Three Deals Push North Carolina to $254 Million for Year

The deal flow slowed in North Carolina in September, down from seven in August to three. The money raised also dropped, to $7.6 million.
But a couple of other deals are in the process of closing, a hint that business might pick up through the fall.

So far through 2003, North Carolina firms have raised $254 million in 46 deals.

Through August of last year, North Carolina firms had closed on $314 million in 44 deals.

Chimerix ($3.1 million), eTrials ($2.5 million) and Oriel Therapeutics ($2 million) all closed on deals.

Here is LTW’s exclusive list of North Carolina venture deals, ranked according to the size of the investment:

Company; Sector; Amount (Round)

Investors: Quaker Bioventures, Intersouth, Johnson & Johnson Development Corp., Misui & Co., Dow Chemical, Dogwood Equity, Trelys Venture Partners, Wakefield Group, Kitty Hawk Capital, Franklin Street Partners, Tall Oaks Capital, Academy Centennial Fund.

2. TransTech Pharma, High Point; Pharmaceutical; $24 million (2nd)

Investors: MacAndrews & Forbes (lead), Cephaton and Novo Nordisk A/S

3. LipoScience, Raleigh, Life Science, $15 million (Series E)

Investors: Three Arch Partners, US Bancorp Piper Jaffray, GE Capital Equity Investments, INVESCO Private Capital, A.M. Pappas.

4. Targacept, Winston-Salem; Biotech; $14 million (2nd)

Investors: Nomura International Healthcare Private Equity Group (lead), Bison Capital, Cogene Biotech Ventures, JAFCO, Oxford Bioscience Partners and Rock Castle Ventures

5. Ziptronix, Morrisville; Hardware; $13.9 million (2nd)

Investors: Grotech Capital Group (co-lead), Intersouth Partners (co-lead), iSherpa Capital and MCNC Enterprise Fund

6. TranS1, Wilmington; Medical devices; $12 million (2nd)

Investors: Advanced Technology Ventures (lead), Cutlass Capital, Delphi Ventures and Sapient Capital

7. Nitronex, Raleigh; chips; $11.3 million

Investors: Alliance Technology Ventures, TPG Ventures and VantagePoint Venture Partners

8. Arsenal Digital Solutions, Cary; IT services; $10.5 million (4th)

Investors: Covestco, Southeast Interactive Technology Funds and Southern Cross Capital

9. Ephinay, Charlotte; IT services; $10 million (1st)

Investors: Chrys Capital

9. StemCo Biomedical, Durham; Biotech; $10 million (2nd)

Investors: Aurora Funds (co-lead), Intersouth Partners (co-lead), BD Ventures, Piedmont Angel Network, Tall Oaks Capital and Trelys Venture Partners

11. CipherOptics, Raleigh; IT services; $9.6 million (2nd)

Investors: Kodiak Venture Partners (lead), Axiom Venture Partners, New Tampa Technologies and Origin Partners

12. BioStratum, RTP, $9.5 million

Investors: Healthcap, BankInvvest, Li Ftaeknisjodurinn hf, Equity Resource

13. Optical Experts Manufacturing, Charlotte; Media; $8 million (1st)

Investors: Ballast Point Ventures, Frontier Capital and Harbinger Mezzanine

14. Venetica, Charlotte; Software; $7 million (1st)

Investors: Charles River Ventures and General Catalyst Partners

14. APEX Analytix, Greensboro; Software; $7 million (1st)

Investors: Wakefield, Noro-Moseley

16. Engenious Software, Cary, Software, $5.8 million (4th)

Investors: QuestMark Partners , GE Investments, Noro-Moseley Partners, Idanta Partners

17. Oculan, Raleigh; Networking; $5 million (4th)

Investors: Soros Equity Partners

17. VisionAIR, Castle Hayne; Software; $5 million (NA)

Investors: Banc of America Capital Investors (lead), Covestco, GE Capital and Southeast Interactive Technology Funds

19. MediaSpan Group, Durham; IT services/software; $4.5 million (1st)

Investors: Covesco-Seteura, Rustic Canyon Group and Southeast Interactive Technology Funds

20. HAHT Commerce, Raleigh; Software; $4.1 million (3rd)

Investors: Banc of America Capital Investors, Canaan Partners, CIBC Capital Partners and Granite Ventures

21. Kyma Technologies, Research Triangle Park; Hardware; $4 million (2nd)

Investors: Digital Power Capital and Siemens Venture Capital

21. Metabolon, Research Triangle Park, Life Science, $4 million (1st)

Investors: Aurora Funds, Trelys Ventures, Alexandria Real Estate Equities, plus individuals.

23. Parion, Life Science, Durham, $3.5 million
Investors: Albany Molecular Research, Inspire Pharmaceuticals, others.

24. Chimerix, Durham; Biotech; $3.1 million
Investors: Sanderling Ventures, Asset Management.

25. eTrials, Morrisville; Software; $2.5 million (1st)
Investors: Prodea, Infologix

25. XActional, Durham; Software; $2.5 million (1st)

Investors: Aurora Funds (lead), Intersouth Partners and NextPoint Partners

27. Oriel Therapeutics; Research Triangle Park; Medical devices
Investors: PPD, Trudell Medical International

27. Relativity Technologies, Cary; Software; $2 million (4th)

Investors: Noro-Moseley Partners and Wakefield Group

27. AvidXchange, Charlotte; Software; $2 million (2nd)

Investors: Charlotte Angel Partners, Piedmont Angel Network and and individuals

27. NuTech Solutions, Charlotte; Software; $2 million (3rd)

Investors: Individuals

27. Encelle, Raleigh; Biotech; $2 million (4th)

Investors: Intersouth Partners and North Carolina Enterprise Fund

27. Bright View Technologies, Chapel Hill; Media; $2 million (1st)

Investors: Tri-State Investment Group (lead), Charleston Angel Partners, Charlotte Angel Partners and Piedmont Angel Network

33. ChemCodes, Durham; Biotech; $1.8 million (3rd)

Investors: Intersouth Partners and Noro-Moseley Partners

34. RSS Solutions, Greenville; Software; $1.6 million (1st)

Investors: EdgeStone Capital Partners

35. LiveWire Logic, Morrisville; Software; $1.5 million (3rd)

Investors: Gray Ventures and Research Triangle Ventures

36. Trinity Security, Charlotte; IT services; $1.5 million (1st)

Investors: Venture Capital Solutions

37. Synthematix, Durham; Software; $1.25 million (2nd)

Investors: Catalysta Partners and individuals

38. ISIC, Cary; Hardware; $1 million (Seed)

Investors: Academy Funds and MCNC Seed Fund

38. Tranzyme, Research Triangle Park; Biotech; $1 million (2nd)

Investors: Shin Nippon Biomedical Laboratories

40. iReadyWorld, Charlotte; IT services; $650,000 (4th)

Investors: Total Technology Ventures

41. Springboard Managed Hosting, Cary, Web and IT Services, $500,000.

42. Metabolon Pharmaceuticals, Research Triangle Park; Biotech; $300,000 (Seed)

Investors: Aurora Funds

43. Noverant, Raleigh; Software; $266,000 (Seed)

Investors: Research Triangle Ventures and individuals

44. Coventor, Cary; Hardware; $250,000 (5th)

Investors: Wakefield Group

45. StrikeIron, Raleigh; Software; $150,000 (Seed)

Investors: Aurora Funds

46. International IT Services, Raleigh; IT services; NA (1st)

Investors: WellFound Technology