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.

Cempra Antibiotic Hits Phase 3 Target, FDA Filing Planned

Cempra’s next-generation antibiotic, which has been touted as a potential blockbuster, is moving toward an FDA filing on news that the drug achieved positive results in a Phase 3 clinical trial. Chapel Hill, NC-based Cempra (NASDAQ: [[ticker:CEMP]]) said this morning that an intravenous form of its drug, solithromycin, was successful treating patients with community-acquired bacterial … Continue reading “Cempra Antibiotic Hits Phase 3 Target, FDA Filing Planned”

Viamet Names Former Quintiles Executive Cohen to Management Team

Viamet Pharmaceuticals has hired Quintiles (NYSE: [[ticker:Q]]) veteran Oren Cohen to become the company’s chief medical officer as the Durham, NC, company presses forward in clinical trials. Cohen had previously worked as senior vice president, global head, early clinical development, as well as chief medical officer for Quintiles, a contract research organization also based in … Continue reading “Viamet Names Former Quintiles Executive Cohen to Management Team”

Solar Makes NC Cleantech Shine, But Tax Credit Expiry Clouds Future

While biotech and software are the sectors commonly associated with North Carolina innovation, cleantech has quietly emerged as its own economic bright spot. North Carolina’s renewable energy capacity now totals more than 1 gigawatt, making it the fourth state to cross that threshold. Much of the growth has come from solar installations. North Carolina’s 396.6 … Continue reading “Solar Makes NC Cleantech Shine, But Tax Credit Expiry Clouds Future”

Raleigh-Durham Roundup: RTP Park Center, Liquidia, Novan, & More

Here are the highlights in life science news as the Carolinas starts to dry out from a soggy 12 straight days of rain: —The Research Triangle Foundation, which manages Research Triangle Park, secured $50 million from public and private sources to finance the first phase of Park Center, a redevelopment project that will bring a … Continue reading “Raleigh-Durham Roundup: RTP Park Center, Liquidia, Novan, & More”

AtriCure to Buy Heart Device Developer nContact for $99M

NContact, a medical device company focused on treatments for heart rhythm disorders, is set to be acquired by AtriCure in a cash and stock deal valued at $99 million. AtriCure (NASDAQ: [[ticker:ATRC]]), a company that also focuses on devices treating arrhythmias, says it entered into a definitive agreement to acquire Morrisville, NC-based nContact for $91 … Continue reading “AtriCure to Buy Heart Device Developer nContact for $99M”

Research Triangle Foundation Lands $50M to Jumpstart Park Center Plan

North Carolina’s Research Triangle Park, for decades a source of inventions in technology and life sciences, is preparing to reinvent itself. Founded through a collaboration of industry, government, and academia, the Park is turning to public-private partnerships once again to spark development, with $50 million in funding that paves the way for the Park’s first … Continue reading “Research Triangle Foundation Lands $50M to Jumpstart Park Center Plan”

TransEnterix Acquires SOFAR Surgical Robotics Unit in $100M Deal

[Updated 9/22/15, 12:08 pm. See below.] Medical device company TransEnterix has reached across the Atlantic Ocean to acquire the surgical robotics division of Italian company SOFAR in a cash and stock deal valued at $99.8 million. Research Triangle Park, NC-based based TransEnterix (NYSE: [[ticker:TRXC]]) has already developed its own robotic surgical system for minimally invasive … Continue reading “TransEnterix Acquires SOFAR Surgical Robotics Unit in $100M Deal”

Raleigh-Durham Roundup: Biotech Center, AvidExchange, Cempra, & More

Here are some of the top headlines from the last week in North Carolina biotech, tech, and cleantech news. —The North Carolina Biotechnology Center’s funding was preserved in the $21.7 billion state budget, approved and signed into law last week—two months after the scheduled close of the legislative session. The Senate had initially proposed slashing … Continue reading “Raleigh-Durham Roundup: Biotech Center, AvidExchange, Cempra, & More”

Sequoia Capital’s Goetz on Carbon3D, a North Carolina-Born “Unicorn”

