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RTP-based First Flight Venture Center names Andrew Schwab president

Monday, April 11th, 2011

First FlightRESEARCH TRIANGLE PARK, NC - First Flight Venture Center has appointed Dr. Andrew Schwab as President of First Flight Venture Center.  Schwab has served in an interim capacity since the passing of former Executive Director John Draper, in early summer.

Schwab is a successful entrepreneur with over 20 years operational experience in early stage startups. He has led two RTP based companies to Triangle Fast 50 awards over the last 10 years and has participated in two successful exits.

His management skills cover all phases of technology development, funding and commercialization. Dr. Schwab received his BSEE from Duke University and PhD in Electrical Engineering from the University of Virginia.

Schwab’s extensive management and operational skills “make him an ideal candidate for the position,” according to Dr. Terry Kane, Chairman of the Board.  “During his time at First Flight, he has worked to help build and support FFVC’s expansion into the life science arena and support emerging technology companies.  These are critical missions for the State of North Carolina,” said Kane.

“I hope to bring positive changes to First Flight,” says Schwab. “To be an effective resource for all start-ups, we are creating new programs, courses and networking opportunities to emerging growth companies at all stages. We want all striving entrepreneurs to have the resources to make their venture a successful one.”

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

Bioptigen raises $1.5M for optical imaging system

Tuesday, March 8th, 2011

BioptigenRESEARCH TRIANGLE PARK, NC – Bioptigen Inc., a company that has developed in vivo optical imaging systems that enables real-time, noninvasive imaging of internal tissue microstructure, has raised $1.5 million from a single investor, according to a regulatory filing.

Bioptigen is a spin-out of the Duke University Biomedical Engineering Department. Bioptigen was incorporated in North Carolina in August, 2004, to commercialize technologies originating in the laboratories of Professor Joseph Izatt.

The company’s technology is based on the science of Optical Coherence Tomography, an imaging system similar in function to ultrasound, but using low-power light rather than sound waves.

OCT offers resolution 100-times finer than standard ultrasound, suitable for analyzing tissue microstructure with features smaller than 4 micrometer.

Bioptigen sold $542,500 in mixed securities in 2007.

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

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

Aerie Pharmaceuticals closes $30M round for glaucoma treatment

Monday, March 7th, 2011

AerieRESEARCH TRIANGLE PARK, NC – Aerie Pharmaceuticals, Inc, a biotechnology company focused on the discovery and development of medical innovations in ophthalmology, has closed a $30 million Series B financing. Clarus Ventures and Sofinnova Ventures co-led the round, with participation from Osage University Partners, and existing investors Alta Partners and TPG Biotech.

The financing is one of the largest we’ve seen regionally so far this year. The company has raised more than $75 million since it was founded in 2005 by CEO Thomas J. Van Haarlem. Van Haarlem was previously vice president of the surgical ophthalmology business at Pfizer.

Aerie expects to use proceeds from this financing to fund continued development of Aerie’s broad product portfolio in glaucoma and advance the company’s lead product, AR-12286, a first-in-class selective Rho-kinase inhibitor, into Phase 3 trials by the end of 2011.

When you go for you eye examine and the doctor puffs air at your eye, he’s testing for glaucoma symptoms. As baby boomers in the population age, more incidents of glaucoma are likely.

“Despite the fact that glaucoma is a progressive disease, there has not been a drug with a new mechanism of action approved in the glaucoma field since the mid-nineties,” said Dr. Anand Mehra of Sofinnova. “Patients often need several drugs to control their disease, and physicians have limited options with these older mechanisms. We believe that AR-12286′s new MOA, strong efficacy, excellent tolerability, and once daily dosing can provide real value to patients at risk of losing their vision.”

AR-12286 is designed to lower intraocular pressure. Aerie reported positive top-line data from a Phase 2b trial with AR-12286 last September. Additional Phase 2 studies are planned for 2011 to further elucidate the unique clinical benefits of AR-12286.

In conjunction with the financing, Dennis Henner, PhD, Managing Director at Clarus Ventures, joined Aerie’s Board of Directors. Mehra, MD, a partner at Sofinnova Ventures joined the board in September of 2010.

