




Venture Update Vol. XI, #8, August 2007


   - Done Deals <#11425eb6760bf05d_deals>
   - On the Up <#11425eb6760bf05d_up>
   - New Developments <#11425eb6760bf05d_new>
   - In the Pipeline <#11425eb6760bf05d_pipeline>
   - Mark Your Calendar <#11425eb6760bf05d_mark>

 Done Deals

*Cary – R.H. Donnelley Corporation* (www.rhd.com), a Yellow Pages and online
local commercial search company, has signed a definitive agreement to
acquire *Business.com* for *$345 million*. Through this transaction, R.H.
Donnelley will add to its existing interactive portfolio a rapidly growing
and profitable business-to-business company, with online properties that
include Business.com, Work.com and the Business.com Advertising Network.
Contact Tyler D. Gronbach (919.297.1541).

*Durham – Inspire Pharmaceuticals, Inc.* (www.inspirepharm.com), a
biopharmaceutical company, has entered into a securities purchase agreement
with *Warburg Pincus* for the sale of *$75 million* of exchangeable
preferred stock. Inspire plans to use the funding from the transaction to
fund AzaSite commercialization and several Phase III development programs.
Some of the funding will also go towards working capital and general
corporate purposes. Contact Jenny Kobin (919.941.9777).

*Wilmington – TranS1, Inc.* (www.trans1.com), a medical device company
focused on minimally invasive surgical procedures to treat lower back pain,
has filed a Form S-1 registration statement with the Securities and Exchange
Commission for its proposed initial public offering share of its stock. The
number of shares that will be offered and the price at which they will be
sold is yet to be determined, but the company seeks to raise an
estimated *$80.5
million*. *Lehman Brothers Inc.* and *Piper Jaffray & Co.* will act as joint
book-running managers. Contact Mary Margaret Grogan (910.332.1700).

*Chapel Hill** – Emergent Game Technologies* (www.emergent.net), an
interactive game innovator, has secured *$12 million* in Series D funding. *
Jerusalem** Venture Partners* (JVP) and *Worldview Technology Partners* led
the round with *Adena Ventures*, *Walker Ventures*, *Copan*, and *Cisco
Systems* also participating. Emergent plans to use this money to consolidate
its northern California office into its existing research and development
facility in Chapel Hill. Contact Peter Evers (415.863.4900).

*Raleigh – MiCell Technologies, Inc.* (www.micell.com), an early-stage
company that develops biomedical materials, has closed on *$7 million* in
new venture funding. Investors in the round include *Invemed Catalyst Fund *and
*GE Pension Plan*. Founded in 2001, MiCell developed a surface modification
technology that can modify and coat biomedical devices with advanced
polymers and drugs. The company plans to use the funding to accelerate
laboratory data and begin preliminary animal testing. Contact James McClain,
Ph.D., (919.313.2111).

*Cary – NephroGenex* (www.nephrogenex.com), a biotechnology company, has
raised *$3.3 million* in its first round of venture capital. Investors in
the deal include *Care Capital*, *BioStratum* and *Vanderbilt** University*.
NephroGenex is developing advanced treatments for kidney disease. The
company is acquiring commercial rights to clinical-stage drug candidates.
Contact J. Wesley Fox, Ph.D., (919.678.9512).

*Durham – RadarFind Corporation* (www.radarfind.com), a healthcare
technology startup company, has received *$3 million* in a Series B round of
funding. *NC IDEA Fund* invested in the round. RadarFind is developing
technology to help hospitals track equipment. Contact Terry Kane (
919.765.0043).

*Winston-Salem** – OptiVia Medical* (www.optiviamedical.com), a medical
device startup focused on minimally invasive surgical devices, has closed on
*$500,000* in funding from individual angel investors. The company is
seeking an additional $1.5 million in a Series B round. OptiVia has received
funding in the past from *Inception Micro Angel Fund* (IMAF) and the *Piedmont
Angel Network* (PAN). Contact Marc Finch (336.748.0402).

*Durham – Semprius, Inc.* (www.semprius.com), a semiconductor startup
company, has received an undisclosed amount of money from *Applied Ventures*.
Semprius recently closed on *$4.7 million* Series A funding in April.
Investors from the Series A round include *Intersouth Partners*, *Arch
Venture Partners* and *Illinois Ventures*. The investment from Applied
Ventures will be used for the development of a novel transfer printing
technology for the manufacture of advanced semiconductor devices. Contact
Karl von Gunten (919.460.6984).

