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Ganymede Closes on $5.5 Million in Venture Funding


Morrisville-based Ganymede Software closed on $5.5 million in venture funding. Investors included Triangle-based TriState Investment Group, and New England-based Canaan Partners and Pioneer Capital.

Ganymede, developer of software to test and measure network systems, plans to use the funds to finance the launch of its new product, Pegasus. The software product monitors the performance of a company's client/server network and alerts systems managers to potential problems.

Founded in 1995 by four former IBM employees, the company now has 90 employees. Ganymede generated $4 million in sales last year and expects revenue to surpass $12 million this year.

Lipomed Receives Endorsement from American Heart Association




Raleigh-based Lipomed, developer of a test that serves as an affordable way to obtain a more detailed breakdown of the cholesterol in lipoproteins including the size of the lipoproteins, received support from the American Heart Association for its tests.

In a press release, the Association named Lipomed's cholesterol test as a better way to project a person's risk of heart disease. The tests currently used measure the amount of cholesterol in lipoproteins but not the size of the lipoproteins themselves. According to a study published in the July issue of the Journal of the American Heart Association, knowing that size "may lead to more accurate risk assessment."

Lipomed hasn't begun selling its test but plans to make it available to Triangle physicians next month. Lipomed expects the price of its tests to be comparable to "lipid panel" tests currently used to analyze cholesterol, which typically cost $40 to $60.

The company will perform its initial tests for Triangle doctors at its offices across from WakeMed. Lipomed already is doing tests on a trial basis for the Duke University and University of North Carolina at Chapel Hill medical centers.

Show off Your Company's Hot New Products in the Software '98 Demo Room--Applications Due July 24th




Information technology companies interested in "demoing" their products can apply now for a spot in the Software '98 Demo Room on October 16th 1998. Investors, corporate business development officers, media, potential employees and others are among the 400+ attendees who will test-drive your software products and learn more about your company. Space in the Demo Room is limited, and the 25 best products will be selected on a competitive basis. For more information or an application, contact Tawnya Louder-Reynolds.

Seeking Early Stage Financing? Apply Now For STREAK, CED's Venture Forum




Are you seeking early stage capital for your growing company? Apply now for STREAK, CED's venture forum that provides young potential high-growth companies with access to mentors, potential investors and increased visibility. Application deadline is July 25, 1998.

STREAK is designed for entrepreneurs with exciting ideas who will be seeking an early round of capital in the next six months and who can demonstrate equity investment potential. Prospective STREAK candidates must submit an application and executive summary to be considered for the program. Two companies will be selected each month to submit their business plan to a four person mentoring team consisting of investors, legal advisors, CPA's, experienced entrepreneurs and marketing experts. The team will study the business plan, and the entrepreneurs will give a "behind closed doors" presentation to the team. The team will then candidly critique the business plan and presentation, make recommendations, and will provide ongoing mentoring for the company. Two companies per quarter will be selected to present at a large quarterly event attended by potential investors and partners, financiers and others involved in the entrepreneurial funding process.

For more information, contact Suzanne Cantando at CED.

New Members--Get Networked into CED on July 23rd


Date: July 23rd
Time: Noon - 1:30 p.m.
Location: Interpath Communications, RTP
Fees: None -- Registration Required
Contact: Heather Quinn Register: http://www.cednc.org/applications/new_member.html

New members are invited to join CED staff and members at bimonthly new member orientations. Take the opportunity to network with veteran members, meet the staff, and learn more about what CED has to offer, as well as tell us more about your business. New CED members are encouraged to attend a New Member Orientation within their first six months of membership but are welcome anytime. Orientations are hosted by CED members around the Triangle area.