The company is also pursuing several other pipeline programs also aimed at glaucoma therapy.

“The more we learn about the unique, clinical benefits of AR-12286, the more enthusiastic we are about its prospects as an important and differentiated glaucoma treatment, both as monotherapy and in combination with existing glaucoma drugs,” said Dr. Henner.

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

Startup Stampede: launch a company in 60 days with free space and support in Durham

Tuesday, February 22nd, 2011

Durham StampedeDurham is becoming a hotbed for startup companies, with more than 50 in downtown alone. The success of the American Tobacco Campus and its startup friendly American Underground, the proximity to Duke University and the University of North Carolina in Chapel Hill,  Research Triangle Park located 10 minutes away, and the city’s modest-cost-of-living are all contributing factors.

In a guest post on Jason Caplain’s Southeast VC blog, Adam Klein, director of Strategic Initiatives, Durham Chamber, wrote, “The idea for the Bull City Startup Stampede came during a conversation with Preation founder and iContact co-founder, Aaron Houghton. We were talking about how the startup scene in downtown Durham is thriving and that we’d love to expose more entrepreneurs to this environment. That’s when Aaron started talking about a wacky sort of spectacle eared at giving Triangle-based startups a first-hand experience of Durham…from there we launched the Startup Stampede.”

Houghton tells us, “It doesn’t cost the entrepreneurs a thing and they don’t give up any equity.  The space is right in the middle of the startup scene in downtown Durham, 50 startups are within talking distance from this office. The 50mb Internet connection in the space is not currently offered to businesses in NC via cable providers but Stampede companies will get it first (for free) which is really cool.”

Klein added, “The programming for the event will be light but we are planning to bring in some very successful Durham entrepreneurs each week to talk with the Stampede participants about the ups and downs of launching a company.”

Durham startups already employ about 500 people and it’s well known that small businesses account for the bulk of new jobs created. With the RTP’s large tech companies shrinking workforces, we think this emphasis on creating and nurturing startups bodes well for the Bull City’s future.

Applications are due March 11 and selected participants will be notified by March 18. There is no specific industry focus but Kleins says, “We are mostly interested in the background of the founder/team, the market opportunity and the scalability of the concept.”

–Allan Maurer

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

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

Lessons from 10,000 hours as a Web writer

Tuesday, January 25th, 2011

By Allan Maurer

Allan Maurer
Allan Maurer

UPDATED - RESEARCH TRIANGLE, NC – I’ve got my 10,000 hours in writing for the Web. I started writing for online media in 1999 and averaged 1,000 hours a year or more since.

In his recent book, “Outliers,” Malcolm Gladwell, who also authored “Blink,” makes a case for the theory that it requires about 10,000 hours of practice to make someone an expert at just about anything.

Gladwell describes how Bill Gates, Bill Joy, and Steve Jobs all managed to acquire 10,000 hours on computers well ahead of most everyone else by being in the right place at the right time – leading to their success and riches.

He also shows that the theory applies just as readily to the success of the Beatles, who grabbed their 10K hours playing 12-hour gigs in demanding Liverpool nightspots before exploding into worldwide fame and acclaim. It applies, he suggests, to just about any endeavor.

Gladwell’s book, which I highly recommend, details many other components of “outlier” success, which include such things as the luck to be in the right place at the right time.

Right place, right time

I was fortunate to be in the right place at the right time as well, actually. In 1997 I left a magazine in Charlotte, NC, to freelance as a writer, but I had been working for regional and local publications instead of the national magazines that had been my primary sources of income previously. Let me tell you, it is tough to make a living writing primarily for local and regional publications anywhere, but particularly so outside of major media cities.

I wrote for every publication that bought copy in Charlotte: Creative Loafing, The Charlotte Business Journal, Charlotte Magazine, Charlotte’s Best Magazine, and more, but at the same time was learning to function on the still young Internet. I saw that the Internet was the future of publishing and journalism. I began spending hours every day interacting with people on newsgroups and through email. I began acquiring Internet skills  – in search, security, and instant communication, among others.

You had to learn to avoid what were then called “flame wars,” how to search quickly and effectively – which was a bit more difficult in those days than now, and to double check your writing before zipping it off into cyberspace.

