Write this name down as a possible big play in North Carolina’s life science industry:

“X-Co Holdings, LP”

Just in time for the return of the “X Files” on Fox, a mysterious “X-Co Holdings” company has emerged from the shadows in Wilmington, N.C. X-Co has numerous links to PPD and its private equity owners.

But what is the truth?

WRAL TechWire reached out to PPD for information about what’s going on.

The privately held firm, which has a major presence in RTP, didn’t respond to the request.

(Note: Here’s an update about PPD spinning off X-Chem.)

So here’s what we know, based on an SEC filing:

X-Co has raised $71 million in equity.

Judd Hartman, who filed the Form D for “X-Co Holdings,” is general counsel for PPD.

Three other names on the filing are linked to Caryle Group and Hellman & Friedman.

Research by a source notes that the three are “onPPD’s board and are investors/employed by PPD’s owners: Carlyle Group LP and Hellman & Friedman LLC.”

They are:

  • Joe Bress – VP at The Carlyle Group
  • Ram M. Jagannath – Principal at The Carlyle Group
  • Stephen Ensley – Director at Hellman & Friedman

We will update this story as more information becomes available.

Rumors have been circulating for weeks that PPD might be sold – or return to the public markets.

Is X-Co part of that strategy?

The plot thickens ….