Sequoia Capital’s Jim Goetz invested in the North Carolina-born 3D printing startup that would go on to become the venture capital firm’s latest “unicorn” after seeing the technology in action—demonstrated by the high school student who helped build the prototype printer. Carbon3D’s technology can 3D print in minutes what takes hours with currently available technology. … Continue reading “Sequoia Capital’s Goetz on Carbon3D, a North Carolina-Born “Unicorn””

CED Report: NC Companies Raised $427M in First Half of 2015

Sprout Pharmaceuticals made recent headlines by securing the first FDA approval for a sexual-desire drug, then landing a deal days later to be acquired by Valeant Pharmaceuticals for $1 billion. But the Raleigh, NC-based company is also notable for the $50 million it raised from investors in June—the largest investment for any North Carolina company … Continue reading “CED Report: NC Companies Raised $427M in First Half of 2015”

CommScope Adds Airvana to Boost Indoor Wireless Offerings

CommScope, a company that provides telecommunications equipment for wired and wireless networks, has reached an agreement to acquire Airvana to beef up its capabilities supporting indoor wireless coverage. Hickory, NC-based CommScope (NASDAQ: [[ticker:COMM]]) says it will finance the acquisition with cash, but disclosed no terms other than to say it aims to close the deal … Continue reading “CommScope Adds Airvana to Boost Indoor Wireless Offerings”

Medfusion Lands $3M for Patient-Focused Software Push

There’s a lot of talk in the health IT space about getting patients actively engaged in health care, and a lot of companies are trying to do it through mobile apps. Medfusion, a health software company that already has a nationwide customer base of physicians, now wants to reach out to patients directly and the … Continue reading “Medfusion Lands $3M for Patient-Focused Software Push”

Tessera Snaps Up 3D Chip Bonder Ziptronix for $39M

As electronic devices get smaller and more powerful, the chip technology inside them has to pack more punch in less space. Semiconductor technology company Ziptronix developed a more efficient and less expensive way to bond the chips used to make the 3D integrated circuits that offer greater performance from a smaller footprint. That technology now … Continue reading “Tessera Snaps Up 3D Chip Bonder Ziptronix for $39M”

Digital Textiles Printer Spoonflower Sews Up $25M Investment

Textiles startup Spoonflower is reviving North Carolina’s legacy in the fabrics business with a new, digital twist. Now the company has $25 million in additional capital to expand its reach. Durham, NC-based Spoonflower announced the new funding Wednesday. North Bridge Growth Equity, a Boston-based firm, led the investment, which included participation from Bull City Venture … Continue reading “Digital Textiles Printer Spoonflower Sews Up $25M Investment”

Hatteras Venture Closes $90M Life Sciences, Health IT Fund

Hatteras Venture Partners has reloaded, closing a new fund this morning to make a fresh round of investments in life science and health IT companies. The Durham, NC-based venture capital firm has raised more than $90 million for the fund, the company’s fifth. Ireland-based Malin (ISE: [[ticker:MLC]]) led the investment, which could reach as much … Continue reading “Hatteras Venture Closes $90M Life Sciences, Health IT Fund”

Valeant to Acquire Addyi Maker Sprout Pharma in $1B Deal

Sprout Pharmaceuticals is set to be acquired by Valeant Pharmaceuticals for $1 billion cash, a deal that comes just two days after the small drug company secured FDA approval for the first drug to boost the sex drive in women with low libido. The agreement, announced this morning, will put Raleigh, NC-based Sprout’s flibanserin (Addyi) … Continue reading “Valeant to Acquire Addyi Maker Sprout Pharma in $1B Deal”

FDA Approves Sprout Pharma’s Sexual Desire Drug—With Boxed Warning

Sprout Pharmaceuticals’ drug to treat low sexual desire in women secured regulatory approval late Tuesday, but the FDA’s nod comes with a strict monitoring program to guard against safety risks associated with the drug. The FDA notes that flibanserin (Addyi) can cause severe low blood pressure, as well as the loss of consciousness—risks that are … Continue reading “FDA Approves Sprout Pharma’s Sexual Desire Drug—With Boxed Warning”

