Most people don’t think about how well an ingredient dissolves in a drug or a nutritional supplement but to the companies that make these products it can be a big problem. If an active ingredient or nutrient dissolves poorly into the product, much of it literally ends up flushed down the toilet. Phytoption wants to … Continue reading “Phytoption Aims to Solve Solubility Problems in Drugs and Food”
Author: Frank Vinluan
Xconomy Editor Frank Vinluan is a business journalist with experience covering technology and life sciences. Based in Raleigh, he was a staff writer at the Triangle Business Journal covering technology, biotechnology and energy before joining MedCityNews.com as North Carolina bureau chief. Prior to moving to North Carolina’s Research Triangle in 2007 he held business reporting positions at The Des Moines Register and The Seattle Times.
Cell Culture Agtech Offers Prospect of Meat and Milk Without the Moo
The idea of using laboratory techniques to create food sounds like something out of science fiction—think of the food replicators depicted on Star Trek. But the concept of lab-grown food is gaining traction as entrepreneurs and scientists look for ways to make more animal products while also diminishing the food industry’s impact on the environment. … Continue reading “Cell Culture Agtech Offers Prospect of Meat and Milk Without the Moo”
BrightFarms’ Indoor Farming System Lands $30M to Grow
Consumers can easily make garden salads year round because grocery stores get their greens from farms across the country where items like lettuce are always in season. But those leafy greens and tomatoes don’t necessarily have to travel hundreds of miles to reach salad plates. Agtech startup BrightFarms uses indoor farming to try to shorten … Continue reading “BrightFarms’ Indoor Farming System Lands $30M to Grow”
Agtech Sprouts From North Carolina’s Fertile Ground: A Company Map
Tobacco is still king in North Carolina, the top crop in the nation’s largest tobacco-producing state. But these days, North Carolina tobacco means more than cigarettes. Medicago’s facility in Durham, NC, for example, manufactures vaccines from tobacco plants. And a startup called SynShark has set up a Cornelius, NC, research site where it is testing … Continue reading “Agtech Sprouts From North Carolina’s Fertile Ground: A Company Map”
Soil Health Institute Plants Roots in RTP’s Growing Agtech Hub
Farmers have tinkered with soil for thousands of years, using fertilizers to add nutrients and amendments to adjust its acidity. But soil is more complex than that, says Wayne Honeycutt, CEO of the Soil Health Institute in Research Triangle Park, NC. Science is just scratching the surface of understanding soil’s biological components, the billions of … Continue reading “Soil Health Institute Plants Roots in RTP’s Growing Agtech Hub”
Zimmer Biomet Gets Hip to 3D Imaging with Clinical Graphics Deal
Zimmer Biomet, aiming to improve the way physicians see hip injuries, has acquired 3D-imaging technology startup Clinical Graphics. Warsaw, IN-based Zimmer Biomet (NYSE: [[ticker:ZBH]]) disclosed no financial terms for the deal. Clinical Graphics, based in the Netherlands, will join Zimmer Biomet’s hip preservation portfolio, the company said. Clinical Graphics says its technology is based on … Continue reading “Zimmer Biomet Gets Hip to 3D Imaging with Clinical Graphics Deal”
Eli Lilly Names Levi Garraway to Oncology Post
Levi Garraway is joining Eli Lilly (NYSE: [[ticker:LLY]]) as senior vice president, global development and medical affairs, of the company’s oncology unit. Garraway is currently director of the Joint Center for Cancer Precision Medicine at the Dana-Farber Cancer Institute, Brigham and Women’s Hospital, Boston Children’s Hospital, and the Broad Institute. He is also a professor of … Continue reading “Eli Lilly Names Levi Garraway to Oncology Post”
Agtech Startup Crop Enhancement Reaps $8.5M for Plant Coating Tech
Pesticides are a challenging agricultural problem, because rain washes them off of plants and the resulting runoff can poison other plants, animals, and water systems. Agricultural biotech startup Crop Enhancement is testing a plant protection product that could reduce pesticide use and perhaps do away with these chemical treatments altogether. Today, the company is announcing … Continue reading “Agtech Startup Crop Enhancement Reaps $8.5M for Plant Coating Tech”
