2005 Deal of the Year
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Raleigh-based Closure Medical designs, develops and manufactures a number of medical adhesives and delivery devices based on a proprietary medical-grade cyanoacrylate technology for specific applications in wound care and wound closure. Closure, which pioneered the development of its technology from the idea stage to a company, was recently acquired by the largest healthcare corporation in the world (Johnson & Johnson) for $426 million. Due to the success of Closure, the Biosurgical Center of Excellence for Johnson & Johnson will be housed at the Closure Medical facility in the Triangle.
Durham-based Motricity (formerly PowerByHand, which merged with Pinpoint Networks in 2004) is a leading provider of mobile content solutions. The company raised $27 million in venture funding in October 2004. Motricity’s large financing round, one of the largest deals of the year in the Southeast, was led by Silicon Valley-based Technology Crossover Ventures (TCV). Existing investors also participated in this round, including New Enterprise Associates, Intel Capital, Massey Burch Capital, Noro-Moseley Partners and Wakefield Group. Since 2001, Motricity has followed an aggressive growth strategy through a number of acquisitions and mergers.