TechJournal South
Header

Archive for the ‘Alabama’ Category

Investors rain $49M on Tower Cloud for wireless backhaul

Wednesday, October 5th, 2011

Tower cloudTower Cloud Inc., a wireless backhaul services provider, has secured $49 million in additional equity to fund its expansion into new markets throughout Florida, Georgia, South Carolina, and Alabama.

The latest round of funding was led by two of Tower Cloud’s existing investors, The Burton Partnership and Knology Inc. Tower Cloud’s other existing institutional investors include: Sutter Hill Ventures, El Dorado Ventures, Ballast Point Ventures, Kinetic Ventures, ITC Partners Fund and Noro-Moseley Partners.

For this round, two new investors joined the consortium, The Florida Growth Fund and CLR Investors. The funding was done in two phases with $13 million completed in January and $36 million completed in July. This funding follows a $20 million equity commitment by the same investor group in October 2009.

Wireless infrastructure firm 11i Solutions closes $1.89M bridge financing

Wednesday, March 23rd, 2011

11i SolutionsHUNTSVILLE, AL – 11i Soluitons, a wireless infrastructure and solutions provider, has closed on a $1.8 million convertible bridge financing. Steel Pier Capital Advisors led the round.

11i Solutions, Inc. was founded in 2007 to deliver enterprise-wide security, compliance, data and communications services.

The company says it streamlines clients’ wireless systems as a whole by anticipating new technologies and avoiding short-term obsolescence. With a wide range of solutions offered – from asset tracking via radio frequency identification (RFID) and fixed mobile convergence to data centers and Secure Cellphone Communication

Alabama-based Momentum Telecom dials in $10M financing

Wednesday, February 23rd, 2011

Momentum TelecomBIRMINGHAM, AL – Momentum Telecom Inc., via MBS Hodlings, has raised $10 million in equity financing from seven investors, according to a regulatory filing. Momentum focuses on providing voice telecom service and dialup Internet to 150,000 customers in the Southeast.

Momentum Telecom is a profitable and cash flow positive company headquartered in Birmingham, AL. Momentum provides local telephone, long distance and data service to businesses and families in a nine state southeastern region (Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee).

For an interview with Momentum CEO Alan Creighton with Wall Street Reporter Magazine that discusses how Momentum differs from some other telecom firms, see: www.momentumtelecom.com/MTNews/WSR_interview.pdf.

The company disclosed the financing in a filing with the US Securities and Exchange Commission.

Among the executives and directors cited as principals in the filing are: William Feathergill, Birmingham investor; William Acker III, founder and principal at Private Capital Corp.; Charles Caldwell; Harold Dunn; James Davis; and William Fox III.

TechJournal South is a TechMedia company. TechMedia presents the annual conferences:

SoutheastVentureConference: www.seventure.org

Internet Summit: www.internetsummit.com

Digital East: www.digitaleast.com

Digital Summit: www.digitalsummit.com

Cracks in cyber security reveal gaping holes in our digital defenses

Tuesday, December 14th, 2010

By Allan Maurer

InZero device

The InZero security device

RESEARCH TRIANGLE PARK, NC – Cybersecurity still seems to be an afterthought among everyone from McDonald’s to Gawker Media, not to mention the U.S. government and military. Too many entities worry about digital security only when it is breached.

Great business strategy that. Apparently, even giving your email address to a publication such as Gawker or to McDonald’s during one of its promotions, can expose your private data these days. Both admitted to serious security breaches as 2010 ends, while many Twitter accounts – including mine – were hacked by someone selling Acai for weight loss this week. Probably because I used the same password for both sites (see: Spammers Exploit Gawker) on Gawker, where I commented maybe once.

TechJournal South had its own problems with a hacked ad server a few months back and had to shift to another. Two major ad networks were hit with a similar problem this week.

And most of those security breaches were relatively minor in the scheme of things. Many more serious ones have already occurred and we have little doubt are to come.

But coming on the heels of the WikiLeaks fracas, these breaches all show a laxness about cybersecurity that I think is increasingly dangerous on the part of commercial enterprises, government agencies and the military, not to mention to each of us personally.

The problem is partly inherent in the open, accessible nature of the Internet. The very ease with which we swim the Internet’s electron sea makes us vulnerable to sharks. Still,the bad guys, be they foreign hacker crews backed by their own governments, malware creators, spammers, scammers or plain old crooks, actively hack away at us, while credit card companies, government agencies, and businesses remain all too often re-active.

We can’t win the cybersecurity battles that way.