Owl Manor’s Regenerative Medicine Veterinary Tech Lands $1.2M Round
Regenerative medicine techniques offer ways to tap into the body’s own healing abilities to treat injuries. Owl Manor Veterinary says its technology offers a better alternative to other biological treatments for joint damage in horses and dogs and now the medical device company has $1.2 million in capital to advance its efforts. Warsaw, IN-based Owl … Continue reading “Owl Manor’s Regenerative Medicine Veterinary Tech Lands $1.2M Round”
Cook Medical’s Creissel Named VP of Operations for China
Jean-Marc Creissel, vice president of Cook Medical’s urology business unit, has been appointed the company’s vice president of operations for the greater China region. Creissel has worked in a variety of roles since joining the Bloomington, IN-based medical device company in 1990. For his new position, he will relocate from the United States to Hong … Continue reading “Cook Medical’s Creissel Named VP of Operations for China”
Genesys Dials Up $1.4B for Interactive Intelligence in Call Centers
Call center software provider Genesys has ambitions to help businesses of all sizes connect with consumers in multiple ways. Now, that approach is poised for a boost through a deal for Genesys to buy out competitor Interactive Intelligence for $1.4 billion. The agreement follows a month of speculation about the future of Indianapolis-based Interactive Intelligence … Continue reading “Genesys Dials Up $1.4B for Interactive Intelligence in Call Centers”
Novan Files for IPO to Finance ‘Nitric Oxide on Demand’ Skin Drugs
Novan, a company researching ways to harness nitric oxide for drugmaking, has filed for an initial public offering to fund clinical work on treatments for an array of skin conditions. Durham, NC-based Novan set a preliminary target of $60 million for the IPO, a figure that may change as the company works through how many … Continue reading “Novan Files for IPO to Finance ‘Nitric Oxide on Demand’ Skin Drugs”
Blue Gas Marine Charts Course to Disrupt Boating Fuels Market
Drivers complain about the ups and downs of gasoline prices, but they’ve got nothing on boaters. Marine fuel costs more, and boats burn through a lot more of it. While motorists measure their fuel efficiency in miles per gallon, boaters tally gas consumption in gallons per hour. “It takes $200 worth of fuel just for … Continue reading “Blue Gas Marine Charts Course to Disrupt Boating Fuels Market”
SmartFile’s File Management Software Lands $1.1M Investment
SmartFile aims to raise its profile in a crowded market of document management software offerings and it now has $1.1 million in new capital to help. The Indianapolis-based company says VisionTech Angels, which describes itself as Indiana’s largest angel investment group, led the investment in SmartFile. The funding also included participation from Elevate Ventures. SmartFile … Continue reading “SmartFile’s File Management Software Lands $1.1M Investment”
Xylem Moves Into Smart Metering Business with $1.7B Sensus Deal
Water technology company Xylem is getting into the business of real-time monitoring of water and energy consumption through a $1.7 billion deal to acquire smart meter company Sensus. Rye Brook, NY-based Xylem (NYSE: [[ticker:XYL]]) announced the agreement—an all cash deal—this morning. Sensus, based in Raleigh, NC, sells to utilities hardware and software used for so-called … Continue reading “Xylem Moves Into Smart Metering Business with $1.7B Sensus Deal”
Metabolon Nabs $15M from Essex Woodlands for Precision Medicine Push
Metabolon, a company that makes diagnostics tests that analyze the biochemical processes related to metabolism, has raised $15 million in new funding from healthcare investment firm Essex Woodlands to advance its precision medicine efforts. Research Triangle Park, NC-based Metabolon specializes in metabolomics, the study of substances related to the body’s metabolism. With the new funding, … Continue reading “Metabolon Nabs $15M from Essex Woodlands for Precision Medicine Push”
California Agency Awards Humacyte $9.9M for Blood Vessel Technology