Duke Spinoff Cloud Pharmaceuticals Names Two Executives to Team

Drug discovery and development firm Cloud Pharmaceuticals named two new executives to its management team. New CFO Lyle Lohmeyer’s experience includes financial management positions at AAIPharma, Qualia Networks, and Energy Conversion Systems Holdings. Don Van Dyke joins as Cloud Pharmaceuticals’ COO after previously working as a consultant to the company. Research Triangle Park, NC-based Cloud … Continue reading “Duke Spinoff Cloud Pharmaceuticals Names Two Executives to Team”

BDSI Cancer Pain Drug Approved Again, Search Continues for New Partner

BioDelivery Sciences International now expects its breakthrough cancer pain treatment to return to the market in 2016—seven years after the FDA first approved the company’s drug. Raleigh, NC-based BioDelivery Sciences (NASDAQ: [[ticker:BDSI]]) said Thursday that the FDA granted the company supplemental approval on a new formulation of Onsolis. The drug administers the painkiller fentanyl through … Continue reading “BDSI Cancer Pain Drug Approved Again, Search Continues for New Partner”

Raleigh-Durham Roundup: Merz, ChannelAdvisor, UNC, & More

Here are the headlines from the last week in North Carolina biotech, tech, and startup news. —Ulthera, a subsidiary of Raleigh skin products company Merz North America, received FDA clearance on a medical device for treating cellulite. Merz points to clinical trial results showing that the Cellfina System can reduce the appearance of cellulite for … Continue reading “Raleigh-Durham Roundup: Merz, ChannelAdvisor, UNC, & More”

Premier Boosts Health IT Capabilities with $400M CECity Acquisition

Healthcare technologies company Premier hasn’t been shy about using acquisitions to build a portfolio that can offer more services to hospitals. Now the Charlotte, NC-based company is bolstering its capabilities to measure and improve hospital care with a $400 million deal to acquire CECity, marking the company’s sixth—and biggest—acquisition since going public in 2013. Under … Continue reading “Premier Boosts Health IT Capabilities with $400M CECity Acquisition”

vTv Therapeutics IPO Raises $117M For Alzheimer’s, Diabetes Drugs

[Updated 7/30/15, 4:48 pm. See below.] Drug developer vTv Therapeutics has joined the ranks of biotech companies going public, raising $117 million in an initial public offering mainly financing late-stage clinical trial work on an Alzheimer’s disease drug candidate that Pfizer pursued, then dropped. The High Point, NC-based company offered 7.8 million shares at $15 … Continue reading “vTv Therapeutics IPO Raises $117M For Alzheimer’s, Diabetes Drugs”

Baebies Hauls In $13M For Newborn Screening Technology

Baebies, a diagnostics developer aiming to make neonatal screening easier and more widely accessible, has raised $13 million in equity financing as the company moves forward developing and testing its technology. The Durham, NC-based company said investors in the oversubscribed round included Rex Health Ventures; DUMAC, an investment group controlled by Duke University; Cunning Capital; … Continue reading “Baebies Hauls In $13M For Newborn Screening Technology”

Raleigh-Durham Roundup: Chimerix, vTv, Biotech Center, & More

Here are headlines from the past week in North Carolina biotech and cleantech news. —A Chimerix (NASDAQ: [[ticker:CMRX]]) antiviral being studied as a smallpox countermeasure showed positive results in a trial evaluating the drug in animals. The Durham company is studying brincidofovir under the FDA’s animal efficacy rule, which is used to test a drug’s … Continue reading “Raleigh-Durham Roundup: Chimerix, vTv, Biotech Center, & More”

Scynexis Sells CRO Business to Avista, Turns Focus to Antifungal Drug

Scynexis, which has straddled the drug business as both a drug developer and a services provider for other pharmaceutical companies, is now exclusively focused on developing its own drugs. The Durham, NC, company announced Thursday that it has sold its contract research business to Avista Pharma Solutions for an undisclosed price. Scynexis (NASDAQ: [[ticker:SCYX]]) will … Continue reading “Scynexis Sells CRO Business to Avista, Turns Focus to Antifungal Drug”

