Venture Update Vol. X, #11, November 2006
Done Deals
RTP – Cempra Pharmaceuticals, Inc. (www.cempra.com), an anti-infective biotechnology company, has added Aisling Capital as an investor, which brings its Series A financing to a total of $22 million. The company will use this first institutional financing to continue developing current compounds and expanding its product portfolio, as well as growing the company’s management team. Contact Prabhavathi Fernandes (919.467.1716).
Morrisville – FormScape Group Ltd. (www.formscape.com), a document process automation solutions provider, was purchased by New Hampshire-based Bottomline Technologies for $17 million in cash and $5 million in common stock. FormScape provides document process and financial transaction process automation software to more than 1500 customers that include CitiGroup, Wal-Mart, Wells Fargo, Phillips and Fujitsu. Kevin Donovan (603.501.5240).
Durham – Smart Online (www.smartonline.com), a local developer of Internet-based business software applications, has sold its Smart CRM subsidiary to Alliance Technologies for $2.3 million. The subsidiary company is a provider of customer relationship management software. Tom Furr (919.765.5000).
Morrisville – Advanced Liquid Logic (www.liquid-logic.com), a startup focused on the most miniscule measurement of fluids, is the first company to receive a loan through a new program launched by the North Carolina Biotechnology Center. The company, which is utilizing technology developed at Duke University’s Pratt School of Engineering, received $160,000 through the Biotech Center’s Strategic Growth Loan. Contact Richard West (919.402.1375).
Durham – Constella Group (www.constellagroup.com), a global provider of professional health services, will acquire RTP-based Lineberry Research Associates (LRA), a full-service U.S. contract research organization and consulting firm, for an undisclosed amount. Founded in 1995, LRA is a leading provider of regulatory affairs, medical writing, product development strategy, clinical trial management and data management services for pharmaceutical and biotechnology companies. LRA employs more than 75 people, all of whom will join Constella’s pharmaceutical product development business unit once the acquisition is complete. Sue Ann Pentecost (919.313.7601).
Raleigh – Business Leader (www.businessleader.com), the publisher of the Triangle area's only full-color monthly business magazine, has acquired Opportunity World and Money 'n Profits magazines for an undisclosed amount. As part of the transaction Business Leader, which publishes Business Leader magazine, The Park Guide, The Corporate Relo Guide, and Commercial Real Estate Today, will launch a national bi-monthly version of Business Leader in the first quarter of 2007. Slee Arnold (919.872.7077).
Durham – Bright Path Solutions (www.travelthepath.com) has merged with Toronto, Canada-based Publishing Smarter for an undisclosed amount. Both companies specialize in publishing consulting, training and other solutions for technology, manufacturing, retail, defense, aerospace and pharmaceutical clients. Contact Kay Ethier (919.244.8559).
Huntersville – Orthofix International N.V. (www.orthofix.com), a global orthopedic products company, has acquired Blackstone Medical, Inc. for an undisclosed amount. The combination of Orthofix's market-leading spinal bone growth stimulation business with Blackstone's broad array of fusion, non-fusion and biologic products creates a unique portfolio of spine products currently growing at more than 25% that is expected to generate approximately $260 million in revenues in 2007. Dan Yarbrough (704.948.2617).
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On The Up
Sensory Analytics
Greensboro, NC
Greensboro-based Sensory Analytics recently took home the People’s Choice Award at CED’s Tech Conference 2006. All 27 demo participants in attendance at Tech 2006 were eligible for the People’s Choice Award at the 16th annual conference, but conference attendees chose Sensory Analytics for its innovation in robotic measurement systems.
Going far beyond the reach of the conventional measuring tape and ruler, Sensory Analytics prides itself on its development of optical measurement, RF and related sensory solutions for color measurement, thickness measurement and control applications. As an industry leader, the company also provides information technology to global manufacturers looking to reduce their costs, while still increasing production.