Humacyte hopes its regenerative medicine approach to blood vessels can offer a better and longer-lasting alternative to synthetic implants used to replace blocked veins. Now it has $9.9 million more to support its work in late-stage clinical trials. The Durham, NC-based biotech company said Monday that it has received $9.9 million from the California Institute … Continue reading “California Agency Awards Humacyte $9.9M for Blood Vessel Technology”
Pfizer Continues Gene Therapy Push With $150M Bamboo Buyout
Pfizer is bolstering its growing gene therapy portfolio with a $150 million acquisition of Bamboo Therapeutics, the latest startup based on the research of one of the field’s pioneers, University of North Carolina Gene Therapy Center director Jude Samulski. Pfizer (NYSE: [[ticker:PFE]]) initially signaled its interest in Bamboo’s work in the first quarter, when it … Continue reading “Pfizer Continues Gene Therapy Push With $150M Bamboo Buyout”
LabCorp Boosts Prenatal Testing Presence with $371M Sequenom Deal
LabCorp, already a giant in diagnostics and laboratory testing, is building its capabilities in prenatal testing with an agreement to acquire Sequenom in a $371 million deal. Under the tender offer, Burlington, NC-based LabCorp (NYSE: [[ticker:LH]]) will acquire all of the outstanding shares of Sequenom for $2.40 per share, for a total equity value of … Continue reading “LabCorp Boosts Prenatal Testing Presence with $371M Sequenom Deal”
AgriSolve Tries for Paydirt with New Soil Amendment Technology
On a farm, nothing goes to waste—not even the waste. But even though manure has value as fertilizer, it’s not valuable enough to transport far, says Roland Kessler. That’s why farmers typically keep it for their own fields. As animal operations get bigger, Kessler says, so much manure is produced that using it all as … Continue reading “AgriSolve Tries for Paydirt with New Soil Amendment Technology”
Indigo’s Microbial Tech for Crops Lands $100M to Fight Plant Stresses
Indigo, an agricultural technology startup, has discovered ways that microbes help a plant grow under dry conditions. Now the company is pulling back the curtain on some of that work as it ramps up efforts to bring this technology to farmers. Boston-based Indigo is announcing this morning it has closed a $100 million Series C … Continue reading “Indigo’s Microbial Tech for Crops Lands $100M to Fight Plant Stresses”
Zimmer Biomet Enters Robotic Surgery Space with Medtech Deal
Zimmer Biomet is staking out territory in the fast-growing robotic surgery market by acquiring Medtech, a France-based company that has already commercialized robotic systems used in brain and spinal procedures. Warsaw, IN-based Zimmer Biomet (NYSE: [[ticker:ZBH]]) paid an estimated $77 million for a majority stake in Medtech (EURONEXT: [[ticker:ROSA]]), marking its third acquisition in as … Continue reading “Zimmer Biomet Enters Robotic Surgery Space with Medtech Deal”
Ziopharm Discloses Patient Death in Brain Cancer Trial, Shares Fall
A patient died after receiving Ziopharm Oncology’s experimental treatment for an aggressive form of brain cancer, but the Boston-based biotech company describes the death as “an isolated case” and plans to continue the study. Nonetheless, the news has spooked investors and Ziopharm’s (NASDAQ: [[ticker:ZIOP]]) stock price slipped more than 13 percent to $4.89 this morning. … Continue reading “Ziopharm Discloses Patient Death in Brain Cancer Trial, Shares Fall”
Sarepta Stock Down as FDA Seeks More Data from Rival Duchenne Drug
Sarepta Therapeutics still awaits an FDA decision on its Duchenne muscular dystrophy drug. But the agency’s conclusion that another company working on a treatment for the muscle-wasting disease needs to submit more information is leading some observers to believe that approval chances for Cambridge, MA-based Sarepta’s drug are slim. The FDA has informed Santhera Pharmaceuticals … Continue reading “Sarepta Stock Down as FDA Seeks More Data from Rival Duchenne Drug”
Cree Sharpens LED Lighting Focus with Deal to Sell Power & RF Unit
Cree has made no secret of its plans to focus its business on LED lighting. Now the company is ramping up those efforts with the planned sale of a legacy business unit that did not fit that strategy. Durham, NC-based Cree (NASDAQ: [[ticker:CREE]]) announced today that it has a definitive agreement to sell its Power & … Continue reading “Cree Sharpens LED Lighting Focus with Deal to Sell Power & RF Unit”