It is absolutely necessary – probably for all of us, but certainly for government and commercial entities – to actively combat this problem. Harden passwords, be careful about what we put on thumb drives or pick up on them, shred documents with sensitive data, and find and use security systems not so easy for cyber criminals to break through.

I’ve noted one approach that seems to be powerful, that of using a security device separate from other equipment that acts as a lockbox preventing suspicious or actual malware and other intrusions from ever reaching operating systems. See: Herndon-based firm grabbing media attention for security device. And: NZero keeps the bad guys out.

Meanwhile, Panda Security of Orlando, which provides antimalware software in the cloud rather than on individual machines, has listed the top ten cyber security threats it sees for 2011.

See also: WikiWars: The Face of future conflicts.

There are contrary views. Over at InformIT, Gary McGraw & Ivan Arce explain how the current climate of exaggeration and FUD surrounding cyber attacks does not ultimately serve the best interests of computer security research in Cyber Warmongering and Influence Peddling.

Email TJS Editor Allan Maurer: Allan at TechJournalSouth dot com.

Six lessons for creating successful virtual teams: lesson #1

Tuesday, December 14th, 2010

Virtual Team Success coverThe office of the future might not be an office at all. As virtual teams become more prevalent, we edge ever closer to a culture where “work” means logging in to your company’s online project management site from your home or collaborating with people who each work for different teams or functions at their local co-working establishment.

“Company headquarters” is becoming more of a concept than an actual building. And as physical location becomes less important, companies can hire the best talent regardless of their location. In addition, companies can enhance their efficiency by handing off work across time zones, enabling them to be productive around the clock.

Especially in the Internet company start-up culture and in early-stage biotechnology companies, virtual teams are increasingly prevalent.

But far too often, say Darleen DeRosa and Rick Lepsinger, this vision of the global economy workplace falls short of today’s reality. In other words, virtual teams may be increasingly popular…but they’re not necessarily successful.

“Today it isn’t uncommon for companies to have as many as 50 percent of their employees working on virtual teams,” says Lepsinger, coauthor along with Darleen DeRosa of Virtual Team Success: A Practical Guide for Working and Leading from a Distance (Jossey-Bass/A Wiley Imprint, 2010, ISBN: 978-0-470-53296-6, $50.00, www.onpointconsultingllc.com).

“Our research finds that many organizations recycle the same guidelines and best practices they use for their co-located teams and hope for the best,” says DeRosa. “Frankly, that just doesn’t work. Virtual teams and face-to-face teams are the proverbial ‘apples and oranges’—and leaders who recognize this fact are the ones whose teams succeed.”

To help organizations maximize their investment in virtual collaboration, OnPoint Consulting conducted a study of forty-eight virtual teams to understand the success factors of top performing virtual teams. Surprisingly, 27 percent of virtual teams in the global study were not fully performing. Given these results, the authors recognized the need for a resource that could help organizations and leaders enhance virtual team performance—and so they wrote Virtual Team Success.

Through the study, the authors recognized that virtual teams regularly fall victim to four pitfalls:

Lack of clear goals, direction, or priorities—Because it is tougher to communicate with and inform team members who are geographically dispersed, it is often difficult to keep all team members focused on the same goals, especially over time.

Lack of clear roles among team members—In virtual teams, it is especially important for team members to clearly understand their individual roles and how their work impacts other team members.

Lack of cooperation and trust—Because there is a lack of face-to-face contact inherent in virtual teamwork, the process of establishing trust and relationships that lead to group cooperation can be very arduous. Over time, this lack of collaboration can lead to a lack of trust amongst team members.

Lack of engagement—With virtual teams, people can easily become bored and “check out” because there is a lack of dynamic face-to-face interaction and because there are more distractions.

Eliminate these pitfalls and a team’s chances for success greatly increase. Below DeRosa and Lepsinger identify six lessons—excerpted from the book—for creating successful virtual teams.

We’ll be presenting the rest of the lessons tomorrow, including a reprise of Lesson 1, below.

Lesson #1: Focus on people issues. Essentially, successful teaming depends largely on the effective interaction of team members. Virtual teams need to compensate for the inherent lack of human contact by supporting team spirit, trust, and productivity. The authors identify warning signs that indicate that a team’s “people issues” need more attention.

“You may notice that team members work independently and do not reach out to other team members to collaborate,” says Lepsinger. “You may also notice that an ‘us versus them’ mentality has developed between locations or sub-groups. The truth is, when everyone is engaged and communicating, it is much easier to succeed as a virtual team. When team members build relationships with one another, it prevents people issues from taking over and impacting team efficiency.

