Archive for August, 2009
Duke University Health System announced plans for a $700 million cancer center, GlaxoSmithKline’s diet pill Alli is being investigated for possibly causing serious liver damage and Wall Street observers project a flurry of companies may try to go public after Labor Day.
Bayer CropScience wants to buy a neighbor in Research Triangle Park to boost its research and development of genetically modified crop seeds, a Canadian study gets GlaxoSmithKline’s diabetes drug Avandia back into the news and the Triangle gets a nod for its nanotech research.
Bayer CropScience is jockeying for a better spot in the lucrative U.S. seed market.
The German company, which employs about 400 at its U.S. headquarters in Research Triangle Park, announced Wednesday that it wants to buy Athenix, a venture-backed neighbor with 65 employees. Financial details of the deal were not announced.
RTI International and two Durham drug development companies hauled a lot of cash into the Triangle, a national research team led by the University of North Carolina will look for new cancer-fighting medicines and grassroots support for entrepreneurs is alive and well in the Triangle.
North Carolina’s Research Triangle area is known as a research and development hub where several large companies have operations, including IBM, GlaxoSmithKline, Biogen Idec and Quintiles Transnational. But the area’s true strength lies in its many small companies, startups and mid-size businesses, where discoveries are turned into tomorrow’s products.
After months of wrangling with an influential investor — the argument included calls for the resignation of the chief executive — things are looking up again at Icagen, a Durham company working on painkillers and asthma and epilepsy treatments.
At least for the moment they are.