Posts tagged “Intersouth”
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.
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.
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.
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.
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.
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.
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.
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.
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.
Cempra Pharmaceuticals sells 8.4 million shares at $6 each. The pricing had been expected to be higher.
Deal making totaled only $325 million across 47 deals, the lowest total since 2005 when one excludes the recession year of 2009. Life science deals dominate the fourth quarter.
The Chapel Hill-based company wants to sell 6 million shares at a price between $11 and $13 a share. Its underwriters have the right to sell another 900,000 shares.
Investors in the Research Triangle Park-based medical device company include Aisling Capital, Intersouth Partners, Quaker Partners, SV Life Science Advisers, Synergy Life Science Partners and Parish Capital Advisors.
Cempra does not yet have any Food and Drug Administration-approved products. Its compounds are targeting an antibiotics market that according to Datamonitor totaled $19.6 billion in the United States, Japan and the five major European markets in 2009.
Adaptivity raises funds from Intersouth Partners, Noro-Moseley Partners and Intel Capital. The software firm also names a new chief technology officer.
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