In WTW’s latest roundup of securities filings and other Triangle news:

  • Target PharmaSolutions strikes deal with Bristol-Myers Squibb

CHAPE HILL – Target PharmaSolutions has made a deal with Bristol-Myers Squibb to extend their drug development deal.

Target is working with the drug giant to develop treatments for fibrosis. The agreement includes a multi-year observational study called TARGET-NASH that evaluates patients with nonalcoholic fatty liver disease (NAFLD) or nonalcoholic steatohepatitis (NASH). More than 2,300 patients have been enrolled at 55 sites.

“We believe this is a testament to the long-term value the TARGET model generates for our industry partners throughout the development and commercialization process, including benefits for Research, Clinical, Regulatory, Medical Affairs, Commercialization, Marketing, Health Economics and Outcomes groups,” said Target PharmaSolutions CEO Meg Powell.

  • BioDelivery Sciences reaches settlement with Teva Pharmaceutical

By Addison Lalier, NCBNW

RALEIGH – BioDelivery Sciences International Inc. has settled a lawsuit that accused Teva Pharmaceutical Industries Ltd. of violating its patents, according to a filing with the Securities and Exchange Commission.

The settlement ends BioDelivery’s patent litigation against Teva regarding Bunavail, a medication for the treatment of opioid dependence.

BioDelivery Sciences is a specialty pharmaceutical company focused on pain management and addiction medicine. The company’s products address serious conditions, including: cancer pain, chronic pain and opioid dependence.

According to BioDelivery, Teva’s generic form of Bunavail, pursuant to U.S. Food and Drug Administration approval, infringed upon several U.S. patents owned by BioDelivery Sciences.

As part of the settlement, the company has entered into a non-exclusive license agreement with Teva that permits Teva to begin selling its generic version of Bunavail in the U.S. in 2028. Other terms of the agreement remain confidential.

The settlement is subject to review by the U.S. Federal Trade Commission and the U.S. Department of Justice.

BioDelivery shares closed Thursday at $2.92, up 0.85 percent.

  • Raleigh-based Silbo raises $100,000

By Emily Brice, NCBNW

RALEIGH – Silbo Inc, a North Carolina-based company, sold $100,000 in a private stock offering, according to a Securities and Exchange Commission filing.

The company filed the Form D on Oct. 11, and it did not disclose what it intended to do with the funds.

Silbo has created a mobile app that allows referees and umpires to browse game opportunities. This allows them to take control of their schedules and build their careers. The app also offers instant online payment and feedback for its users.

Co-founder Brendan Szulik graduated from Duke University in 2011, majoring in linguistics, and is currently earning a M.B.A. from UNC-Chapel Hill’s Kenan-Flagler Business School.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.