Innocrin Pharmaceuticals, Inc. Raises $28 Million in Series D Financing

Posted by on Apr 15, 2015 in Newsroom | 0 comments

RESEARCH TRIANGLE PARK, N.C. – Innocrin Pharmaceuticals, Inc., a clinical-stage pharmaceutical company developing small-molecule CYP17 lyase-selective inhibitors to treat resistant hormonally-dependent breast and prostate cancers, today announced the completion of a $28 million Series D financing round. The financing was led by Eshelman Ventures and Fred Eshelman, PharmD., Founder of Eshelman Ventures, has joined Innocrin’s board of directors. The company’s current investors: Novartis Venture Fund, Lilly Ventures, Hatteras Venture Partners, Intersouth Partners, and A&B Equity...

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NC Biotech Center’s support leads to $1.8M Alzheimer’s grant

Posted by on Apr 9, 2015 in Newsroom | 0 comments

RESEARCH TRIANGLE PARK, N.C. – The founder and CEO of Research Triangle Park drug developer T3D Therapeutics says North Carolina Biotechnology Center support helped open the door to a recent $1.8 million federal Alzheimer’s disease research grant. “NCBiotech’s vetting process and subsequent issuance of two very important early loans totaling $300,000 helped establish T3D as a company with a potentially significant therapeutic opportunity,” said CEO John Didsbury, Ph.D. “Young life science companies like ours have limited early funding options. The Biotech Center is an...

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DiscoveryBioMed receives $1.6M grant to fight metabolic diseases

Posted by on Apr 9, 2015 in Newsroom | 0 comments

BIRMINGHAM, AL. – Birmingham biotech firm DiscoveryBioMed has received a $1.6 million grant from the National Institutes of Health to fight multiple diseases caused by high blood pressure, such as type 2 diabetes and obesity. The Small Business Innovation Research grant will help fund the development of small molecule drugs that will increase the regulation of adiponectin, a beneficial hormone secreted by fat cells that steadily decreases in those with type 2 diabetes or obesity. “Evidence has suggested that reduced adiponectin levels lead to loss of insulin sensitivity and...

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SCRA Technology Ventures Announces Investment Approvals

Posted by on Apr 3, 2015 in Newsroom | 0 comments

SUMMERVILLE, S.C. – SCRA Technology Ventures’ SC Launch board approved investments in four South Carolina companies at their recent board meeting in Summerville. Charleston-area company First String Research, Inc., Greenville-based Servosity and Columbia companies Pandoodle and TerraStride all received approvals. “These investment approvals are confirmation of our continued commitment to South Carolina’s high-tech economy” First String Research, an SC Launch company since 2006, is a privately held, clinical-stage biotechnology company that focuses on scar prevention,...

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Novan Therapeutics raises $50M

Posted by on Mar 30, 2015 in Newsroom | 0 comments

DURHAM, N.C. – Novan Therapeutics, a clinical-stage biotechnology company focused on advancing innovation in dermatology via nitric oxide therapies, today announced that it has secured $50 million in an oversubscribed private financing. New investor Malin Corporation Plc. (ISEQ: MLC) functioned as the cornerstone investor along with strong participation from Novan’s existing private investors throughout the Research Triangle area of North Carolina. The round closed March 27, 2015 at $50 million, including an August 2014 initial filing of $10.3 million. Neal Hunter, Novan’s Founding...

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Akron Biotech of Boca Raton poised for growth

Posted by on Mar 28, 2015 in Newsroom | 0 comments

BOCA RATON, FL. – Claudia Zylberberg began her biotech firm in a one-room office in Boca Raton more than eight years ago. Today Akron Biotech, which produces cell cultures and other raw materials for government and pharmaceutical company research, is moving to a 10,000-square-foot laboratory and manufacturing space. Akron also is collaborating on research, including with a noted scientist from Florida Atlantic University in Jupiter. “I don’t want to be just a manufacturer of products, but an innovator as well,” Zylberberg said. Akron Biotech was recently noted by Palm...

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