WRAL Tech Wire

 Advanced Animal Diagnostics raises $6M in new funding

Intersouth Partners, Novartis and other investors pour $6 million in new funding into Durham-based Advanced Animal Diagnostics for launch of two products.

 Semiconductor firm HexaTech wins $2.2M federal contract for new type of chips

HexaTech, a venture capital backed company, wins federal funding to develop a new kind of chip for the nation's power grid.

HexaTech graphic explains its chip focus

 Intersouth puts more money in Florida genetics startup

Durham-based Intersouth Partners joins four other investors as part of a $37.5 million B round of financing for Applied Genetic Technologies.

 Raleigh 'cloud' startup seeking $4M in new financing

6fusion, which is backed by Intersouth partners, has raised $2 million in a mix of debt and options financing. The company hopes to raise $2 million more.

6fusion's "Cube" concept for managing the "cloud"

 Chapel Hill drug startup Vascular Pharma raises $16M

The company also strikes a deal to sell the firm after a future clinical trial to Janssen Biotech. Intersouth Partners, MPM lead the first round of financing for Vascular, which is focused on development of treatments for diabetes complications.

Vascular Pharma

 Semiconductor firm HexaTech raises $500,000 in debt financing

The venture capital backed startup, which has been funded locally by Intersouth Partners and NCIDEA, is commercializing technology developed at NC State.

HexaTech graphic explains its chip focus

 Can reborn Zenph strike winning chord this time?

Venture capital firm Intersouth Partners keeps faith in Zenph Sound Innovations, which shut down and was reborn as Online Music Network.

 Startup Zenph relaunches as music online learning platform

Backed by $900,000 in new financing with Intersouth Partners as the lead investor, a new company emerges from the assets of Zenph Sound Innovations.

 Zenph Sound Innovations reboots as Online Music Network

According to an SEC filing and Intersouth Partners, Zenph has raised $450,000 and is going forward with a new business plan.

 Despite surge in tech startups, VCs see little chance of a 'bubble'

With all the recent programs rolling out to support the launch and growth of new companies, funding remains scarce. If nothing else, lack of cash will keep a damper on entrepreneurs' hopes of flaming beyond control.

 Biotech firm Biolex, which raised $160M, seeks bankruptcy

The biotechnology firm, backed by Intersouth Partners which is owed some $5 million, has been seeking to development treatments for hepatitis C. Biolex raised $60 million in 2008 in one of the state's biggest venture capital deals. It tried and failed to go public that same year.

Biolex worker eyes lemna plants.

 Shine on: Durham solar firm Semprius cracks MIT top 10 tech list

The startup company's leading-edge solar technology "could soon make electricity cheaply enough to compete with power plants fueled by coal and natural gas," says the Massachusetts Institute for Technology in its annual "most important technology milestones" list.

Semprius' solar panel technology

 Argos Therapeutics raises $25M after withdrawing IPO

The Durham-based drug development firm lands a new investor as well as more backing from Intersouth and Aurora Funds. The deal follows Argos' recent decision to terminate plans to go public.

Argos process

 Biolex sale is an option, CFO tells Triangle Business Journal

The company is looking for drug-development partners but a sale is possible, chief financial officer says.

 Triangle may draw interest from more life science investors

Talk can be cheap, of course, and investors who look to Research Triangle Park have been pretty predictable over the years. But some new faces showed up at the CED Life Science Conference - and some familiar ones returned.

 Argos Therapeutics aims for as much as $79M in IPO

The Durham based venture capital-backed firm estimated an IPO price of between $13 and $15 per share. Some 5.25 million shares will be offered.

Argos process

 $40M Aldagen deal is no quick exit for its investors

Aldagen, who had tried twice to go public only to withdraw both times amid poor market conditions, gets a partner interested in developing its stem cell treatments. Cytomedix gains prospective regenerative medicine therapies for its pipeline. But a payoff remains in the future and depends on drug trial results.

Aldagen's pipeline

 Durham stem cell firm Aldagen sold for up to $40M

Regenerative medicine company Cytomedix has acquired the venture-capital backed company in a $16 million stock deal plus millions more in stock options. Aldagen investors include Intersouth and Aurora Funds.

A purified STEM cell

 RTP broadband firm Overture, minus two top execs, launches new look

The global provider of Ethernet related broadband services shortens its name, creates a new logo and revamps its websites. The changes come in the post-Hatteras Network merger, and among the recent moves is the departure of the former Hatteras CEO.

Overture's new logo

 CH-based Cempra goes public, raises $50M; shares close up 6 cents

Cempra Pharmaceuticals sells 8.4 million shares at $6 each. The pricing had been expected to be higher.

Cempra