Posts tagged “Pappas”
The lack of diversity among the ranks of professional venture capitalists and their companies has been a disgrace for years. Finally, the National Venture Capital Association is launching a "Diversity Task Force." But like the technology industry on which it focuses, the NVCA has a lot of work to do to change its almost-all white, male labor force. By the way, a Durham VC is serving on the group.
Chelsea Therapeutics has agreed to be purchased by Danish global drug company Lundbeck for up-front cash and milestone payments to shareholders. The total depends on whether Chelsea's newly approved debut drug meets expectations when it hits the market. The buyout caps a stellar run for Joseph Oliveto, a former executive at Pappas Ventures in Durham.
Facebook shares hit record; Pappas promotion; ChannelAdvisor execs on road; Google ferries workers; Samsung's new 'eye' phone
In our Bulldog blog's regional tech and life science news update: Facebook shares are at a record high; Pappas Ventures names a new partner; ChannelAdvisor execs hit the road to talk business; Google to ferry workers to the Valley; Samsung's new phone may include eye recognition.
CoLucid has raised more than $41 million in venture funding since its launch in 2005. Pappas Ventures, which is based in the Triangle, launched the company. Funds raised a year ago were targeted for use in a Phase 3 trial of its lead candidate.
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.
Lumena's investors are venture capital firms Pappas Ventures and RiverVest Venture Partners. The new capital means the company can proceed to human tests for its novel type 2 diabetes treatment, which aims to develop a pill to help patients regulate their blood sugar.
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 Cary-based company has closed on a fundraise of $4.8 million that the company will apply to its portfolio of central nervous system drug candidates, chiefly TriRima, which is set to complete phase 2b trials early next year. Existing investors Perseus Soros Biopharmaceutical Fund, L Capital Partners, Pappas Ventures and Omega Funds all participated in the latest round. CeNeRx has raised more than $55 million to date.
There is no shortage of companies angling for financial backing of new therapies and diagnostics in personalized medicine. But will challenges of regulations, reimbursements, costs and technical requirements be overcome?
At the Durham-based venture capital firm's annual life science symposium, guests hear the inside story about California-based Plexxikon, its $935 million acquisition and personalized medicince drive led by CEO Peter Hirth.