In today’s RTP headlines roundup:

  • The news and Observer reports in detail about new funding for Rex Health Ventures – and how the fund works
  • The Business Journal looks into what’s happening at HQ Raleigh
  • Xconomy reports on how Argos Therapeutics plans to raise up to $60 million

The details:

  • Another $8 million for Rex Health Ventures

Reporter David Ranii of The News and Observer takes an in-depth look at how the Rex Health Ventures fund operates along with providing the news that the venture fund has received a commitment for another $8 million to make life science startup investments.

“The board of directors at Rex, which is part of the UNC Health Care System, has authorized the fund, Rex Health Ventures, to reinvest the $8 million that it has already reaped from its investments. That decision was made a few months ago but wasn’t publicized,” Raniii reports.The fund has made eight investments to date, five of which are in the Triangle:

Aerial BioPharma, baebies, Midnight Pharma, Phononic and Target PharmaSolutions.

Read more at:

http://www.newsobserver.com/news/business/article66001012.html#storylink=cpy

  • What’s up at HQ Raleigh?

Lauren Ohnesorge of the Triangle Business Journal reports that HQ Raleigh still plans to move ahead with expansion plans in Raleigh. But exactly what the plan is “still unclear.”

“[C]o-founder and executive director Jason Widen said the plan is in the process of changing again– though not, he says, due to finances or a lack of interest on the part of HQ. Without being specific, he said the new building will likely be less than the five-stories envisioned last year,” TBJ reports.

On Monday, Ohnesorge reported that “HQ co-founder, Sharefile entrepreneur Jesse Lipson, said the team was considering “a few different options” for the West Street site.”

Read more at:

http://www.bizjournals.com/triangle/blog/techflash/2016/03/hq-raleighs-plans-for-west-street-remain-fluid.html

  • Argos Therapeutics looks to raise funding

Argoes Therapeutics (Nasdaq: ARGS) has put in place plans to raise as much as $60 million to fund future clinical development of its proposed immune system-based kidney cancer treatment.

Frank Vinluan reports at Xconomy that the “private placement financing should provide the company enough cash to last until it reaches a pivotal milestone: final Phase 3 clinical trial results for its cancer immunotherapy, AGS-003. The company expects those results will be reported in the second quarter of next year.”

Argos already has lined up six backers.

Read the details at:

Argos Nabs Up to $60M to Continue Kidney Cancer Treatment Work