*Cary – My EDGAR, Inc.* (www.myedgar.com), a financial services company, has
completed its acquisition of Florida-based *Bassett Press, Inc.* Bassett
Press will continue to operate as a wholly owned subsidiary of My EDGAR and
will keep its entire staff and operations. Through acquisitions and client
sales, My EDGAR continues to pursue its goal of becoming one of the largest
Edgar financial partners for today's public companies. Contact Brian R.
Balbirnie (919.481.4000).

[ top <#11425eb6760bf05d_top> ]
 On the Up

*Semprius, Inc.*
*Durham, N.C.*

With the technology industry soaring these days, it comes as no surprise
that Semprius, Inc., a semiconductor technology company, has taken a giant
leap in the advancement direction. Semprius is commercializing an innovative
process for printing high performance single crystal semiconductors on
materials ranging from glass to flexible and rigid plastics.

After founding Semprius in 2005 as a spinout of the University of Illinois,
Dr. John Rogers, Dr. Ralph Nuzzo, Dr. George Whitesides and Etienne Menard
set up company headquarters in Durham, N.C., near the Research Triangle
Park, for its prominence and involvement in the high-tech industry.

Semprius' semiconductor technology allows for the fabrication of thin,
lightweight and durable electronics at a very low cost, and the resulting
circuits have a higher level of performance than organic semiconductors. The
initial applications of this technology were applied to mobile
communications, flexible digital X-ray detectors, TFT backplanes for flat
panel displays, and radio frequency identification (RFID). The technology
can also be used to make large flexible displays or rubber gloves with
sensors to be used in surgery.

Since its founding, Semprius has received numerous awards and recognitions.
In 2006, Semprius won the *Wall Street Journal*'s Technology Innovation
Award for making large-scale, high-performance electronic circuits that can
be applied to any surface. In June 2007, Semprius was awarded the Council
for Entrepreneurial Development's Spin-out of the Year award, given to the
company that shows the most potential for impact in its market and success
in the future.

Along with these honors, Semprius has received a significant amount of
funding. In April 2007, Semprius received $4.1 million from Intersouth
Partners and ARCH Venture Partners and in June 2007, Semprius received a
Small Business Innovation Research Phase 1 grant worth $150,000 from the
National Science Foundation. Semprius will use this capital to hopefully
become the first company to develop a cost-effective process for forming
high-performance thin-film electronic devices on plastic substrates. Contact
Joseph Carr (919.806.4378).

[ top <#11425eb6760bf05d_top> ]
 New Developments

*RTP – RTI International* (www.rti.org), a scientific research and
development institute, has been selected by the *U.S. Agency for
International Development* to implement its AIDS Support and Technical
Assistance Resource Sector One Indefinite Quantity Contract (AIDSTAR Sector
1). RTI and its nine fellow partners will undertake various activities,
including Treatment with anti-retroviral therapy and related services,
reduction of stigma and discrimination against persons living with HIV/AIDS
and prevention and support for those living with the disease. *The American
Red Cross*, *Baylor International Pediatric AIDS Initiative*, *CARE*,
*International
Humana People to People Movement*, the *Infectious Disease Institute*,
the *Manoff
Group*, *Pact*, *Plan USA* and *Project Concern International* make up the
RTI consortium. Contact Lisa Bistreich (919.316.3596).

*Winston-Salem** – Wake Forest University* (www.wfu.edu) has launched two
startup companies, *FiberCell *and *PlexiLight*, to turn breakthrough
technologies developed at the university into products for the commercial
marketplace. FiberCell plans to develop the next generation of solar cells
based on a novel architecture that utilizes nanotechnology and optical
fibers to dramatically boost efficiency. PlexiLight plans to develop a
revolutionary lighting source that is lightweight, ultra-thin and energy
efficient. FiberCell and PlexiLight have received startup funding from Wake
Forest and Connecticut-based NanoHoldings. Contact Eric Frazier (
336.758.5237).

*RTP – AlphaVax* (www.alphavax.com), a vaccine technology company, has been
awarded *$3.6 million* from the *National Institute of Allergy and
Infectious Diseases* (NIAID) of the *National Institutes of Health* (NIH).
The three-year award supports the advancement of preclinical studies and the
development of new adjuvant technologies based on the company's proprietary
vector platform. The key experimental observations are RNA replicon vectors
that can serve as highly potent adjuvants for co-administered protein
immunogens, such as the influenza vaccine. Over the years, AlphaVax has
received several NIH awards. Contact Dr. Jonathan Smith (919.595.0321).