And I went job hunting online.

I also started hunting for an online job. The first company I actually interviewed with, a city site firm doing things similar to those I had done at city focused magazines, just flat turned me down, much to my surprise, considering how qualified I was for the position.

But it was the first of a number of strokes of luck that led me to a new career, and at twice what the company that had turned me down paid.

Pioneering tech news site

There were so many jobs popping up online in mid-1999 I barely hesitated at losing the first gig and moved on to applying for the next. I hit the bullseye with a company called dbusiness dot com (a url now owned by an entirely different company), later renamed LocalBusiness dot com.  It was one of the first national online news sites covering local technology, startups, funding stories, business profiles. It spawned many imitators.

I had the qualifications they wanted. I had worked for daily newspapers as a reporter, was founding editor of two regional business journals (Northeast PA Business Journal is still going), had covered technology for OMNI, Science Digest, and Longevity, among other national magazines, and had written a book about lasers for Arco in the 1980s (Lasers, Lightwave of the Future), among other credits. You could probably pick up a copy at Amazon for a penny plus shipping and handling.

Versatility is always a selling point for a writer. I worked for a wide range of national publications over the years: from Playboy to Modern Maturity (both of which paid in the $1 a word range in the 1980s). I even wrote a seafood cooking column for a national dive magazine called USA Today for seven years.

$10,000 raise in one day

So they hired me. It was unlike any job I’d had before. We were expected to crank out at least four, usually five stories a day. While initially, we rewrote news releases without so much as a call, I began breaking news stories using traditional reporting methods within a month.

“Glad to know someone can find news without using the wire services (Business Wire, PR Newswire, etc.),” my editor said. But still, the sheer amount of copy we were expected to turn out daily was daunting.

I was one of the first reporters for that company to start breaking news about startups landing funding and broke a number of the biggest stories from the Research Triangle area in that arena, beating even AP to some $100 million deals in those heady times. But it was the daily grind of finding stories, finding sources to talk about them, and finding ways to make technology and business less jargon ridden and more easily grasped that was the real training.

I must have been doing something right, because when a then popular technology business magazine called Upside tried to hire me, LocalBusiness gave me a $10,000 raise instantly to beat their offer. The extra money was in my paycheck the next week. I admit, I do miss the way money flew around in those Internet boom years.

I worked for several other online news publications since, and co-founded LocalTechWire.com, now owned by WRAL in Raleigh. I  joined TechJournal South in 2007, and the pace of doing half a dozen stories a day has not slowed. And I’ll say this, once you’ve worked for an online media company, going back to working for a print publication, which I did for a time, feels just like leaving the Interstate where you were doing 80 miles an hour to a back road doing 35.

What I’ve learned

Speed is the main thing I’ve developed working online. That has its consequences, especially working without an editor except Microsoft (and you know how good he is).

The Internet is a hungry beast and has to be fed at regular intervals. Developing that speed was particularly daunting at first, when I worked on an IBM PC dinosaur and dial-up Internet connections. One of the first things I learned was to get high end equipment and the fastest Internet connections I could find. People still comment on how fast I get a story posted following an interview. It wasn’t always that way. When I first started writing for the Web, doing five stories a day felt like whooshing through the galaxy at warp speed.

I also learned the need to be nimble and adaptable, because unlike staid grey lady print media, the Internet media landscape changes rapidly. New technologies, new competitors, new media models, and new tools evolve continually.

Most recently, after years using a variety of proprietary content management systems or tools such as Dreamweaver and FrontPage, I adapted to using WordPress. That added another layer of things to learn.

Learning SEO

Learning SEO, for instance, required paying attention to details that I had never needed to think about before as a writer and editor and in an arena that changes as Google and other search engines refine their algorithms.

How? You can’t skip steps in the SEO process. You have to put in alternative text for images, do the 160 character or less headlines, descriptions and key word lists. You also need to stay abreast of search engine algorithm changes. Finally, you have to look at your analytics regularly to see what stories are working and which are not, the search terms people use to visit your site, and where they are coming from (search engines, organic, or referred).

It’s tough not to make some errors working fast, in quantity, and without an editor.  But people are forgiving of Internet typos and such. You do see them everywhere, including the New York Times and other top publications online.