Lesson #1 in Action:

  • Develop a team web page where virtual team members can share information and get to know one another.
  • Create ways for team members to interact and communicate informally. Use real-time communication tools like Instant Messaging or social media sites such as Facebook or Twitter to create a virtual water cooler of sorts that allows people on virtual teams to communicate more spontaneously.
  • Build a collective online “resource bank” to share information and experiences.
  • Find ways to “spotlight” team members.
  • Send electronic newsletters or updates to the team.
  • Create ways to virtually celebrate successes as a team
  • Partner team members at different locations on projects and rotate these periodically.

Darleen DeRosa, Ph.D., is a managing partner at OnPoint Consulting. Darleen brings more twelve years of management consulting experience, with deep expertise in the areas of talent/succession management, executive assessment, virtual teams, and organizational assessment. Her client list includes Accenture, Bayer Pharmaceuticals, Daiichi-Sankyo, Gerdau Ameristeel, and Johnson & Johnson.

Richard Lepsinger is president of OnPoint Consulting and has a twenty-five-year track record of success as an organizational consultant and executive. His client list includes Bayer Pharmaceuticals, Citibank, Coca-Cola Company, ConocoPhillips, Goldman Sachs, Johnson & Johnson, NYSE Euronext, PeopleSoft, Prudential, and Subaru of America, among many others

Tomorrow: the other five lesson.

Alabama-based Agenta nabs $1.1M NIH grant

Thursday, November 11th, 2010

AgentaBIRMINGHAM, AL – Agenta Biotechnologies Inc., based in Birmingham, has received a $1.1 million grant from the National Institutes of Health and National Institute of Dental and Craniofacial Research for the further development of a biologically activated membrane to improve soft tissue healing associated with oral surgery. This grant is funded by the Small Business Innovative Research (SBIR) program of the NIH and is the second such award received by Agenta.

Agenta’s novel technology leverages specialized protein molecules that enhance growth factor activity and promote healing through a variety of known mechanisms. The company believes that these potential therapeutics may have application in the healing of bone, cartilage, skin and discs in the spine, as well as serving as coatings for vascular stents and implants.

“Eventually these improvements in spine and vertebral disc treatments may allow for repair without surgery and may also yield improvements in skin healing caused by burns, age, sun damage and diseases including diabetes,” said Arthur DeCarlo, D.D.S., Ph.D., president and Chief Executive Officer of Agenta.

In partnership with Bonenta Inc., Agenta is currently applying its technology to the development of therapeutics for enhanced bone healing in the skull, and for growth of essential new bone in the jaw and around teeth.

Using funds from a previous NIH SBIR grant directed at bone repair, the companies have already reported positive pre-clinical data and are preparing for FDA interactions as the next step toward human clinical trials. “Encouraging preclinical results suggest that our technology may lead to improvements in how well, and how fast, bones and implants heal,” said Dr. DeCarlo.

SEBIO names life science firms presenting at its Investor Forum

Wednesday, October 20th, 2010

SebioATLANTA – Southeast BIO (SEBIO), a regional nonprofit organization dedicated to fostering the growth of the Southeast’s life sciences industry, has named the best life sciences deals in the Southeast, as determined by a Selection Committee comprised of regional and national venture capitalists.  These companies, both early- and later-stage, will participate in the upcoming SEBIO Investor Forum being held on November 3-4, 2010 at the Ritz-Carlton, Buckhead in Atlanta, Georgia.

Those companies chosen for the EARLY/Stage event are seeking their first rounds of venture capital and/or angel investment. During the Investor Forum, the companies will participate in an advisory session led by active early-stage investors.  The MAIN/Stage presenting companies have generally completed at least one round of institutional financing and will each have the opportunity to make a ten minute pitch to the full conference audience.

Since 1999, companies that have participated in the SEBIO Investor Forum have raised over $2.5 billion in public and private offerings.

SEBIO has also selected four finalists for its Fourth Annual BIO/Plan Competition, a program developed to promote the creation of new, fundable life science companies based in the Southeast. Working closely with technology transfer offices and entrepreneurs throughout the region, the competition brings forward opportunities from leading Southeastern research universities and research centers. The BIO/Plan Competition received forty applications earlier this year from all across the Southeast.

