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Salix Pharmaceutical Raises $14.1 Million


According to LocalBusiness.com, Raleigh-based Salix Pharmaceuticals Ltd. has raised approximately $14.1 million through a private placement of about 2.26 million shares of common stock. Salix, which develops and markets drugs that treat gastrointestinal diseases, said it plans to use the money to launch its drug COLAZAL in the first quarter and to fund a drug that's in clinical trials. Salix also announced that the Nasdaq Stock Market has approved Salix's request to trade under the symbol "SLXP" as part of the Nasdaq SmallCap Market.

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Longleaf Venture Fund Closes $26 Million Venture Fund


Charlotte-based Longleaf Venture Fund has closed with $26 million that it plans to invest in statewide early-stage startups over the next three years, according to LocalBusiness.com. The venture fund will invest in seed and early-stage companies that are primarily associated with North Carolina's research universities. Longleaf extended its mission to serve companies across the state after the venture fund received investments from Bank of America Securities and the North Carolina State Pension Fund.

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Quokka Closes Total Sports Acquisition


San Francisco-based Quokka Sports, a sports entertainment company for the digital marketplace, has completed its acquisition of Raleigh's Total Sports. Quokka Sports announced in July a definitive acquisition agreement to acquire Total Sports, but the actual acquisition was not finalized until recently. Under the terms of the agreement, Quokka issued approximately 15 million shares of common stock in exchange for all of the capital ownership of the privately held Total Sports. Founded in 1997, Total Sports is an online sports media company that owns and operates the Total Sports Network featuring live coverage of sporting events.

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Centura Capital Invests $850,000 in United Emergency Services


LocalBusiness.com reported that Durham-based United Emergency Services, which staffs hospital emergency rooms with doctors, has received an $850,000 investment from Charlotte's Centura Capital. The investment is a combination of equity and debt that is cheaper for the company than equity, but more expensive than a straight bank loan, company officials said. United Emergency Services plans to use the money to cover the costs of providing doctors to emergency rooms under several contracts while it waits for payment.

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Alphanumeric Launches Subsidiary NetCritical


According to the Business Journal, Raleigh's Alphanumeric Systems has launched a subsidiary focused on high performance Internet sites and corporate gateways. Called the NetCritical Group, the subsidiary was formed to focus entirely on emerging technologies that deliver Internet based applications. Officials at Alphanumeric said the NetCritical Group will design, implement and support e-business solutions, including such things as content acceleration and firewall design and implementation.

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HiddenMind Adds Three Companies to Partnering Program


Hoping to capitalize on the expanding wireless applications market, Cary-based HiddenMind, Inc., has announced three additions to its Mobile Business Solutions (MBS) partner program. Apar Infotech, IVC and Olabs have joined existing HiddenMind partners to distribute "enterprise based wireless solutions." Hiddenmind established the MBS program to help the company's partners develop mobile solutions for a Java-based software development platform called HiddenLogic. The software platform is central to HiddenMind's efforts in the wireless applications market.

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SciQuest, CambridgeSoft.com Ink Partnership


Durham-based scientific supply company SciQuest.com announced a multi-year partnership with CambridgeSoft.com, an Internet chemistry software and tool provider. The alliance will help SciQuest enhance its Web-based chemical database and functionality, giving researchers the ability to search more accurately. By incorporating CambridgeSoft.com's chemical structure management technology into SciQuest's private marketplace offering, scientists will be able to narrow their selection of chemicals using multiple search parameters relevant to the target structure.

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Events Update




December 7th — CED Info Session

December 7th — Executive Series

December 11th — Biotechnology Roundtable

December 13th — InfoTech Roundtalbe

December 14th — Streak Luncheon

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