FDA’s Andrew Mulberg Named to Amicus Therapeutics Regulatory Post
Amicus Therapeutics (NASDAQ: [[ticker:FOLD]]) has named Andrew Mulberg the company’s vice president of regulatory strategy. The pediatric gastroenterologist comes to Cranbury, NJ-based Amicus from the FDA, where he spent six years, most recently as the deputy director of the agency’s Division of Gastroenterology and Inborn Errors Products. Mulberg’s previous roles include posts at Johnson & … Continue reading “FDA’s Andrew Mulberg Named to Amicus Therapeutics Regulatory Post”
Argos Therapeutics Names Richard Katz New CFO
Argos Therapeutics (NASDAQ: [[ticker:ARGS]]) has appointed Richard Katz the Durham, NC-based immune-oncology company’s new CFO. Katz was most recently CFO of Viamet Pharmaceuticals, also based in Durham. Previous roles include serving as CFO of Durham-based Icagen, and working as an executive in Goldman, Sachs & Company’s (NYSE: [[ticker:GS]]) healthcare group. Katz holds a medical degree … Continue reading “Argos Therapeutics Names Richard Katz New CFO”
Tesaro Stock Sale Hauls in $409M on Heels of Strong Cancer Data
With its stock price soaring following the release of strong data for its experimental ovarian cancer treatment, Tesaro completed a stock sale that net the company $409 million. Tesaro (NASDAQ: [[ticker:TSRO]]) said it sold 5.3 million shares of common stock at $81 per share. The Waltham, MA-based company’s stock was trading at $91.36 per share … Continue reading “Tesaro Stock Sale Hauls in $409M on Heels of Strong Cancer Data”
Pernix Therapeutics Slashes Staff to Shake Up Sales Strategy
Pernix Therapeutics is slashing its headcount by more than 20 percent as the specialty pharmaceutical company tries to move toward profitability after a streak of acquisitions. Morristown, NJ-based Pernix (NASDAQ: [[ticker:PTX]]) will cut 60 workers, mostly from its neurology sales staff, the company said today. As of the end of 2015, Pernix reported a headcount … Continue reading “Pernix Therapeutics Slashes Staff to Shake Up Sales Strategy”
Amicus Takes Aim at Rare Brain Disorder with MiaMed Acquisition
Rare disease drug developer Amicus Therapeutics has added a new prospect to its pipeline with the acquisition of a biologic program that the company hopes will eventually treat a genetic disorder whose seizures and neurological impairments have no approved treatment or cure. That preclinical program comes from MiaMed, a company that Amicus (NASDAQ: [[ticker:FOLD]]) said … Continue reading “Amicus Takes Aim at Rare Brain Disorder with MiaMed Acquisition”
Agenus Names Jean-Marie Cuillerot Head of Clinical Development
Agenus (NASDAQ: [[ticker:AGEN]]) has appointed Jean-Marie Cuillerot as its vice president and global head of clinical development. The Lexington, MA-based immuno-oncology company’s drug pipeline includes potential therapies for cancer, as well as shingles and malaria. Cuillerot’s cancer drug development experience includes posts at EMD Serono Research and Development Institute, Merck Serono, and Bristol-Myers Squibb (NYSE: … Continue reading “Agenus Names Jean-Marie Cuillerot Head of Clinical Development”
With CF Pact, Moderna and Vertex Aim to Spray mRNA Into the Lungs
Moderna Therapeutics has spent years developing a way to coax a patient’s body to make its own protein-based drugs, with visions of treating conditions ranging from cancer to cardiology. Add cystic fibrosis to those ambitions, as Cambridge, MA-based Moderna is announcing today a collaboration with Boston-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), a top maker of drugs … Continue reading “With CF Pact, Moderna and Vertex Aim to Spray mRNA Into the Lungs”
Bristol-Myers Squibb Boosts Cancer Drug Pipeline with Cormorant Deal
Bristol-Myers Squibb has acquired cancer and rare disease drug developer Cormorant Pharmaceuticals, a deal that includes an early-stage cancer compound that could complement the way Bristol’s own immune-oncology treatments work. New York-based Bristol (NYSE: [[ticker:BMY]]) said Tuesday that it has acquired all of the outstanding stock of privately held Cormorant for $95 million in up … Continue reading “Bristol-Myers Squibb Boosts Cancer Drug Pipeline with Cormorant Deal”