Alzheimer’s Drug Firm vTv Therapeutics Sets Terms for $125M IPO

Drug developer vTv Therapeutics is moving forward with its plans for a public stock offering to support late-stage clinical development of its Alzheimer’s disease drug. The High Point, NC-based company on Monday set terms for its IPO, proposing to offer 7.8 million shares in the range of $15 to $17 per share. At the midpoint, … Continue reading “Alzheimer’s Drug Firm vTv Therapeutics Sets Terms for $125M IPO”

NephroGenex Aims to Raise $7.5M for Diabetic Nephropathy Drug

NephroGenex has finally priced a stock offering to pay for more late-stage clinical trial work on its treatment for a deadly diabetes complication, but the company needed to slash its offering twice in order to pull it off. Raleigh, NC-based NephroGenex [[NASDAQ: [[ticker:NRX]]) aims to raise $7.5 million from a secondary stock offering of 1.5 … Continue reading “NephroGenex Aims to Raise $7.5M for Diabetic Nephropathy Drug”

Amazon Web Services to Draw Power from North Carolina Wind Farm

When the first commercial-scale wind farm in the southeastern United States comes online in North Carolina, it will help power the cloud offerings of Amazon Web Services (AWS). AWS, the cloud services subsidiary of Seattle-based Amazon (NASDAQ: [[ticker:AMZN]]), announced Monday that it has contracted with Iberdrola Renewables to construct and operate a 208-megawatt wind farm … Continue reading “Amazon Web Services to Draw Power from North Carolina Wind Farm”

Raleigh-Durham Roundup: Iberdrola, TransEnterix, Inmar, & More

Here are the latest headlines in North Carolina cleantech, biotech, and tech news: —The first commercial-scale wind farm in the South is now slated for the North Carolina coast. Spanish company Iberdrola Renewables plans to spend $600 million to erect 102 wind turbines on 22,000 acres near Elizabeth City, and could add up to 50 … Continue reading “Raleigh-Durham Roundup: Iberdrola, TransEnterix, Inmar, & More”

Cree Bolsters Power & RF Business with APEI Acquisition

LED and semiconductor technologies company Cree has acquired Arkansas Power Electronics International, or APEI, a maker of electronics components used in power, telecommunications, and renewable energy applications, the company announced today. Cree (NASDAQ: [[ticker:CREE]]) disclosed no financial terms for the acquisition of privately held APEI. Durham, NC-based Cree said that APEI will continue to operate … Continue reading “Cree Bolsters Power & RF Business with APEI Acquisition”

SEAL Innovation Dives Into Pool Safety with Wearable Drowning Sensor

Drowning does not happen the way most people think. On television and in movies, a frantic swimmer kicks, thrashes, and shouts, says Graham Snyder, an emergency room physician. But real-life drowning is nearly silent. Drowning swimmers say nothing because they can barely breathe, Snyder explains. Rather than thrash, they bob up and down before quietly … Continue reading “SEAL Innovation Dives Into Pool Safety with Wearable Drowning Sensor”

XRpro Resurrects Icagen With Buy of Some Pfizer Ion Channel Assets

[Updated 7/2/15, 10:38 am. See below.] Finding new drugs can be challenging, time consuming, and expensive. But Cambridge, MA, drug discovery company XRpro Sciences believes it can make the process faster and more efficient, and it’s scooping up some North Carolina-based assets from Pfizer to do it. XRpro said today it has acquired drug discovery … Continue reading “XRpro Resurrects Icagen With Buy of Some Pfizer Ion Channel Assets”

Raleigh-Durham Roundup: Cree, Google Fiber, Bayer CropScience, & More

Here are the highlights from recent North Carolina tech and biotech news: —Cree (NASDAQ: [[ticker:CREE]]) is restructuring its LED products business in response to an oversupply of LEDs and a weakening forecast for LED sales. The company said it would consolidate two manufacturing plants at its home in Durham, NC, and two in China to … Continue reading “Raleigh-Durham Roundup: Cree, Google Fiber, Bayer CropScience, & More”

