Triangle

Raleigh hospital changes name to UNC REX Healthcare

October 20, 2015

(News & Observer, Raleigh)

Raleigh-based Rex Healthcare has changed its named to reflect its 15-year-old affiliation with UNC Health Care. UNC REX Healthcare, with 680 beds and more than 5,600 employees, is the second-largest hospital in the UNC system.

Durham's Quintiles names new executive leaders

October 20, 2015

(WRAL TechWire)

Durham-based Quintiles named current CFO Kevin Gordon chief operating officer. Michael McDonnell, currently CFO of McLean, Va.-based satellite technology company Intelsat, will become chief financial officer of the contract-research organization in December.

Cempra shares tumble after report of adverse side effects

October 19, 2015

(The News & Observer, Raleigh)

Cempra shares fell 28% Friday after the Chapel Hill-based drug developer reported its experimental pneumonia treatment produced unexpected side effects in a clinical study. Shares closed at $19.29, down from $26.78 the day before. Cempra shares traded as high as $45 per share in late July.

Raleigh's Red Hat to acquire Durham software company

October 19, 2015

(WRAL TechWire)

Red Hat will acquire Durham-based software company Ansible in a deal worth more than $100 million. Ansible provides IT automation tools to help tech companies address increasing demand for speed and simplicity, according to its website.

Sprout's libido treatment could spur other similar drugs

October 19, 2015

(WRAL.com)

Addyi, the first drug approved to boost the female sex drive, could open the door for development of more drugs designed to increase sexual desire. Raleigh-based Sprout Pharmaceuticals received FDA approval for the drug in August; two days later Canada-based Valeant Pharmaceuticals said it was buying the drugmaker for $1 billion.

Triangle startups continue fundraising streak

October 16, 2015

(The News & Observer, Raleigh)

Triangle companies raised $131.5 million in the third quarter, bringing the total venture capital raised in 2015 to $327.9 million. That's more than the annual total of any year since 2008. Five companies raised more than $10 million, while three – Ascletis, AgBiome and Spoonflower – raised $25 million. Nationwide, venture capital investments were down 5% in the third quarter.

Cary manufacturer to reduce global workforce

October 16, 2015

(The News & Observer, Raleigh)

Cary-based Lord Corp. will cut an unspecified number of jobs due to slumping sales in some of its markets, which include defense, agriculture, oil and gas and construction. The industrial manufacturer didn't say which locations would be affected by the cuts. Lord employs 3,080 people worldwide, including about 400 in Cary.

SAS awarded $79M in damages in trial against British competitor

October 15, 2015

(The News & Observer, Raleigh)

A federal jury found that United Kingdom-based World Programming committed fraud and breach of contract when it reverse engineered portions of a SAS software product to create a knock-off product. Cary-based SAS will be entitled to collect more than $79 million in damages.

Durham approves $7.2M for tobacco warehouse redevelopment

October 15, 2015

(The News & Observer, Raleigh)

Durham city and county governments approved up to $7.2 million in incentives for Wexford Science & Technology to redevelop a former Liggett and Myers cigarette plant. Plans call for an $80 million investment that will include 284,000 square feet of commercial space plus offices, R&D and retail space.

Triangle investment firm raises $2.5M of $4M fund

October 15, 2015

(WRAL TechWire)

Triangle Angel Partners has raised $2.5 million of a $4 million fund, according to a securities filing. The Chapel Hill-based firm invests in early-stage companies based in the Triangle area. Previous investments include Wedpics, Windsor Circle and Stealz.

Food Lion invests $250M in Triangle market

October 14, 2015

(The News & Observer, Raleigh)

Food Lion says it has spent $250 million on employee training and renovations at 162 stores in the Raleigh area. Upgrades include expanded gluten-free, natural and organic offerings and larger produce sections. Food Lion's market share in the area is 19.5%, second only to Wal-Mart, according to Chain Store Guide.

SAS ranks 2nd on global 'Great Place to Work' list

October 14, 2015

(WRAL TechWire)

Cary's SAS Institute, the world's largest privately held software company, landed at No. 2 on the World's Best Multinational Workplaces list. California-based Google was No. 1.

Raleigh could loosen restrictions on food trucks

October 14, 2015

(The News & Observer, Raleigh)

Raleigh city staff is expected to draft a trial program for food trucks to operate on public streets. City council will consider the issue on Nov. 17. Food trucks are currently allowed to serve customers only on private property.

Dell buying major Apex tech employer EMC

October 13, 2015

(WRAL)

Computer maker Dell will buy EMC, a Massachusetts-based data storage company with a large presence in Apex, for about $67 billion. The companies said the combination will create the world's biggest privately held integrated tech company. EMC was awarded a state grant of up to $7.4 million when it announced the creation of 400 new jobs in 2009.

Automotive supplier adding 76 jobs in Lee County

October 13, 2015

(The Fayetteville Observer)

Magneti Marelli Powertrain will invest $12 million and create 76 jobs in Sanford over the next three years in an expansion of its local plant. The Italy-based company makes engines and transmissions components for cars, motorbikes and other light vehicles.

Durham's BioCryst reports disappointing drug-trial results

October 9, 2015

(The News & Observer, Raleigh)

Durham-based BioCryst Pharmaceuticals said Thursday it may discontinue development of one of its experimental drugs for a genetic condition that causes swelling, while frequent side effects marred a clinical study of another drug. BioCryst shares tumbled 18% Thursday.

Rooms to Go to open Dunn distribution center next week

October 9, 2015

(The News & Observer, Raleigh)

Rooms to Go will open a 1.5 million-square-foot facility that includes a distribution center and a retail outlet center in Dunn. The Florida-based company has filled about two-thirds of the 400 jobs it expects to create.

Novant to close Franklin Medical Center next week

October 8, 2015

(WRAL.com)

Franklin Medical Center stopped admitting patients at 6 p.m. Wednesday, though the emergency room will remain open until Oct.16. About 140 employees will lose their jobs. Novant Health had eliminated most inpatient care at the Louisburg hospital a year ago, reducing inpatient beds to 15 from 70.

Netsertive raises $15 million for expansion

October 8, 2015

(The News & Observer, Raleigh)

Morrisville-based Netsertive raised $15 million in a financing led by Cincinnati-based River Cities Capital Funds. The digital advertising company, founded in 2009, expects to add at least 50 employees to its 200 over the next 12 months.

Triangle scientists win Nobel Prize in chemistry

October 7, 2015

(WRAL TechWire)

A trio of scientists that includes professors at Duke University School of Medicine and UNC School of Medicine were awarded the Nobel Prize in chemistry for DNA work that can be used to develop cancer treatments.