Triangle

Cree announces Wolfspeed semiconductor division

September 2, 2015

(WRAL TechWire)

With a nod to N.C. State, where a group of students started Cree in 1987, the company has named its new power and radio frequency division Wolfspeed. The Durham-based LED manufacturer plans to spin off Wolfspeed in a public offering sometime before June 2016.

Raleigh OKs office tower in warehouse district

September 2, 2015

(WRAL.com)

Raleigh City Council approved a rezoning that will allow Kane Realty to build an office tower of up to 20 stories in the city's warehouse district. The structure will incorporate an existing Dillon Supply warehouse and include 210,000 square feet of office space and 260 apartments.The 2.5-acre site is adjacent to the Union Station transit hub, currently under construction.

Durham's Scioderm acquired for $229M

September 1, 2015

(The News & Observer, Raleigh)

New Jersey-based Amicus Therapeutics could pay up to $947 million for the Durham startup if Scioderm's experimental treatment for a rare skin disorder is approved by the FDA. Zorblisa is a skin cream used to treat Epidermolysis bullosa, which causes blistering rashes and affects 30,000 to 40,000 people.

Lenovo's Jay Parker resigns

August 28, 2015

(The News & Observer, Raleigh)

Jay Parker, who became senior vice president of Lenovo's enterprise business in March, has resigned. Parker joined Lenovo in 2007 and was previously president of North American operations. The No.1 PC-maker's North American headquarters are in Morrisville. The company announced this month it was laying off 3,200 workers worldwide, including 230 in the Triangle.

Raleigh's Ziptronix acquired for $39M

August 28, 2015

(WRAL TechWire)

Tessera Technologies, a Silicon Valley semiconductor company, paid $39 million for Raleigh-based Ziptronix, a company spun out of RTI International in 2000.

Danish drugmaker Novo Nordisk adding 691 jobs near Clayton

August 27, 2015

(The News & Observer, Raleigh)

Novo Nordisk will invest up to $1.7 million and add nearly 700 jobs at a new Johnston County plant. The drugmaker, which also considered its headquarters country of Denmark for the expansion, already employs 719 people in Clayton. The new plant will make ingredients for diabetes products. Jobs will pay an average annual salary of $68,420.

Durham digital printing company raises $25M

August 27, 2015

(The News & Observer, Raleigh)

Spoonflower plans to add at least 50 new employees after raising $25 million from investors, including Boston-based North Bridge Growth Equity and Durham's Bull City Venture Partners. The company, which had revenue of $15.3 million in 2014, allows customers to create and order custom-designed fabrics, wallpaper and gift wrap through its website.

Raleigh's Red Hat ranked No. 26 on list of innovators

August 26, 2015

(WRAL TechWire)

Raleigh-based Red Hat was named to Forbes magazine's "World's Most Innovative Companies" list for the third time. The Raleigh-based software company ranked No. 26; California-based automaker Tesla Motors was No. 1.

Durham's Hatteras Venture Partners raises $90 million

August 25, 2015

(The News & Observer, Raleigh)

Hatteras Venture Partners has raised over $90 million of a $150 million goal for its fifth fund. The Durham-based venture capital firm invests in seed- and early-stage life-sciences companies. Hatteras, whose partners include former Glaxo CEO Robert Ingram and former UNC Chapel Hill chancellor Holden Thorp, has about $350 million under management.

Johnston County courts major economic-development project

August 25, 2015

(The News & Observer, Raleigh)

Johnston County commissioners are expected to announce Wednesday an economic-development project that will create several hundred jobs. The county's incentive package includes the purchase of 95 acres of land that would be leased back to the company, whose identity will be revealed Wednesday.

Report released on Durham-Orange light-rail project

August 25, 2015

(The News & Observer, Raleigh)

A new report details ridership projections and other specifics about the proposed 17-mile light-rail line in Durham and Orange counties. The light-rail line, which would run from UNC Hospitals to Duke Medical Center, is expected to cost as much as $1.6 billion.

Glaxo sells multiple sclerosis drug to Novartis for $1B

August 24, 2015

(WRAL TechWire)

Novartis will pay $1 billion plus royalties for the rights to GlaxoSmithKline's experimental treatment for multiple sclerosis. GSK, which employs several thousand people in the Triangle, purchased Novartis' vaccines business earlier this year, while Novartis acquired GSK's oncology unit.

Raleigh's Sprout Pharmaceuticals is sold for $1 billion

August 21, 2015

(The News & Observer, Raleigh)

Valeant Pharmaceuticals will pay about $1 billion for Raleigh-based Sprout Pharmaceuticals, which this week received FDA approval for Addyi, a treatment for women with low sex drive. In April, Canada-based Valeant acquired Raleigh's Salix Pharmaceuticals for $11.1 billion. Sprout will remain headquartered in Raleigh.

RTP's AgBiome raises $34.5M

August 20, 2015

(The News & Observer, Raleigh)

AgBiome raised $34.5 million in venture-capital funding; investors included Syngenta Ventures and the Bill & Melinda Gates Foundation. The Research Triangle Park-based company is developing a natural fungicide that can be used by organic farmers. AgBiome, which employs 50 people, previously raised $17.5 million.

Chapel Hill drugmaker receives fast-track status for pneumonia treatment

August 20, 2015

(WRAL TechWire)

Chapel Hill-based Cempra was granted fast-track designation from the FDA for its antibiotic treatment for community-acquired bacterial pneumonia, one of the most common infectious diseases. Cempra's stock has increase more than sixfold since the company went public in 2012 and has more than tripled over the last year (Top 75 Public Companies, August).

Raleigh's Sprout to add sales positions to market new drug

August 20, 2015

(The News & Observer, Raleigh)

Sprout Pharmaceuticals says it will grow its workforce from 34 employees to more than 200 now that the FDA has granted approval for its female libido drug. Addyi will be available to women who have prescriptions for the drug by Oct. 17.

Raleigh drugmaker gains FDA approval for female libido pill

August 19, 2015

(The News & Observer, Raleigh)

The FDA gave approval on Tuesday for Addyi, Sprout Pharmaceuticals' drug for women with low sex drive. Raleigh-based Sprout expects to quadruple its workforce of 31, adding sales reps to promote the pill. Sprout has raised $100 million from private investors.

Chatham County approves two-year ban on fracking

August 19, 2015

(The Herald-Sun, Durham)

Chatham County commissioners approved a two-year moratorium on hydraulic fracturing. Chairman Jim Crawford said the practice poses a threat to the agriculture and agribusiness industries, which account for 38% of the county's income.

Apex earns top spot on Money magazine list

August 18, 2015

(The News & Observer, Raleigh)

Apex, in western Wake County, is the best place to live in among U.S. towns with populations of 50,000 or less, according to Money magazine. The magazine cited the town's affordable housing, proximity to universities and Research Triangle Park and "small-town charm."

GSK reopens Zebulon plant after brief shutdown

August 18, 2015

(The News & Observer, Raleigh)

GlaxoSmithKline reopened its Zebulon plant on Monday after a six-day shutdown. The United Kindgom-based drugmaker had temporarily closed the plant after discovering bacteria that can cause Legionnaires' disease in two of its cooling towers.