SEBIO 2010 MAIN/Stage Companies
Avancen MOD Corporation (Mt. Pleasant, SC)
EGEN, Inc. (Huntsville, AL)
Intelliject, Inc. (Richmond, VA)
InVasc Therapeutics, Inc. (Tucker, GA)
RFS Pharma, LLC (Tucker, GA)
Visioneering Technologies, Inc. (Alpharetta, GA)

SEBIO 2010 EARLY/Stage Companies
Ariste Medical, LLC (Memphis, TN)
Atlanta Catheter Therapies, Inc. (Atlanta, GA)
AXOXY Laboratories, LLC (Gainesville, FL)
Bioshape Solutions, Inc. (Research Triangle Park, NC)
CvergenX, Inc. (Tampa, FL)
Endomimetics, LLC (Birmingham, AL)
GeneCapture, Inc. (Huntsville, AL)
Grace Innovative Technologies, Inc. (Mobile, AL)
HemoSonics, LLC (Charlottesville, VA)
NeurOp, Inc. (Atlanta, GA)
Physcient, Inc. (Durham, NC)
Restorative Physiology Group, LLC (North Charleston, SC)
Scytel Research (Chapel Hill, NC)
Vascular Pharmaceuticals, Inc. (Cary, NC)
Vivo Biosciences, Inc. (Birmingham, AL)

SEBIO 2010 BIO/Plan Finalists:
FibroTherapeutics, Inc. (Medical University of South Carolina)
NRG Biotechnology (Morehouse School of Medicine)
Reactive Diagnostics, Inc. (Georgia Institute of Technology)
SPECTROPATH Medical (Emory University)

BioCryst Pharma moving HQ from Birmingham to Durham

Thursday, October 14th, 2010

BiocrystDURHAM, NC - BioCryst Pharmaceuticals (Nasdaq:BCRX)  is moving its headquarters from Birmingham, AL to Durham, NC, the Birmingham Business Journal reports.

BioCryst has three novel late-stage compounds in development: peramivir, a neuraminidase inhibitor for the treatment of influenza, BCX4208, a purine nucleoside phosphorylase (PNP) inhibitor for the treatment of gout, and forodesine, an orally-available PNP inhibitor for hematological malignancies.

The company employs about 50 people, including 30 at its Durham R&D operation. It says the move will affect up to 15 jobs, with 8 being eliminated.

Alabama-based BioDtech injects $600K for toxin detection

Friday, October 8th, 2010

biodtechBIRMINGHAM, AL - BioDtech Inc., which sells a product to detect and remove toxins from research biological test samples, has raised $600,000 in venture funding from the Birmingham Technology Fund (BTF) and Texas-based Targeted Technology Fund I, and private investors, according to the Birmingham Business Journal.

Founded in 2006 in Nashville, the company moved to Birmingham when the BTF invested $1 million in 2007.

The company plans to move from its currrent Innovation Depot laboratory to a larger space in the same incubator and add at least one more employee, the BBJ reports.

The company already has about 60 customers and will use the new funding in part to develop new products.

It has applied for patent protection for its endoxin detection and removal technology.

The Birmingham Technology Fund has invested $14.4 million to 11 companies since its founding in 2006.

Alabama-based Cedar Ridge Research raises $1.3M

Tuesday, October 5th, 2010

Cedar Ridge ResearchNEW HOPE, AL – Cedar Ridge Research, a company that provides a platform to research, develop, protect, and launch challenging technologies, has raised $1.3 million from a single investor, according to a regulatory filing.

The company has extensive experience across multidisciplinary technology areas covering inventions, patents, licensing, and product launches gained from the development of its own product portfolio. In parallel to its IP development, it also provides a structured innovation and incubation model to technology companies.

The company also offers investment support services, helping tech firms develop presentations for investors and presenting investment opportunities.

Looking at the Cedar Ridge web site, we noticed that the firm’s projects are extremely high tech endeavors. They include such things as Parametric Nuclear Quadrupole Resonance, a method for or scanning ships, planes, airports, trucks, buildings, roads, crowds, etc. for dangerous substances such as illicit drugs or explosives.

Another is Magnetic Damping Field Armor, which protects armored vehicles from shaped explosive projectiles.

Larry Fullerton

Larry Fullerton

CEO Larry Fullerton as been the recipient of 117 US Patents in the fields of ultra wideband technology, impulse radio technology, velocity measurement, communications and geophysics.

Among his achievements, Fullerton invented the pipe sorter that is currently the industry standard, the free-space video link used by store security systems worldwide, a robotic system that automates crankshaft grinders, a high-speed coin sorter, time coherent ultra wideband technology, and many other technologies.

The company disclosed the funding in a filing with the US Securities and Exchange Commission.

To email TechJournal South Editor/writer Allan Maurer: Allan at TechJournalSouth dot com.