Sensory Analytics provides measurement analysis superior to all current product offerings. The company specializes in manufacturing real-time, non-contact measurement eliminating destruction for thin films measurement, coatings measurement and precise color measurement.
Additionally, the company has direct customer experience in the aerospace, automotive, building materials, paper, medical and pharmaceutical industries. As a seasoned professional in the industry, Sensory Analytics is at the forefront of solving tomorrow's problems, today.
Recently, the company introduced SpecMetrix™, a portable measurement system that sets the standard in non-contact, non-destructive, real-time measurement of coating and film thickness.
Similar systems may only operate at the level of SpecMetrix™ in controlled environments. The new technology by Sensory Analytics gives new meaning to the words “user friendly” as it was designed considering that optimal conditions are not always available. The SpecMetrix™ system is easy to use in virtually any environment, wet or dry, in virtually any application, whether in the lab, in the field or on the factory floor and by virtually any operator tracking inspection parameters.
"Leading aerospace and automotive leaders can now streamline their anodize and coating measurement processes to the benefit of their bottom lines", stated Greg Frisby, CEO of Sensory Analytics. "The SpecMetrix™ is an invaluable tool for all lean manufacturing and advanced quality specialists seeking to increase efficiency and reduce labor costs."
Sensory Analytics is scheduled to showcase its expanding line of non-contact coating measurement solutions at numerous trade shows throughout the nation. The company can be next seen in the Anaheim Convention Center at the Aerospace and Testing Expo 2006 (www.aerospacetesting-expo.com) from November 14-16.
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New Developments
RTP – RTI International (www.rti.org), a non-profit research organization, has been selected to lead a five-year, $100 million project to integrate existing disease-specific treatment programs to targeted countries in Africa, Asia and Latin America by the U.S. Agency for International Development (USAID). These treatment programs currently treat millions of the world’s poorest people suffering from tropical diseases.Lisa Bistreich (919.316.3596).
Raleigh – Visitar (www.visitar.com), an interaction solutions company, announced a joint integrated CRM solution with Sylantro Systems based on the 360° Care viaVisitar solution. The partnership will provide Sylantro’s national network of service providers, resellers, and system integrators with an enhanced version of Visitar’s 360° Care viaVisitar, an affordable interaction solution for SMBs. Contact Janet Holt (919.261.9828).
Chapel Hill – The University of North Carolina at Chapel Hill (www.med.unc.edu) was invited to take part in the Cancer Genome Atlas project. The project is a collaborative, three year, $100 million pilot project to test using large-scale genome analysis technologies to identify important genetic changes involved in cancer. Contact Dianne Shaw (919.966.5905)
Durham – SciMetrika (www.scimetrika.com), a scientific research organization, has been awarded a contract worth $1.1 million, by the Environmental Protection Agency to study the effects of de-icing and anti-icing efforts on water facilities near airports. SciMetrika’s role will be to perform data management and statistical analysis support in this large study focusing on the effects of anti-icing and de-icing compounds on bodies of water near airports. The data that will be analyzed include surveys, databases from other agencies such as the FAA, data from field sampling, and laboratory data. Contact Jean G. Orelien (919.544.8988).
Burlington – Laboratory Corporation of America Holdings (www.labcorp.com) has signed a ten-year agreement with UnitedHealthcare Insurance Company. LabCorp executives expect the partnership to yield additional revenues in excess of $3 billion from UnitedHealthcare and associated business. Contact Scott Fleming (336.436.4879).
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In the Pipeline
Mark Your Calendar!
CED's
Venture 2007 Conference
April 23-24, 2007
Washington Duke Inn & Golf Club
Durham, NC
Biotech 2007 Conference
May 15, 2007
Durham Marriott at the Civic Center
Durham, NC
Venture Update is published by the
Council for Entrepreneurial Development (CED)
an entrepreneurial support organization located in the Research Triangle Park, N.C.
Robert Albright, editor
P.O. Box 13353, RTP, NC 27709
Phone: 919-549-7500
FAX: 919-549-7405
email: news@cednc.org