Duke Long-Term Health Study Aims To Join Obama’s Precision Med Plan

The small North Carolina mill town of Kannapolis left its mark on the U.S. economy and history by becoming the nation’s largest center for textiles manufacturing. In its next chapter, Kannapolis could become part of medical history. Duke University wants the medical research already underway at Kannapolis to become part of the federal Precision Medicine … Continue reading “Duke Long-Term Health Study Aims To Join Obama’s Precision Med Plan”

BioCryst Licenses Flu Drug to CSL, Gains Cash For Rare Disease Work

BioCryst Pharmaceuticals has licensed the rights to its influenza drug to CSL Limited, a $45 million deal that allows BioCryst to focus entirely on developing rare disease drugs. In signing away the rights to peramivir (Rapivab)—the Durham, NC, company’s only FDA-approved drug so far—BioCryst (NASDAQ: [[ticker:BCRX]]) gets $33.7 million up front, and stands to gain … Continue reading “BioCryst Licenses Flu Drug to CSL, Gains Cash For Rare Disease Work”

How Pozen’s Tribute Pharma Deal Paves New Path for “Safer Aspirin”

Pozen’s drug pipeline yielded two products that successfully reached the market. For the third, it is changing up its business strategy to try something it has never done before—take a drug into the market on its own. Partnerships had enabled Pozen (NASDAQ: [[ticker:POZN]]) to leverage the sales forces of larger pharma companies to commercialize a … Continue reading “How Pozen’s Tribute Pharma Deal Paves New Path for “Safer Aspirin””

Surgical Robot Maker TransEnterix to Raise $50M in Stock Offering

Wasting no time in preparing for commercialization of its surgical robot system, TransEnterix is pulling out plans to raise $50 million through a stock sale intended to finance sales and marketing of the technology. The plans come a week after Research Triangle Park, NC-based TransEnterix (NYSE: [[ticker:TRXC]]) applied to the FDA for regulatory clearance for … Continue reading “Surgical Robot Maker TransEnterix to Raise $50M in Stock Offering”

Raleigh-Durham Roundup: Sprout Pharma, DARA Bio, Viamet, & More

Here are the headlines in North Carolina tech, biotech, and cleantech news. —The Sprout Pharmaceuticals female sexual desire drug that twice failed to secure FDA approval can now claim the backing of an FDA advisory panel—with conditions. The panel voted 18-6 on Thursday to support flibanserin’s (Addyi) approval as long as the Raleigh, NC, company’s … Continue reading “Raleigh-Durham Roundup: Sprout Pharma, DARA Bio, Viamet, & More”

Leica Microsystems To Acquire Duke Eye-Imaging Spinoff Bioptigen

Bioptigen, a medical device firm that developed and commercialized a non-invasive scanning technology for ophthalmic procedures, has caught the eye of a German diagnostics company now set to buy the startup. Leica Microsystems has announced a definitive agreement to acquire Morrisville, NC-based Bioptigen. The companies disclosed no financial terms for the deal. Bioptigen was founded … Continue reading “Leica Microsystems To Acquire Duke Eye-Imaging Spinoff Bioptigen”

BioDelivery Sciences Lands $20M to Prep for Drug Launch

BioDelivery Sciences International has added $20.7 million to its coffers as the specialty pharmaceutical company prepares for the commercial launch of its opioid addiction treatment. Raleigh, NC-based BioDelivery (NASDAQ: [[ticker:BDSI]]) secured the debt funding from MidCap Financial. BioDelivery’s total debt with MidCap now stands at $30 million. BioDelivery’s opioid addiction treatment is not a new … Continue reading “BioDelivery Sciences Lands $20M to Prep for Drug Launch”

