Local Tech Wire

DURHAM, N.C. – , a worldwide provider of services to life science firms, is taking a $2 million ownership stake in Australia-based

Prana, which is based in Melbourne, said Monday that Quintiles had agreed to buy $2 million worth of shares in the firm. Prana trades on the Nasdaq under the symbol PRAN.

The company plans to use the funds to advance to Phase II clinical trials a proposed treatment for Alzheimer’s Disease.

Prana is selling 225 million shares in all.

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