*Cary – Calvert Holdings* (www.calvertholdings.com), a diversified
biotechnology firm, has formed *Calvert BioCapital Fund I*, a new venture
capital fund that will acquire and develop early-stage biopharmaceutical
compounds and technologies. Michael Recny will be the co-founder and
managing partner of the fund. Calvert Holdings will provide the initial seed
investment for Calvert BioCapital and will seek additional capital from
potential limited partners. Contact Lisa Creech Bledsoe (919.854.4453).

*RTP – Jenken Biosciences* (www.jenkenbio.com), a specialty pharmaceutical
company, has received a *$142,716* low-interest loan from the *North
Carolina Biotechnology Center*. Jenken plans to use the funding to advance
products and will test their drug, JKB-121, a treatment for liver
inflammation in people who are obese and have diabetes. The research loan
Jenken received is one of many offered by Biotech Center to help enhance
entrepreneurial life science efforts across North Carolina. Barry Buzogany (
919.765.0032).

*Cary – BioLink Life Sciences, Inc.* (www.biolinkonline.com), a niche
pharmaceutical company, has announced that they have received two SBIR
grants totaling *$158,000*. The *U.S. Department of Agriculture* and *North
Carolina Department of Commerce* awarded the two grants. BioLink will use
the money to advance the development of their iron supplement for people
with the iron deficiency, anemia. Over the past year, BioLink has filed five
patents for its technology and hope to bring their products to the market.
Contact Deanna Nelson (919.678.9478).

*RTP – BioMedomics, Inc.* (www.biomedomics.com), a private biomedical
company that launched in 2006, has received a *$100,000* federal grant from
the *U.S. Centers for Disease Control and Prevention*. The *North Carolina
Biotechnology Center* recently awarded BioMedomics a grant worth *$25,000*.
The funding will aid in boosting the development of BioMedomics' technology
of developing personalized diagnostics based on gene detection. Contact Dr.
Frank Wang (919.883.5542).

*RTP – North Carolina Biotechnology Center* (www.ncbiotech.org), has loaned
*$50,000*, along with other services, to two university spinout companies.
Provagen, the first spinout from N.C. A&T State University, is developing
protein technology. Sirga Advanced Biopharma, a spinout from North Carolina
State University, is developing therapies for drug-resistant diseases. The
Technology Enhancement and Acceleration Model (TEAM) provided the loans,
while Business Acceleration and Technology Outlicensing Network (BATON)
provided legal and financial guidance for the startups. Contact Barry Teater
(919.549.8814).

*RTP – Semiconductor Research Corporation* (SRC) (www.src.org), the world's
leading university-research consortium for semiconductors and related
technologies, will be recognized at the White House for its "critical"
contributions to the U.S. – and, ultimately, the world's – chip industry.
Representatives from the consortium and industry attended the ceremony on
July 27 to celebrate their National Medal of Technology in Washington. The
National Medal of Technology represents the nation's highest honor for
technological innovation. Contact Scott Stevens (512.413.9540).

[ top <#11425eb6760bf05d_top> ]
 In the Pipeline

*Pittsboro – Biolex Therapeutics* (www.biolex.com), a privately held
biopharmaceutical company, has announced successful initial results from the
SELECT-1 Phase 2a clinical trial of Locteron, the first controlled-release
interferon alfa being developed for the treatment of chronic hepatitis C. In
the 12-week Phase 2a trial, the combination of the highest dose of Locteron
evaluated and the antiviral drug ribavirin achieved an early virologic
response (EVR) in 100% of the hepatitis C patients treated. The study
results also indicated that patients receiving Locteron experienced side
effects that were less frequent and less severe than those previously
reported in clinical trials for the currently marketed pegylated interferons
and for albumin-fused interferon (Albuferon) currently under development.
Biolex is co-developing Locteron with its partner *OctoPlus N.V.* Contact
Michelle Linn (508.419.1555).