Irritable Bowel Drugs Originally Developed by NC Firms Win FDA Nod

Irritable bowel syndrome symptoms range from abdominal pain to diarrhea, but for years, patients had no FDA-approved treatment to turn to for relief. That changes with the agency’s approval of two new drugs that were originally developed by North Carolina pharmaceutical companies. The FDA today approved Actavis’s (NYSE: [[ticker:ACT]]) eluxadoline (Viberzi), as well as rifaxamin … Continue reading “Irritable Bowel Drugs Originally Developed by NC Firms Win FDA Nod”

SynShark’s Biochemical Technology Tops AgBio Showcase

The path of a tiny Texas startup to the multi-billion dollar chemicals market crosses through the tobacco fields of North Carolina. If it’s successful, the company’s technology could also save the lives of millions of sharks. That’s the circuitous course charted by College Station, TX-based SynShark, a spinout from Texas A&M University. SynShark has developed … Continue reading “SynShark’s Biochemical Technology Tops AgBio Showcase”

Cree Sheds Light on IPO Plans for Power & RF Business

Cree, the LED lighting and semiconductor technologies company, is laying the groundwork to spin off one of its business units as a separate company, supported by an initial public stock offering. Durham, NC-based Cree (NASDAQ: [[ticker:CREE]]) disclosed Monday that it has confidentially filed documents with securities regulators for an IPO for the company’s Power & … Continue reading “Cree Sheds Light on IPO Plans for Power & RF Business”

Precision BioSciences Lands $26M for Gene-Editing Technology

The idea of modifying genes is heralded by some as holding the potential for new therapies addressing rare, genetic diseases, or producing agricultural products with certain desirable characteristics. Precision BioSciences believes that its technology can beat out other emerging gene-editing technologies and it has closed on $25.6 million to prove it. The Durham, NC, company’s … Continue reading “Precision BioSciences Lands $26M for Gene-Editing Technology”

NetSuite’s Bronto Buy Signals Coming Changes to Online Commerce

Bronto Software’s bread-and-butter business is helping companies understand what their customers browse and buy online—information that can then be used to nudge consumers to buy even more. This type of “marketing automation”—the ability to analyze consumer behavior in order to form targeted and personalized e-mail messages—primarily serves retailers. But the Durham, NC-based company has its … Continue reading “NetSuite’s Bronto Buy Signals Coming Changes to Online Commerce”

NephroGenex Preps $30M Stock Offering to Expand Kidney Drug Trial

Kidney disease drug developer NephroGenex (NASDAQ: [[ticker:NRX]]) is raising $30 million in a secondary stock offering to expand the late-stage clinical trial of its lead drug. In paperwork filed with securities regulators, the Raleigh, NC-based company says it expects to price the offering on May 7, after the markets close. NephroGenex’s lead drug, a pill … Continue reading “NephroGenex Preps $30M Stock Offering to Expand Kidney Drug Trial”

Kaiser Permanente Ventures Leads $12.5M Investment in Validic

The healthcare market continues to see a torrent of new apps, wearables, and medical devices, and digital health startup Validic is boosting its financial position to help healthcare providers connect with all this new technology. The Durham, NC, company says it has raised $12.5 million in a Series B round led by Kaiser Permanente Ventures, … Continue reading “Kaiser Permanente Ventures Leads $12.5M Investment in Validic”

NetSuite Boosts Commerce, Marketing Offerings With $200M Bronto Deal

Seeking to bring together commerce tools and marketing capabilities in a single cloud-based software offering, NetSuite is acquiring marketing software company Bronto Software in a $200 million cash and stock deal. The software platform of Bronto, a privately held Durham, NC, company, automates marketing campaigns and provides tools and analytics intended to help its customers … Continue reading “NetSuite Boosts Commerce, Marketing Offerings With $200M Bronto Deal”

Renewable Energy Efforts Take Root in North Carolina

With the growing season well underway, Sam Brake’s attention is focused mainly on the fields where he sees North Carolina’s biofuel future. The Department of Agriculture and North Carolina State University jointly run 18 agricultural research stations statewide that test various crops in different soil and climate conditions. Brake, an agricultural program specialist with the … Continue reading “Renewable Energy Efforts Take Root in North Carolina”