One of the most important lessons I’ve learned is that the Internet is largely self-correcting. When I make a mistake, whether it is a typo, a misinterpretation, or bad link, I hear about it from readers and correct it, usually before our eWire goes out in the afternoon.

From the time of that first online position through to the present, I averaged more than 100 hours a month writing for web sites, those I worked for full time, those I created, and those for which I freelanced. You deal with more than just writing web copy doing a job like this.

Adapting is essential

You learn to do most of your own IT, from using increasingly sophisticated applications and technology to managing security and ergonomic considerations. A list of the programs I’ve learned over that time would fill a page, including eight different content management systems.

All of which means that in this job, you don’t stop learning and adapting and maybe that’s the essential lesson?

When you think about it, I fit Gladwell’s other criteria of being in the right place (a market LocalBusiness dot com wanted covered) with the right background (solid journalism credentials and experience as both a business and technology writer), at the right time (the very beginning of daily web-only reporting.) To get that 10,000 hours in, you had to start then or earlier.

I was and I did, so, I should be getting good at this sometime soon.

Email TJS Editor Allan Maurer: Allan at TechJournal South dot com.

RTP-based Precision Biosciences wins more than $3M in grants

Thursday, December 16th, 2010

PrecisionbiosciencesRESEARCH TRIANGLE PARK, NC – Precision BioSciences Inc. has been awarded over $3 million across four government grants. These grants were each awarded to Precision during the 4th Quarter of 2010 and came from the National Institute of Standards and Technology, the Treasury Department, the National Institute of Health, and the State of North Carolina.

Together, the grant funding will allow Precision to accelerate development of its proprietary genome engineering technology called the Directed Nuclease Editor (DNE).

“Precision is poised to utilize DNE technology to address major challenges facing the biomanufacturing industry,” said Michael Nicholson, director of cell biology at Precision BioSciences. “These grants will enable us to further refine applications of the technology, particularly as it pertains to cell line engineering.”

Precision’s proprietary DNE technology enables the production of custom genome editing enzymes that can insert, remove, modify, and regulate essentially any gene in mammalian or plant cells.

The company has already produced hundreds of custom endonucleases for partners and internal development that can precisely alter naturally occurring sequences within genomes.

Precision has partnered its DNE technology with several of the world’s largest agbiotech firms and is internally developing applications in biological production and human therapeutics.

Maryland-based Triumfant closes on $1.5M for malware protection

Thursday, December 9th, 2010

TriumfantROCKVILLE, MD - Triumfant Inc., a company selling software that detects and fixes damage from malware attacks on a company’s servers and computers, has raised $1.5 million in a mixed-securities offering, according to a regulatory filing.

Founded in 2002, Triumfant is a privately held company headquartered in Rockville, MD with engineering facilities in Research Triangle Park, NC. Triumfant serves key markets, including government organizations and commercial enterprises, as well as managed service providers and system integrators. Triumfant (formerly Chorus Systems) is funded by Novak Biddle Venture Partners, Core Capital Partners, Inflection Point Ventures, Anthem Capital Management, MCNC Ventures, and Tri-State Investment Group IV.

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

The company says it leverages patented analytics to detect, analyze and remediate the malicious attacks that evade traditional endpoint protection solutions. It says it uses these same analytics to continually enforce security configurations and policies, ensuring that organizations start every day with their endpoints secure and audit ready.

It explains on its web site that its analytics correlate all of the changes associated with each incident, generating in-depth analysis of each attack and providing the knowledge required to build a situational, contextual remediation that surgically addresses the attack and all of the associated collateral damage.

To reach TJS Editor Allan Maurer: Allan@techjournalsouth.com

RTP-based video-tech focused Digitalsmiths acquires Gotuit

Tuesday, November 23rd, 2010

DigitalsmithsRESEARCH TRIANGLE PARK, NC – Digitalsmiths, which sells video metadata software that helps companies index and monetize content, has acquired Woburn, Massachusetts-based Gotuit Media Corp. for an undisclosed sum.

“Deep metadata is the engine that powers the consumption of digital media. The combination of Digitalsmiths and Gotuit provides an end-to-end solution for powering multi-platform content personalization,” said Colin Dixon of The Diffusion Group.