Bone-Healing Therapies Firm Bioventus Files for IPO
Bioventus, a company that develops treatments that harness the body’s own biology to help bones heal, is joining the list of life science firms lining up to go public. The Durham, NC-based biotech company filed paperwork on Thursday for a $150 million initial public offering to raise funds to pay off debt. That dollar figure … Continue reading “Bone-Healing Therapies Firm Bioventus Files for IPO”
Icagen Boosts Drug Discovery Capabilities With Sanofi Site Purchase
Icagen is expanding its capabilities to search for new drugs by bolting on a Sanofi research site in Arizona and gaining access to the lab’s library of compounds. Durham, NC-based Icagen says it has a definitive agreement to acquire the Sanofi (NYSE: [[ticker:SNY]]) research site in Oro Valley, AZ. The companies disclosed no financial terms … Continue reading “Icagen Boosts Drug Discovery Capabilities With Sanofi Site Purchase”
Radicle Accelerator Fund Launches to Nurture AgTech Innovation
Radicle, a new accelerator fund focused on agricultural ventures, is launching today with plans to seed and nurture the next generation of agtech companies addressing global farming problems. The new accelerator will have locations in multiple states and around the world. Radicle, which takes its name from the botany term for the part of a … Continue reading “Radicle Accelerator Fund Launches to Nurture AgTech Innovation”
EndoCyte’s Ellis Out as CEO, Sherman Appointed to Top Spot
EndoCyte CEO Ron Ellis has resigned from the company he helped found and the cancer drug developer has named chief operating officer Mike Sherman his successor. West Lafayette, IN-based EndoCyte (NASDAQ: [[ticker:ECYT]]) gave no reason for Ellis’ sudden departure. In a securities filing, the company said that Ellis notified the company of his resignation from … Continue reading “EndoCyte’s Ellis Out as CEO, Sherman Appointed to Top Spot”
OrthoPediatrics Bones Up on IPO for Children’s Medical Devices
Children’s bones are quite different from those of adults. Besides being smaller, OrthoPediatrics says, a child’s bone is more curved and has growth plates that must be protected. While several companies serve the global orthopedic medical devices market, OrthoPediatrics claims to be the only one focused on these nuances of pediatric orthopedics. Now the Warsaw, … Continue reading “OrthoPediatrics Bones Up on IPO for Children’s Medical Devices”
Animated Dynamics Closes on $1.7M for Cancer Imaging Technology
[Corrected 6/17/16, 12:54 p.m. See below] Animated Dynamics has closed $1.7 million in venture funding for a medical imaging technology developed to help doctors get a better view of the cancers that they’re treating. Caravel Ventures led the Series A round, which included investments from Elevate Ventures, the Purdue Research Foundation, and Vestian. Indianapolis-based Animated … Continue reading “Animated Dynamics Closes on $1.7M for Cancer Imaging Technology”
Vennli’s Software Brings Consumer Decisions Into View
The best way for many businesses to get a sense of what their customers are thinking is to simply ask them. Customer surveys are a tried and true method of taking the market’s pulse. But they’re also stuck in time, says Gary Gigot. Gigot, co-founder and CEO of software startup Vennli, says survey information quickly … Continue reading “Vennli’s Software Brings Consumer Decisions Into View”
Vennli Draws Up $5M+ Round for Visualization Software
Analytics is a big buzzword in business circles these days. As companies in a growing number of industries snap up software to help them hone their marketing efforts, Indiana startup Vennli is arming itself with $5.3 million in fresh cash to support its analytics software. The new money for South Bend, IN-based Vennli is part … Continue reading “Vennli Draws Up $5M+ Round for Visualization Software”
SciQuest Set to go Private in $509M Deal with Accel-KKR
Software firm SciQuest is set to go private again in a cash deal that values the company at about $509 million. Private equity firm Accel-KKR is paying $17.75 per share to acquire all of the common stock of Morrisville, NC-based SciQuest (NASDAQ: [[ticker:SQI]]). The offer represents a 33.7 percent premium over Friday’s closing stock price. … Continue reading “SciQuest Set to go Private in $509M Deal with Accel-KKR”
