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Red Hat Forms Nonprofit Center


Red Hat is using $8 million in funding to form a nonprofit center to back open source. The center, which is being led by Chief Technology Officer Marc Ewing, will be funded with $8 million in donated cash and Red Hat stock. The center's goal will be to spread open-source software to a variety of scientific and educational projects.

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CatchTheWeb Enterprise Launched at Online World '99


Math Strategies announced the launch of CatchTheWeb Enterprise, a product for Web research collaboration, at Online World '99 in Chicago. Greensboro, NC-based Math Strategies is a provider of software for manipulating published information. CatchTheWeb Enterprise, which is available both as a service over BellSouth.net and as licensed software, enables members of a group to capture and store valuable information they find on the Web.

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LipoMed's Otvos Honored for Cholesterol Test


Jim Otvos, chief scientific officer of LipoMed, of Raleigh, was honored with the $100,000 prize for developing the NMR LipoProfile, a cholesterol-testing process that improves a doctor's ability to determine a patient's risk of heart disease. The NMR LipoProfile goes beyond standard profiles of blood cholesterol which measure the abundance of LDL (bad) and HDL (good) cholesterol in the blood. Otvos has found an easier method to measure the size of lipoproteins that carry cholesterol. The LipoProfile test can analyze a blood sample in less than a minute and has been available to a select group of cardiologists around the country since January.

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webslingerZ, Inc. and N.C. Zoo Collaborate


webslingerZ, Inc. and the North Carolina Zoo today announced the launch of "The Red Wolves of Alligator River," the second in a series of collaborative educational websites whose goal is to further the Zoo's conservation message. The site is now available on the Web at: http://www.nczooredwolf.org. Patterned after the successful, award-winning website "The Elephants of Cameroon," the new site focuses on the reintroduction of red wolves in Eastern North Carolina. Other partners in this project include the N.C. Zoological Society, the U.S. Fish and Wildlife Service, the Red Wolf Coalition, the Chatham County Schools, and Carolina Biological Supply.

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Inspire Completes $12,400,000 Private Placement


Inspire Pharmaceuticals completed a $12.4 million private placement of preferred stock in its third round financing led by New Medical Technologies of Switzerland and Calif.-based InterWest Partners. Funds raised in this round of financing will be used to accelerate clinical development programs and to advance several new compounds across a range of therapeutic targets. Durham-based Inspire has raised a substantial amount of venture capital, totaling $32.5 million after the latest funding. DBusiness.com reports that an initial public offering of stock is expected to be issued sometime in 2001.

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Tavve and Unisys Form Strategic Alliance


Tavve Software has formed its first strategic alliance with a major corporate partner, Unisys, a computer-services company. According to "The News & Observer", Michael Tschirret, director of marketing and product manager for Tavve, predicted that the three-year agreement could generate $30 million or more in revenue. Morrisville-based Tavve's software products allow companies to analyze how well their computer networks are performing, troubleshooting when something goes wrong. Unisys will incorporate Tavve's performance and fault management products, including its soon-to-be-released tsc/eProbe, into the services it offers and to sell Tavve's products separately.

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Pequot Funds Performaworks


Performaworks, formerly Mediappraise, raised $3 million in venture capital from Pequot Capital Management of Westport, Conn. The Raleigh-based company has also hired a new chief executive officer and has moved into new office space. Michael Plant, co-founder of Performaworks and its vice president for business development, said the company plans to start a sales and marketing campaign to boost its evaluation software.

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Brader-Araje Joins Noro-Moseley


Michael Brader-Araje, the chairman and second largest shareholder of OpenSite Technologies, has stepped down as the software company prepares to go public. Brader-Araje will join Atlanta-based Noro-Moseley Partners entrepreneurs-in-residence program next month. He will help the venture capital firm coach start ups and keep an eye on Triangle companies, while remaining on OpenSite's board and serving the company as a consultant.

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Events Update




November 9th — Entreforum: How to Herd Cats: a.k.a. Techniques for Managing Your Board

November 10th — FastTrac Information Session

November 10thd — InfoTech Roundtable: The New Look of Intellectual Property

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