Regional News
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- Southern Capitol Ventures Closes New $15 Million Fund
- RTI International Acquires Ottawa-Based Palmer D'Angelo Consulting Inc.
- Trinity Convergence Acquires Swell Software
- InnerOptic Receives Phase IIB SBIR Grant from National Science Foundation
- AstraZeneca Will Proceed with Targacept in Developing Alzheimer's Drug
- US LEC Launches Firewall Service
Southern Capitol Ventures Closes New $15 Million
Fund
Raleigh-based Southern Capitol Ventures (www.southerncapitolventures.com)
has closed its second fund, Southern Capitol Technology
Fund II, LP. Oversubscribed and with more than $15 million
in subscriptions, the new fund will allow SCV to expand
its current portfolio of companies which include companies
like Art.com, Batanga, ChannelAdvisor, eMinor, Motricity
and Synthematix.
SCV is focused on providing capital and guidance to early-stage technology companies across the Southeast and Mid-Atlantic.
Southern Capitol Ventures is a CED member.RTI International Acquires Ottawa-Based Palmer
D'Angelo Consulting Inc.
RTP-based RTI International (www.rti.org),
an independent, nonprofit scientific research and technology
development corporation, has acquired Palmer D'Angelo Consulting
Inc. (PDCI) for an undisclosed amount. PDCI is a pharmaceutical
pricing and reimbursement consulting company based in Ottawa,
Canada.
The new unit will function as a wholly-owned subsidiary of RTI International as part of RTI Health Solutions, a business unit that provides research and services to the pharmaceutical, biotechnology and medical device industry.
RTI International is a CED member.
Trinity Convergence Acquires
Swell Software
Durham-based Trinity Convergence (www.trinityconvergence.com),
a leading provider of embedded software
solutions, has acquired Michigan-based
Swell Software for an undisclosed amount.
Swell Software products are used in
a variety of embedded applications,
including printers, MP3 players, handheld
GPS units, home security systems, medical
electronics and digital cameras.
Swell Software will maintain its current base of operations in Port Huron, Michigan and continue to develop, sell and support its entire product line of PEG+, C/PEG and PRESS software. The company's PEG+ GUI software has already been integrated into Trinity's VeriCall Phone Editions™ offerings, which provide complete and turnkey software platforms for OEMs designing VoIP and Video phones.
Trinity Convergence is a CED member.
InnerOptic Receives Phase IIB SBIR Grant from
National Science Foundation
Hillsborough-based InnerOptic (www.inneroptic.com)
has been awarded a one-year Phase IIB extension to its Small
Business Innovative Research (SBIR) grant from the National
Science Foundation, bringing the total award amount to $550,000.
The additional funds, which “match” (at 50%) a private-sector investment that InnerOptic has secured, will allow for continued development on the 3D Laparoscope, the focus of the Phase II project.
InnerOptic is a CED member.
AstraZeneca Will Proceed with Targacept in Developing
Alzheimer's Drug
Winston-Salem-based Targacept, Inc. (www.targacept.com),
a clinical-stage biopharmaceutical company, has announced
that AstraZeneca plans to continue development of AZD3480
(TC-1734) in Alzheimer’s disease and cognitive deficits
in schizophrenia.
AstraZeneca’s determination to continue development triggers a $20 million milestone payment to Targacept under the parties’ collaboration agreement. The announcement follows the completion by AstraZeneca of previously disclosed studies of AZD3480 (TC-1734).
Targacept is a CED member.
US LEC Launches Firewall Service
Charlotte-based US LEC Corp. (www.uslec.com),
a full-service provider of IP, data and voice solutions
to businesses and enterprise organizations, has launched
its Small/Medium Branch (SMB) Firewall service. This new
offering expands upon the success of its existing firewall
IP/VPN service and responds to the large customer demand
for a complete turnkey solution able to effectively service
small and medium branches and businesses with firewall protection.
Firewalls are designed to control traffic between a computer network and the Internet. US LEC already offers a virtual private network service to secure Internet traffic.
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