Triangle

Proto Labs adding 170 jobs in Cary

June 19, 2015

(The News & Observer, Raleigh)

Proto Labs will invest $25 million in a new Cary facility and add 170 jobs over the next five years. The publicly-traded, Minnesota-based company acquired Raleigh-based FineLine Prototyping, a 3-D printing company, in April 2014 and currently employs 106 in Raleigh.

Tech entrepreneur starts Cary-based venture-capital fund

June 19, 2015

(The News & Observer, Raleigh)

David Gardner, who has founded or co-founded seven startups, has raised $10 million – with commitments for another $2 million – for Cofounders Capital, a Cary-based venture-capital fund that will invest in Triangle-based software companies.

Chatham agrees to store coal ash for $19M

June 17, 2015

(The News & Observer, Raleigh)

Duke Energy will pay Chatham County almost $19 million in exchange for allowing the utility to store up to 12 million tons of coal ash at a landfill in Moncure.

Durham's Chimerix raises $173 million

June 17, 2015

(The News & Observer, Raleigh)

Durham-based Chimerix raised $173 million in a stock offering. The drug developer offered 4.34 million shares priced at $39.75 each. Chimerix plans to use the funds to finance ongoing clinical trials for its antiviral drugs.

Blue Cross and Blue Shield to offer Triangle-only health plan

June 16, 2015

(The News & Observer, Raleigh)

Blue Cross and Blue Shield will launch a lower-cost ACA health-insurance plan available only to residents of seven counties in the Triangle. Costs were not disclosed, though the company said monthly premiums under the limited-network plan will be about 15% lower than its most comprehensive state plans.

HQs exit Triangle as M&A activity heats up

June 15, 2015

(The News & Observer, Raleigh)

Since December, Four Triangle-based companies – Salix Phamaceuticals, Square 1 Bank, Stock Building Supply and The Pantry – have announced they are being acquired or merging with other companies, causing hundred of layoffs and leaving the area with fewer headquarters.

Maker of 'female Viagra' raises $50M

June 12, 2015

(WRAL TechWire)

Raleigh-based Sprout Pharmaceuticals raised $50 million from investors in New York and Connecticut to help it prepare for the launch of its drug designed to boost the female libido. Last week, an FDA advisory committee recommended approval of the drug.

Chimerix looks to raise $150M in stock offering

June 11, 2015

(The News & Observer, Raleigh)

Chimerix plans to raise up to $150 million in a public stock offering, expected to close on June 16. The Durham-based drug developer plans to use the proceeds for research and development and general corporate purposes.

Microsoft acquires Morrisville software company

June 11, 2015

(WRAL TechWire)

Microsoft has acquired BlueStripe Software, a Morrisville-based provider of application management technology, according to a blog post Wednesday. Financial terms weren't disclosed.

NC IDEA awards grants to five startups

June 10, 2015

(WRAL TechWire)

Durham-based nonprofit NC IDEA awarded grants totaling nearly $250,000 to five North Carolina-based startups. Recipients include a Cary-based online shoe club and a Raleigh-based coding tool for educators.

Morrisville rock-climbing club earns national recognition

June 10, 2015

(The News & Observer, Raleigh)

Morrisville's Triangle Rock Club was named the U.S. Chamber of Commerce's 2015 DREAM BIG Small Business of the Year. Started in 2007, the company operates rock-climbing facilities in Morrisville, Raleigh and Fayetteville.

Chapel Hill's Pozen moving headquarters to Ireland

June 9, 2015

(The News & Observer, Raleigh)

Chapel Hill-based Pozen will acquire Tribute Pharmaceuticals Canada for $146 million and will reincorporate in Ireland, which has a lower corporate tax rate. The company will change its name to Aralez Pharmaceuticals. Pozen will receive $300 million from investment-management firm Deerfield to establish the new company and support the launch of Yosprala, a treatment for heart disease and stroke patients.

Durham's Patheon plans to go public

June 9, 2015

(The News & Observer, Raleigh)

Durham-based Patheon, a contract pharmaceutical manufacturer, is looking to raise up to $100 million in a public offering. The company, which went private last year when it merged with Netherlands-based DSM Pharmaceutical Products, reported revenue of $1.7 billion in 2014 and employs 8,700 worldwide.

Raleigh apartment complex sells for $45.8 million

June 9, 2015

(The News & Observer, Raleigh)

Boston-based AEW acquired north Raleigh's Bainbridge Six Forks apartments for $45.8 million, or about $172,000 per unit. Florida-based The Bainbridge Companies was the seller of the 266-unit complex.

Durham startup signs $1.2B deal with Boston company

June 8, 2015

(The News & Observer, Raleigh)

Parion Sciences has signed a licensing agreement worth up to $1.17 billion with Boston-based Vertex Pharmaceuticals. The two companies will develop an inhaler designed to slow the advance of cystic fibrosis. The Durham-based startup has no products on the market.

Cree recalls 700,000 LED lamps

June 5, 2015

(WRAL TechWire)

Durham-based Cree recalled 700,000 LED lighting tubes due to a burn hazard. The 4-foot tubes, which were manufactured in China, were sold as replacement lamps for fluorescent lighting.
Read more about Cree in BNC's May issue

FDA panel recommends approval of female libido drug

June 5, 2015

(The News & Observer, Raleigh)

An FDA panel voted to approve Raleigh-based Sprout Pharmaceutical's drug designed to boost the female sex drive. The drug, originally introduced as a depression treatment, was rejected twice earlier.

Raleigh's Stock Building merging with Atlanta company

June 4, 2015

(The News & Observer, Raleigh)

Raleigh-based Stock Building Supply is merging with an Atlanta-based building materials company. The combined company will be the second largest lumber and building-supplies distributor in the United States. Shareholders of Building Materials Holding will own 60% of the company; Stock's shareholders will own the rest.

DENR investigates violations at coal-ash sites

June 3, 2015

(The Sanford Herald)

The N.C. Department of Environment and Natural Resources cited two companies for permit violations at a proposed coal-ash storage site in Chatham County. The companies failed to obtain a required stormwater permit and violated other rules related to site preparations. Duke Energy plans to store up to 12 million tons of coal ash at the Moncure site. Following the discovery of the violations, the state agency expedited plans to visit a proposed coal-ash site in Lee County.

CFO of Rex Healthcare takes job in Florida

June 3, 2015

(The News & Observer, Raleigh)

Bernadette Spong, who had recently been promoted to chief financial officer at Raleigh-based Rex Healthcare, is leaving to become CFO of Orlando Health. Former CEO David Strong left Rex in April to lead the 8-hospital system in Florida. Erick Hawkins, vice president of heart and vascular services, will replace Spong as CFO of Rex.