Local Tech Wire 

Buoyed by drug trial results, Biolex raises another $10M

Pittsboro-based drug development firm closes on a mix of debt and equity financing as it prepares to announce trial results for Hepatitis treatment in April.

Intersouth-backed PeopleMatter raises another $2.3 million

North Charleston, S.C.-based startup provides human resources software.

Startup CancerGuide closes on $10.5M in financing, secures LabCorp as partner

Intersouth, Hatteras Ventures Partners and LabCorp all invest in the Durham-based company that is developing diagnostic test technology. Two former LabCorp execs launched CancerGuide in 2006.

Dr. Myla Lai-Goldman

RTP startup Semprius to partner with Siemens on solar power project

Companies agree to joint development of a “plug-and-play” demonstration project that mixes Semprius’ arrays with Siemens’ control components.

German firm invests $1.5 million in semiconductor startup Semprius

Intersouth and In-Q-Tel-backed Semprius agrees to use X-FAB as its foundry. Semprius has proprietary technology for printing of semiconductors.

Key to investor-startup relationship? 'Absolute proactive candor'

The Skinny: Veteran venture capitalist Kip Frey has been on both sides of the startup financing challenges. As he leaves Intersouth to become CEO at startup Zemph, he shares insight into how investors and entrepreneurs can improve their relationships – and wearing socks to board meetings.

Zenph's tune changes: $10.7M in funding, new investors, new CEO – and more

Kip Frey leaves role as Intersouth venture partner to take over as CEO of Raleigh-based startup. Intersouth and Capitol Broadcasting provide the funding. Zenph also changes its name to Zenph Sound Innovations and will relocate to Durham. Red Hat’s Matthew Szulik and a top Google attorney join board.

John Walker prepares for a concert.

VC Kip Frey leaves Intersouth for CEO post at music software startup

Frey, one of the southeast’s highest profile and most active VCs since joining Intersouth in 2000, says he believes Zenph Studio can "fundamentally alter" the music industry. Intersouth also leads $10.7 million investment in Raleigh-based firm.

Kip Frey

Long-term vision for Intersouth-backed Alimera Sciences could be cloudy

Georgia-based developer of ophthalmic drugs pins its financial future on a re-filed IPO and a drug candidate in late clinical trials as cash runs low.

Stem cell startup Aldagen raising $10 million, refiles plans for IPO

A year after withdrawing plans for a stock offering, Aldagen renews bid to raise $80.5 million. The venture-backed firm also has raised more than $7 million in debt financing.

Durham startup Argos reports strong results on individualized HIV drug

Compound that is targeted to a patient’s immune system shows effectiveness in regulating AIDS viral load and is safe, company tells global AIDS vaccine conference.

Intersouth-backed Purewire in Atlanta is being acquired by Barracuda Networks

Co-founders of two-year-old Atlanta firm will join California-based Barracuda. Both firms are focused on security.

Intersouth promotes two investment team members to partner

Medical device startup TransEnterix lands $55 million in venture financing

Durham-based Intersouth, Quaker BioVentures and Aisling Capital, which led the round, join a syndicate of investors as new backers. Three-year-old company will use funds to manufacture, sell minimally invasive surgical platform called Spider. It also will hire 50 more employees.

Intersouth leads $9M round in Tennessee-based medical imaging firm

ABT Molecular Imaging is developing a drug delivery platform to cut costs for PET scans.