TransEnterix Names Duke Doc Pappas to Surgical Officer Post
TransEnterix (NYSE MKT [[ticker:TRXC]]) has appointed Duke University surgeon Theodore Pappas to serve as the company’s senior surgical officer. After TransEnterix failed to secure FDA clearance for its surgical robot earlier this spring, CEO Todd Pope said the Research Triangle Park, NC-based medical device developer would hire a surgeon to help with clinical and regulatory … Continue reading “TransEnterix Names Duke Doc Pappas to Surgical Officer Post”
Arrivo BioVentures Lands $49M to Fuel Hunt for New Drugs
Usually when a biotech company makes a large fundraising announcement, the cash is committed to taking a specific drug through clinical trials. Arrivo BioVentures has secured $49 million in capital to first find the drugs to develop. The approach is similar to what the Morrisville, NC-based company’s management team did with three previous biotech firms, … Continue reading “Arrivo BioVentures Lands $49M to Fuel Hunt for New Drugs”
Magnomics Mastitis Diagnostic Lands Prize, Finds Potential NC Partner
While the financial costs of mastitis are clear, the diagnostic options for this dairy cow infection are muddled. Laboratory tests take days to return to farmers any useful information, time that eats into a dairy farm’s milk production. Magnomics aims to improve mastitis detection with a diagnostic device designed for farm use. The Cantanhede, Portugal-based … Continue reading “Magnomics Mastitis Diagnostic Lands Prize, Finds Potential NC Partner”
Chimerix, TransEnterix, BDSI, Duke Energy & More NC Innovation News
Here’s a recap of top headlines from the last week in North Carolina biotech, tech, and cleantech news. —Chimerix (NASDAQ: [[ticker:CMRX]]) ran into another setback for its lead drug. The Durham company reported that its antiviral brincidofovir failed in a late-stage trial that studied the drug’s ability to fight adenovirus in transplant patients. The open-label … Continue reading “Chimerix, TransEnterix, BDSI, Duke Energy & More NC Innovation News”
G1 Therapeutics Hauls in $47M for Lung, Breast Cancer Trials
[Updated, 5/12/16, 10:25 a.m. See below.] Buoyed by promising early clinical trial results and the market traction of a similar cancer drug, G1 Therapeutics has raised $47 million to advance its lead program and start clinical trial work on another. New investor Cormorant Asset Management led the Series C investment in Research Triangle Park, NC-based … Continue reading “G1 Therapeutics Hauls in $47M for Lung, Breast Cancer Trials”
TransEnterix Shifts Surgical Robot Focus After FDA Rejection
TransEnterix entered 2016 on the inside track as the likely challenger to surgical-robot giant Intuitive Surgical, marching forward with a pipeline that boasted two different robotic systems. But the FDA rejected TransEnterix’s first surgical robot, and the company is now conserving cash and trimming staff to keep its second robot in the race with other … Continue reading “TransEnterix Shifts Surgical Robot Focus After FDA Rejection”
AgTech Accelerator Aims to Sway Agriculture Investment Trends
Agriculture and food-related companies make up a global industry, but when it comes to seeding startups in the sector, agricultural technologies face a relative funding famine. AgTech Accelerator, a new startup program launched Thursday in Research Triangle Park, NC, is trying to address funding issues facing agtech companies, while also providing some of the business … Continue reading “AgTech Accelerator Aims to Sway Agriculture Investment Trends”
New AgTech Accelerator Takes Root in RTP with $11.5M Investment
AgTech Accelerator, a new program intended to foster entrepreneurialism in agriculture, has launched in Research Triangle Park, NC, boosted by $11.5 million in support from heavyweights in the agriculture and investment communities, and partnerships with leading academic centers throughout the country. Alexandria Venture Investments, the investment arm of Alexandria Real Estate Equities (NYSE: [[ticker:ARE]]), is … Continue reading “New AgTech Accelerator Takes Root in RTP with $11.5M Investment”