Posts Tagged ‘Pharma’
Tuesday, February 22nd, 2011
 MORRISVILLE, NC- Viamet Pharmaceuticals Inc. has raised $25 million in equity financing, according to a regulatory filing. The company focuses on enzymes that contain a metal, typically zinc or iron. About ten percent of current drugs target these “metalloenzymes.” Viamet’s technology makes those drugs more effective and safer, the company has said.
The company, founded in 2005, raised a $4 million round in 2007 and an $18 million B round in 2009 from Novartis Option Fund and Lilly Ventures. Existing investors who participated included Durham-based Intersouth Partners and Hatteras Venture Partners, also of Durham.
The filing with the US Securities and Exchange Commission disclosing the current raise lists Intersouth, Haatteras, and Novartis Option Fund in Cambridge, Mass.; Lurie Investment Fund in Chicago; and Indianapolis’ Lilly Ventures, a venture capital subsidiary of Eli Lilly and Co.
Other investors in the company include Headlands Ventures and Astellas Venture Management.
According to the company’s website, Viamet develops traditional small molecule compounds that exploit validated metalloenzyme targets in the fields of infectious disease and oncology. All of Viamet’s therapeutic programs target indications with blockbuster potential and where current therapies have significant clinical deficiencies that can be addressed by the company’s technology.
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Tags: Biotech, Durham, financing, Hatteras Ventures, Intersouth Partners, Lilly Ventures, Morrisville, NC, Novartis Option Fund, Pharma, Viamet
Posted in Biotech, Carolinas, Healthcare, North Carolina, Pharma | Comments Off
Thursday, January 6th, 2011
 WASHINGTON, DC – DC-based Chase Pharmaceuticals Corp. has injected $1.2 million in equity funding from a single investor, according to a regulatory filing.
Among directors cited as principals in the filing with the US Securities and Exchange Commission, are John Reher and Karoly Nikolich of California-based Brain Trust Accelerator Fund, which was the sole investor in its A round in 2010.
The company says it is an early stage, product based, specialty pharmaceutical company located in Washington DC, focuses on the identification and initial clinical development of better medications for the treatment of neurologic and psychiatric disease.
Chase PHarmaceuticals was founded in 2007.
Chase Pharmaceuticals’ lead drug is CPC-001. a treatment for patients with Alzheimer’s disease and other dementias of the Alzheimer type, scheduled to enter Phase I studies in healthy volunteers in the first quarter of 2011 and begin Phase II proof of principle trials in the target patient population by the first quarter of 2012.
In addition, the company says on its Web site that it maintains an interest in the acquisition and clinical development of early- to mid-stage product candidates of exceptional promise. Included are those for the treatment of Parkinson’s disease, depression and stroke as well as other therapeutically underserved disorders of the central nervous system.
Tags: Alzheimer's treatment, Brain Accelerator Trust, Chase Pharmaceuticals, financing, Pharma, SEC filings
Posted in Biotech, Healthcare, Money, Potomac, Washington, DC | Comments Off
Tuesday, January 4th, 2011
 TAMPA, FL – Thar Pharmaceuticals, which has offices in Tampa and Pittsburgh, has raised $4.31 million toward a targeted $9.64 million sale of mixed securities, according to regulatory filings.
The company, which disclosed the offering in filings with the US Securities and Exchange Commission, raised just over $2 million of the offering last month and a new filing shows it has raised an $2.3 million toward the expanded goal of $9.64 million.
The company transforms drugs normally administered via intravenous IV into oral products, increasing their convenience and lowering the cost of treatment.
The company is one of three spinouts from Thar Technologies, formerly Thar Designs, founded by Dr. Lalit Chordia in 1990. The other two areThar Instruments, a provider for green analytical and preparative chromatography; Thar Process, a supercritical fluid technology company.
Tags: Biotech, financing, FL, Pharma, Tampa, Thar Pharmaceuticals
Posted in Biotech, Florida, Healthcare, Money, Pharma | Comments Off
Thursday, December 23rd, 2010
 ROCKVILLE, MD - Supernus Pharmaceuticals, which is developing central nervous system treatments, has filed for a $100 million initial public offering of stock.
The company plans to trade on Nasdaq under the symbol “SUPN.”
