Business

Cancer care pays off for famed Raleigh investor

March 3, 2016

A Cary-based cancer-drug supplier was among two companies fetching $1.2 billion from McKesson Inc., a big health care products distributor. The sale marked a payday for Raleigh investor James Maynard, best known for his Golden Corral restaurant chain.

4 Triangle universities team up to boost startup funding

March 3, 2016

(WRAL TechWire)

Duke, UNC Chapel Hill, N.C. State and N.C. Central are forming the Triangle Venture Alliance, which will work with alumni to establish a network of angel investors for startups. The alliance has received a $250,000 federal grant to kickstart the effort.

Greensboro developer plans downtown skyscraper

March 3, 2016

(News & Record, Greensboro)

Greensboro developer Roy Carroll has completed the purchase of a downtown lot where he is planning an $80 million project that could include retail space, a hotel and offices.

Judge dismisses lawsuit against Pappas

March 3, 2016

(The News & Observer, Raleigh)

A Superior Court judge dismissed a lawsuit filed against A.M. Pappas & Associates by former Chimerix CEO Kenneth Moch. Moch's lawsuit contended he was the victim of an "extortion scheme" after the Durham venture-capital firm filed a libel lawsuit against Moch, claiming he sent disparaging emails to Pappas' investors. That case is still active.

Triangle CROs ramp up hiring, compete for workers

March 2, 2016

(The News & Observer, Raleigh)

Quintiles, INC Research and PRA Health Sciences added more than 5,000 workers worldwide last year, including several hundred in North Carolina, as biotechs and pharmas are discovering they can save money by outsourcing clinical trials and other services to contract-research organizations.

NC State alumnus gives $1M to launch startup fund

March 2, 2016

(WRAL TechWire)

Robert "Chip" Andrews and his wife, Lyn, have donated $1 million to launch a fund for entrepreneurs at N.C. State University. Additionally, an accelerator program is planned. Andrews is former CEO and chairman of FMI Corp. and is on the board of trustees at N.C. State.

Honeywell drops bid for United Technologies

March 2, 2016

(The Charlotte Observer)

Honeywell is walking away from its $90 billion offer to buy Connecticut-based United Technologies, which employs about 500 in the Charlotte region. The aerospace company had rejected the offer last week, saying the deal would never be cleared by antitrust regulators.

Yadkin, NewBridge complete merger

March 2, 2016

(Greater Wilmington Business Journal)

Raleigh-based Yadkin Financial completed its acquisition of Greensboro's NewBridge Bank, creating a combined company with assets of $7.3 billion and 110 branches in the Carolinas.

Asheville's Biltmore Park a boon for South Buncombe

March 2, 2016

(Asheville Citizen-Times)

Retail space is 90% full, while office space is 95% full at the 10-year-old, 1,000-acre Asheville development owned by Biltmore Farms. The company owns an adjacent 100 acres for future development. The area includes 650 single-family homes, 120 apartments and 72 condos. About 2,000 people live and work in the 43-acre Town Square, an urban village that is the commercial core of Biltmore Park.

Charlotte-based Siemens exec to retire

March 2, 2016

(The Charlotte Observer)

Mark Pringle, vice president of Siemens' Charlotte Energy Hub, will retire March 31. The Charlotte plant has undergone a $350 million expansion and its workforce has doubled since Pringle, a Pittsburgh native, took over management in 2003.