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- Symyx to Acquire Synthematix for $13 Million
- BioDelivery Sciences International Raises $2.5 Million
- Art.com Finalizing $30 Million Series A
- Icagen Begins Enrollment for Phase III Sickle Cell Trials
- Chorus Systems Signs Agreement with Alphanumeric Systems
- Inlet Technologies Brings Fathom Into Professional Video Channels
- Qualyst Receives $100,000 Collaborative Funding Grant
- UNC's Mark Crowell Named President of Association of University Technology Managers
Symyx to Acquire Synthematix for $13 Million
California-based Symyx Technologies, Inc. (www.symyx.com) has signed a definitive agreement to acquire privately held Synthematix, Inc. (www.synthematix.com), a provider of fully integrated software solutions for chemists based in Research Triangle Park.
Under the terms of the agreement, Symyx will pay approximately $13 million in cash to acquire all outstanding shares of Synthematix based on current revenue outlook, plus an addition potential earn out of up to $4 million over a one year period based on achievement of incremental revenue targets. Synthematix is supported by a broad base of investors, including Catalysta Ventures and Southern Capitol Ventures of Raleigh.
Synthematix is a CED member.
Southern Capitol Ventures is a CED member.
BioDelivery Sciences International Raises $2.5 Million
BioDelivery Sciences International, Inc. (www.biodeliverysciences.com), a specialty biopharmaceutical company with offices in New Jersey and Morrisville, N.C., has closed a $2.5 million secured convertible debt financing from Laurus Master Fund, Ltd. (www.laurusfunds.com). Financing proceeds will be used primarily to retire BDSI's existing secured equipment loan with Hold Bank, to support research, development and commercialization opportunities and for general working capital purposes.
BioDelivery Sciences is a specialty biopharmaceutical company that is exploiting its licensed and partner-owned patented drug delivery technologies to develop and commercialize clinically-significant new formulations of proven therapeutics, nutraceuticals and micronutrients. The company's principal laboratory is located in Newark, New Jersey, and the company also has operational and administrative offices in Morrisville, North Carolina.
Art.com Finalizing $30 Million Series A
Raleigh-based Art.com (www.art.com), a leading online retailer of art, is in the process of finalizing a $30 million Series A round led by Polaris Venture Partners of Massachusetts. Raleigh-based Southern Capitol Ventures also contributed to the funding round. The company will use the funds to expand operations and development.
Founded in 1995, Art.com sells prints, posters, photographs, pre-framed art, original art and photography and custom framing. In addition to selling art, the company offers services such as framing and laminating. Art.com employs approximately 200 people.
Art.com is a CED member.
Southern Capitol Ventures is a CED member.
Icagen Begins Enrollment for Phase III Sickle Cell Trials
RTP-based Icagen Inc. (www.icagen.com) will enroll up to 300 people in a Phase III trial of a sickle cell disease drug. The study will be conducted at about 60 sites across the U.S. and in selected countries.
Icagen, which went public in early February, is a drug-discovery company developing small molecule drugs that modulate ion channel targets. The company is working on three other compounds for epilepsy and neuropathic pain, atrial fibrillation and dementia. Icagen is also conducting ongoing drug discovery programs focused on new therapeutics for pain and inflammatory disorders and glaucoma.
Icagen is a CED member.
Chorus Systems Signs Agreement with Alphanumeric Systems
RTP-based Chorus Systems (www.chorussystems.com), a provider of automated IT problem management solutions and developer of the PreDix management software, has signed a value-added reseller (VAR) agreement with Raleigh-based Alphanumeric Systems (www.alphanumeric.com), a provider of technology solutions to public and commercial clients. Additional terms of the agreement were not disclosed.
Chorus Systems has developed PreDix, an automated problem management software solution directed at the IT Service Management marketplace. PreDix detects, diagnoses and responds to problems within desktop and server environments. Through analytics and automation, PreDix reduces support costs and increases customer satisfaction for MSPs, enterprise, educational, and government service desks. The company presented at CED's Venture 2004 Conference last year.
Chorus Systems is a CED member.
Alphanumeric Systems is a CED member
Inlet Technologies Brings Fathom Into Professional Video Channels
Raleigh-based Inlet Technologies (www.inlethd.com), a provider of professional encoding solutions for high-definition content creation and distribution, has announced the launch of a comprehensive channel program to bring Inlet Fathom™, a hybrid software and hardware solution for VC-1/Windows Media High Definition Video content creation, to post-production markets.
Jeff Burgess and Associates (JB&A), a leading supply chain management provider to the professional video industry, has been named the North American distributor for Inlet's Fathom. JB&A will promote Inlet's solution to their network of qualified professional video resellers, enabling these resellers to tap into the growing market for VC-1/WMV HD encoding applications. Inlet was recently selected to present at CED's Venture 2005 conference in April.
Inlet Technologies is a CED member.
Qualyst Receives $100,000 Collaborative Funding Grant
The North Carolina Biotechnology Center (www.ncbiotech.org) and the Kenan Institute have awarded a two-year $100,000 collaborative funding grant to Qualyst Inc. The company will use the grant money to fund Dr. Hongbin Wang's research of high throughput mechanisms to predict drug-drug interactions. Qualyst, which spun out of research conducted at UNC-Chapel Hill's School of Pharmacy in 2001, was recently selected to present at CED's Venture 2005 conference in April.
Qualyst is a CED member.
UNC's Mark Crowell Named President of Association of University Technology Managers
Mark Crowell, UNC Chapel Hill's associate vice chancellor for economic development and technology transfer, was recently named president of the board of trustees for the Association of University Technology Managers (AUTM), a leading premier professional organization focused on helping academic technology transfer professionals meet such challenges. Crowell, who also directs UNC's Office of Technology Development, and other board members will oversee the association's efforts to provide professional development and networking opportunities for technology transfer professionals in both established and newly forming organizations worldwide. The association also seeks to build understanding of how academic technology transfer improves quality of life and promotes economic development.
Crowell's duties at UNC also include overall responsibility for the university's technology transfer and economic development activities, including the coordination of a research campus development project of almost 1,000 acres. Prior to assuming his current position at UNC in September 2000, Crowell spent eight years as associate vice chancellor for technology transfer and industry research at North Carolina State University and five years as director of the Office of Technology Transfer at Duke University. Crowell currently serves on CED's Board of Directors.
UNC-Chapel Hill is a CED member.