The venture-backed company has raised funding from New Enterprise Associates, OrbiMed Associates, and Abingworth Management. NEA holds 44.8 percent pre-IPO stake, the largest. The other two investors hold 17.9 percent each.
Formerly known as Shire Laboratories, the company develops drugs for the treatment of epilepsy, Parkinson’s disease, conduct disorders, depression, anxiety, and attention-deficit/hyperactivity disorders.
Tags: Abingworth Management, CNS drugs, IPOs, MD, NEA, OrbiMed Associates, Pharma, Rockville, Supernus Pharmaceuticals
Posted in Biotech, IPOs, Maryland, Pharma, Potomac | Comments Off
Thursday, December 23rd, 2010
 HOLLY SPRINGS, NC – North Carolina has seen a small spate of job gains – many fueled by state and local incentives – the last months of 2010. Now, Novartis (NYSE: NVS) says it will expand its vaccine production plant in Holly Springs, adding another 100 jobs.
The $36 million expansion of the billion dollar facility will qualify the company to receive up to $3.7 million in state tax incentives.
Swiss-based Novartis says the new jobs will pay an average of $106.200 a year plus benefits. High paying jobs such as those tend to bleed more money into the local economy, which is one reason biotech and life science firms are eagerly sought by regions internationally.
The announcement of the Novartis expansion follows recent good economic development news in the state from smart phone maker HTC, Enviva, and Arvato.
Tags: Biotech, Economic Development, Holly Springs, jobs, NC, Novartis, Pharma
Posted in Biotech, Carolinas, Economic Development, North Carolina, Pharma, TechJobs | Comments Off
Monday, December 13th, 2010
 ASHBURN, VA - Innocoll Holdings Inc., a global pharmaceutical company selling topically applied healthcare products and surgical implants, has raised $5.25 million via a mixed securities offering, according to a regulatory filing.
The company raised $4 million selling mixed securities in 2009 and a $30 million A round of financing in 2007 led by Camulos Capital, with participation from Newsmith Capital Partners and Morgan Stanley.
It disclosed the current offering in a filing with the US Securities and Exchange Commission.
Innocoll focuses on the development of biodegradable surgical implants and topically applied healthcare products. It develops, makes and sells its products globally.
Its pipeline includes the CollaRx Gentamicin Surgical Implant, and a drug to treat and prevent surgical site infections; and CollaGUARD/Collieva, a drug for the treatment of ulcers, burns, split-skin donor sites, and other dermal wounds requiring temporary dermatoplasty.
The company’s Web site appears to be under construction.
Email TJS Editor Allan Maurer: Allan at Techjournalsouth dot com.
Tags: Ashburn, Biotech, financing, Innocoll Holdings, Medical Device, Pharma, VA
Posted in Biotech, Healthcare, Medical Device, Money, Potomac, Virginia | Comments Off
Monday, November 15th, 2010
 BLACKSBURG, VA -Intrexon has closed on a $37.5 million mixed securities offering, according to a regulatory filing. The company’s D round attracted 65 investors. Intrexon is developing a cancer therapy that enhances the immune system.
In March, we reported that Intrexon had raised $17.4 million in its D round from 40 investors, according to a filing with the U.S. Securities and Exchange Commission. It disclosed the current financing amount in an amended filing with the SEC.
Intrexon raised the $25 million from two investors in December 2009, according to an SEC filing, which we reported here in January.
It raised $10 million in June last year and previously raised $25 million in 2007 for a total of $77 million plus.
New River Management funds, managed by Third Security, and NewVa Capital Partners have been the company’s primary investors.
Intrexon says its modular DNA control systems can enhance capabilities, improve safety and lower cost in human therapeutics, protein production, industrial enzymes and agbio.
Its most advanced immunomodulatory therapy is intended to control and enhance the immune-modulating performance of dendritic cells to treat solid tumor cancers.
It is also using its “UltraVector” system of modular DNA controls to enhance human protein production for therapeutic drugs.
It says its capabilities also represent “an unparalleled opportunity to develop protein production systems that can be embedded inside a patient’s body and then regulated through the dosing of our external small molecule activator.”
