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Serenex Raises $30 million in Third Round VC Funding
Durham-based Serenex (www.serenex.com), a drug discovery company focused on oncology research, has raised $30 million in third round funding from venture capital firms. Serenex also signed an agreement to license a drug to treat the effects of chemotherapy.

The latest fundraiser brings the total amount raised by the company since its inception to $55 million. Serenex raised $15 million in second round funding in August 2002 and $2 million in its first round in June 2001. The company also raised $8 million in an add-on round of funding in summer 2004. Ritchie Capital, an asset management and venture capital firm, was the lead investor, joined by existing investors Intersouth Partners of Durham, Lilly Ventures, Mediphase Venture Partners, Takeda Research Investment and Seaflower Ventures.

Serenex is a CED member.

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Clinication Receives First Institutional Investment
RTP-based Clinication, Inc. (www.clinication.com), a software company focused on reducing patient noncompliance, has received its first institutional funding from Synectic Asset Ventures of Vancouver, WA. Clinication will use the funding to accelerate sales and marketing efforts.

Clinication is the developer and publisher of an innovative Web- and cell phone-based Patient Adherence Management System. The system provides secure, web-based patient/clinician communication and disease- management tools which encourage adherence, monitor status, and empower a dynamic exchange of information between the healthcare provider and the patient, promoting cost-containment, increased revenues, improved outcomes, and an effective care- management partnership.

Clinication is a CED member.

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Smart Online Acquires Computility Inc. in $4.2 Million Deal
Durham-based Smart Online (www.smartonline.com), a provider of software-as-services for small and medium sized businesses, has completed its purchase of Iowa-based Computility, Inc, in a deal worth $4.23 million in Smart Online stock.

Smart Online issued 484, 213 shares to acquire the assets of Computility, Inc., a provider of Web-based sales force automation and customer relationship management applications. Smart Online plans to integrate Computility's SFA and CRM software into its existing OneBiz Conductor™ platform to provide a more expanded suite of integrated applications that automatically updates and maintains sales, customer, and financial information across all applications. In addition, Smart Online expects to retain Computility's key employees and existing operations in Des Moines, Iowa.

Smart Online is a CED member.

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Tekelec Completes Acquisition of Santera
Morrisville-based Tekelec (www.tekelec.com), a leading developer of telecommunications products for next-generation fixed, mobile and packet networks, has completed its $75.6 million acquisition of the minority interest in Santera, whose media gateway and softswitch have been the cornerstone of next-gen Class 4, Class 5, wireless, and wireline solutions to tier-one operations. Tekelec's Income Statement will reflect 100 percent ownership of Santera beginning in the fourth quarter of 2005.

With this acquisition, Tekelec expands its leadership in the next-generation switching market, helping operators to deliver advanced, revenue-building services and to guide their transition to tomorrow's network technologies.

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Constella Group Wins $325 Million Global Contract to Expand HIV/AIDS and Family Reproductive Health Services
Durham-based Constella Group (www.constellagroup.com), a leading global provider of professional health services, has received a contract from the United States Agency for International Development with a potential value of $325 million. The initial task order is valued at $100 million.

As part of the contract, Constella will provide health policy development and implementation services to benefit people in developing countries worldwide. Working with civil societies and government partners, Constella will help third world countries to develop national policies designed to improve family planning and reproductive health, HIV/AIDS healthcare, and safe motherhood programs and services.

Constella Group is a CED member.

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NC Companies Selected for Southeast BIO’s Seventh Annual Investor Forum
Southeast BIO (www.sebio.org), a regional non profit organization that fosters the growth of the life sciences industry in the Southeastern U.S., has selected 32 companies from across the Southeast to participate in its Seventh Annual Southeastern BIO Investor Forum. The North Carolina-based companies selected to present include AlphaVax, Inc., Alveolus, Inc., Glenveigh Pharmaceuticals LLC, Metabolon, Inc., ParinGenix Inc., SCYNEXIS, Inc. and StemCo Biomedical, Inc. Other selected early-stage companies from North Carolina include Curry Pharmaceuticals, Ercole Biotech, Inc. InnerOptic Technology, Inc., NanoCor Therapeutics, Inc., and Phase Bioscience, Inc.

SEBIO 2005, which will be held November 30-December 2, in Charleston, South Carolina, is the Southeast’s premier life sciences venture capital conference. The two-day event will focus on research, market, and financing trends with leaders from the investment and biosciences industries. Participants will include biotechnology executives, entrepreneurs, venture capitalists, investment bankers, and other industry professionals. Presenting companies, which have completed at least one round of institutional financing, will make presentation to an audience of venture capitalists and angel investors on the main day of the conference.

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SciQuest Partners with Actio
RTP-based SciQuest, Inc. (www.sciquest.com), a leading provider of on-demand supplier and materials management solutions, has partnered with Hampton NH-based Actio (www.actiocms.com), a provider of chemical lifecycle cost-effective management applications.

As part of the agreement, SciQuest will offer Actio's Chemical Profile Database (CPD) and MSDS Vault as an enhancement to SciQuest's Chemical Manager product. Actio will resell SciQuest's supply chain solutions, including Chemical Manager, to supplement its suite of CLM products, providing the industry's first cradle-to-grave solution to their clients. The partnership will provide various benefits, including reducing the cost associated with managing chemical inventory and ensuring regulatory compliance.

SciQuest is a CED member.

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Summus Inks Deal with FoneStar Media
Raleigh-based Summus, Inc. (www.summus.com), a leading provider of mobile media applications, is partnering with FoneStar Media, a leading mobile content provider, to distribute its wallpaper content to 20 countries worldwide.

The partnership will allow the distribution of Summus’ products to over 655.5 million subscribers across the world. FoneStar will also distribute the content through 39 carriers in these areas as well as through two well-advertised portals that have an audience of over 100 million users per month.

Summus is a CED member.

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TransTech Pharma Receives Milestone Payment from Novo Nordisk
High-Point based TransTech Pharma, Inc. (www.ttpharma.com), a privately held clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of human therapeutics to fill unmet medical needs, has received a milestone payment from its collaboration partner, Novo Nordisk, a focused healthcare company and the world leader in diabetes care, as a result of progress made with a drug candidate resulting from their collaboration.

The compound was first discovered during a strategic research collaboration between the two companies utilizing TransTech's proprietary small molecule discovery engine TTP Translational Technology®. TransTech could receive additional milestone payments as well as royalties on sales if the program continues through commercialization.

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Events Update

7/21 Fast 50 Nominations Deadline
8/1 Tech 2006 Demo Application Deadline