*RTP – Icagen, Inc.* (www.icagen.com), a biopharmaceutical company, has
filed an Investigational New Drug application (IND) with the *U.S. FDA* for
ICA-105665, a novel small molecule compound for the treatment of epilepsy.
ICA-105665 is an activator of subtypes of KCNQ ion channels, which are
attractive targets for the treatment of epilepsy based on their function and
genetic linkage to a seizure disorder. ICA-105665 will be administered
orally and is intended to be developed as a chronic therapy for patients
with epilepsy. Provided that the IND is accepted, during the third quarter
of 2007 Icagen plans to initiate a Phase I clinical trial. Contact Richard
D. Katz, M.D., (919.941.5206).

*Winston-Salem – Targacept, Inc.* (www.targacept.com), a clinical stage
biopharmaceutical company, has initiated a Phase I clinical trial of
TC-5619, a novel small molecule that modulates the activity of the neuronal
nicotinic receptor (NNR) subtype known as alpha7. TC-5619 was discovered
using Targacept's proprietary drug design technology known as Pentad(TM) and
is the lead product candidate in its alpha7 NNR program. The alpha7 NNR is
associated with a variety of biological functions. In particular, the alpha7
NNR has been shown in animal studies to be an essential regulator of both
inflammation arising from injury or infection and cognitive functions.
Contact Alan Musso (336.480.2186).

*Morrisville – Addrenex Pharmaceuticals, Inc.* (www.addrenex.com), a
specialty pharmaceutical company that develops drugs to combat adrenergic
dysregulation, has received *$6 million* in investments from
Atlanta-based *Sciele
Pharma* as part of a licensing agreement. Sciele agreed to market Addrenex's
drug Clioncel that targets hypertension, attention deficit disorder and
hyperactivity. Sciele will also have the option to buy an additional 10
percent in Addrenex and will pay milestone payments up to $11 million to the
company. Addrenex plans to file a new drug application with the U.S. FDA
later this year, along with initiating a Phase III clinical trial. Contact
Joseph T. Schepers (678.341.1401).

*Durham – Tranzyme Pharma* (www.tranzyme.com), a leading biopharmaceutical
company developing drugs for gastrointestinal and metabolic diseases, has
received U.S. FDA fast track designation for its novel grehlin agonist,
TZP-101. Tranzyme's TZP-101 will provide treatment for severe gastroparesis
and post-operative ileus (POI). The fast track designation requires the FDA
to assist in the development and expedite the review of TZP-101 because it
has the potential to address an unmet medical need. Contact Vipin Garg, Ph.D.
(919.434.6643).

*Durham – Metabolon* (www.metabolon.com), a developer of biomarker
technologies and services, has announced that they are expanding to include
integrated service that combines information gathered from a variety of
sources. Called "mVision," the new product lineup will combine discovery,
analysis and effects data to help clients in their research efforts. mVision
will identify biomarkers from a variety of chemical classes and in several
types of samples, like plasma and urine. mVision is the fourth service that
Metabolon offers to help researchers understand disease processes and
evaluate drug effects. Contact Stephanie Ferrell (919.287.3359).

*Durham – Aldagen, Inc.* (www.aldagen.com), a biotechnology company
advancing a pipeline of clinical-stage regenerative therapies, has
established a Class 10,000 clean room for Good Manufacturing Practice
(GMP)-certified manufacture of its cellular products. The manufacturing
facility is approximately 1,000 square feet and is fully validated and
supported by environmental monitoring and quality control activities. The
facility has been designed and operating procedures are in place to scale up
for commercial manufacture of products upon completion of the trials and
approval by the FDA. Contact Ed Field (919.484.2571).

[ top <#11425eb6760bf05d_top> ]
 Mark Your Calendar!

*CED's Opportunity Conference<http://conferences/opportunity/2007/index.html>
*
September 10-11, 2007
SunSpree Resort
Wrightsville Beach, N.C.

*CED's Tech Conference <http://conferences/tech/2007/index.html>*
October 10-11, 2007
The Friday Center
Chapel Hill, N.C.

*CED's Venture Conference*
April 16-18, 2008
Washington Duke Inn & Conference Center
Durham, N.C.

*CED's BioTech Conference*
May 19-20, 2008
Benton Convention Center
Winston-Salem, N.C.

*Venture Update is published by the
Council for Entrepreneurial Development (CED)
an entrepreneurial support organization located in the Research Triangle
Park, N.C.
Jill Weinberger, editor
P.O. Box 13353, RTP, NC 27709
Phone: 919-549-7500
FAX: 919-549-7405
email: news at cednc.org*
------------------------------

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