In September, the company bought the assets and operations of Avalon Pharmaceutical Inc., a subsidiary of Clinical Data Inc., and assumed the lease on its Germantown, MD bioassay facility.
The company’s headquarters is located at the Virginia Tech Corporate Research Center in Blacksburg, Virginia, which is also the primary site for its advanced transgene engineering operations. Intrexon has additional business and R&D operations located in Germantown, MD; San Francisco, CA; and Valley Forge, PA.
Tags: Biotech, Blacksburg, financing, immunotherapy, Intrexon, Pharma, VA
Posted in Biotech, Money, Pharma, Potomac, Virginia | Comments Off
Wednesday, November 3rd, 2010
 ATLANTA – Inhibitex, Inc. (NASDAQ: INHX) has been awarded approximately $489,000 in grants under the Qualifying Therapeutic Discovery Project Program. This program was created under the Patient Protection and Affordable Care Act of 2010 to provide tax credits or grants representing up to 50 percent of eligible qualified investments in therapeutic discovery projects during tax years 2009 and 2010.
Inhibitex was awarded the grants for FV-100, which is in Phase II clinical development for the treatment of shingles, and INX-189, a nucleotide polymerase inhibitor in Phase 1b clinical development for the treatment of chronic hepatitis C infections.
Cardiac Regeneration Technologies has received notification from the U.S. Internal Revenue Service (IRS) that it was approved to receive a grant in the amount of $244,000 for CRT’s investment in an unprecedented myocardial regeneration therapeutic discovery project. In July 2010, the company applied for the grant under the Qualifying Therapeutic Discovery Project.
Tags: Atlanta, Biotech, Cardiac Regeneration Technologies, federal grants, GA, Inhibitex, Pharma
Posted in Biotech, Georgia, Money, Pharma | Comments Off
Wednesday, November 3rd, 2010
 RESEARCH TRIANGLE PARK, NC – Weston-MA-based Biogen Idec Inc. (Nasdaq:BIIB), which has more than 800 employees in the Research Triangle, is cutting its workforce by 13 percent and moving some jobs to North Carolina.
“The company will relocate its U.S. workforce from six current locations into three existing state-of-the-art facilities in Weston and Cambridge, Mass., and Research Triangle Park, NC. ,” the company said a statement.
The company has a manufacturing plant and research and development facility in the RTP and a customer service office in Durham.
Biogen said it will close its San Diego office, consolidate offices in Massachusetts, and move some jobs to NC, although it did not say how many.
It has a total of about 4,750 employees, and the cuts will affect approximately 617.
Tags: Biogen idec, Biotech, Durham, jobs, NC, Pharma, RTP
Posted in Biotech, Carolinas, North Carolina, Pharma, TechJobs | Comments Off
Wednesday, November 3rd, 2010
 RESEARCH TRIANGLE, NC – BioCryst Pharmaceuticals (Nasdaq:BCRX), which is developing drugs to treat infectious diseases and cancer, won $1.1 million in grants from the US Department of Health and Human Services, the largest won by three Research Triangle-based biotechnology firms.
The company received grants for its Peramivir, a flu drug, BCX4208, a gout treatment, Forodesine, a treatment for types of cancer that affect blood, bone marrow, and lymph nodes, and two pre-clinical projects.
Pozen (Nasdaq:POZN) will land $730,000 for three programs aimed at pain relievers that reduce complications from taking aspirin.
Raleigh-based DARA BioSciences (Nasdaq:DARA) will receive $500,000 to continue development of its treatments for Type 2 diabetes and for neuropathic pain in cancer patients.
Durham’s Oxygen Biotherapeutics well get $245,000 in grants to support its treatment for brain and spinal cord injuries.
The grants are from the Patient Protection and Affordable Care Act, which made about $1 billion in funding available to underwrite costs of drug development. The program made grants available for up to 50 percent of expenses related to selected drugs and was aimed at firms with fewer than 250 employees.
Tags: BioCryst, Biotech, DARA Biosciences, Durham, federal grants, NC, Oxygen Biotherapeutics, Patient Protection and Affordable Care Act, Pharma, Pozen, Raleigh, Research Triangle
Posted in Biotech, Carolinas, Money, North Carolina, Pharma | Comments Off
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