“Bringing together search, discovery, recommendations and targeted advertising will help content owners generate revenue and consumers discover more relevant content,” he added.

The way video is capturing eyes online and on mobile bodes well for companies such as Digitalsmiths. Indexing video content and making money from it are still troublesome for many video providers, though, and that’s where Digitalsmiths comes in. Digitalsmiths’ customers include today’s leading Hollywood studios, broadcasters, distributors and publishers including Warner Bros., Telepictures and TMZ.com.

“Digitalsmiths has created the first and only singularly focused next-generation video metadata company,” said Ben Weinberger, CEO of Digitalsmiths. “By combining our ability to scale libraries of content and Gotuit’s broadcast capabilities, we’ve created the most comprehensive solution for video indexing and metadata monetization available to serve the media industry across multiple platforms and content types – movies, sports, news and television for both library media and live broadcasts.”

Digitalsmiths now controls more than 35 patents covering core metadata creation, aggregation and application, among others.

Venture backed . Digitalsmiths’ existing investors include .406 Ventures, Chrysalis Ventures, The Aurora Fund and Cisco Systems.

Square 1 Bank’s Adam Smith: start a company in Raleigh-Durham

Wednesday, November 17th, 2010

Adam Smith

Adam Smith

RESEARCH TRIANGLE, NC – Adam Smith, vice president at Square 1 Bank and director of its early-stage banking arm Square Roots, spoke with Fast Company.com about what makes Raleigh-Durham’s startup scene unique.

Among the reasons Smith said the Raleigh-Durham Research Triangle area is good soil for planting startups, are:

A collaborative attitude: “The community–entrepreneurs, service providers, academia, big industry, non-profits–they really do rally around our startups,” he said.

He added that the area also has a strong infrastructure for startup support.

“When you think about a successful startup market, you always think about three things that market has to have: talent, technology and capital. I think we do really well on the first two and we’re coming along on the third,” he said. He elaborated, noting the region’s three major research universities, Research Triangle Park itself, and the presence of large tech firms such as IBM, Cisco, and GlaxoSmithKline.

Comparing the Triangle area to Silicon Valley, Smith noted, “It’s much easier for an entrepreneur with a family because of lower cost of living.”

Asked what types of startups do best in the area, he mentioned the growing electronic gaming hub that includes both large, successful firms such as Epic and the recently established gaming incubator, Joystick Labs.

On the Web based startup side he mentions a number of companies funded this year: Stat Sheet, Netsertive, ReverbNation, Zift, iContact, Sharefile.

Other firms getting a mention include Pocketgear, Red Hat, SciQuest, SAS, and Bandwidth.com.

For the full article see: Why you should start a company in Raleigh/Durham

RTP-based Overture Networks appoints Gerdelman chair

Tuesday, October 12th, 2010

Overture NetworksRESEARCH TRIANGLE PARK, NC – Overture Networks, a Carrier Ethernet solutions provider, has appointed John Gerdelman as a non-executive chairman of the board. With an extensive background in the networking industry and over 20 years of experience, Gerdelman’s experience in both executive and board member roles makes him the best-fit choice to help direct the company.

“John brings a wealth of experience in guiding high-growth companies in the networking space with a strong track record at both service provider and equipment companies,” said Jeff Reedy, CEO of Overture. “He is well-respected in the service provider and investor communities, and Overture will benefit from his experience and insight as we take the company to the next level.”

Gerdelman has considerable experience in top-level positions. He served as CEO for Metromedia Fiber Networks, now AboveNet, from April 2002 to Dec. 2003, and also chaired Looking Glass Networks, which was acquired by Level 3 Communications. He co-founded and served as chairman of Intelliden, a software solutions company for carriers which was acquired by IBM. From 1986 until 1999, Gerdelman held various positions with MCI Communications Corp., including president of the Network and Information Technology Division, and has served as CEO of Long Lines Limited, a regional telecommunications company.

Currently, Gerdelman is also a director of Brocade Communications, Sycamore Networks, Long Lines Limited and US Inspect, and also serves on the board of visitors for the College of William and Mary, where he received his B.S. in Chemistry.