CED's Entrepreneurs Community News

CED Member Spotlight: Alston & Bird LLP

For more than a century, the full-service law firm Alston & Bird LLP has provided excellence in a variety of practice areas, earning them such accolades as placement in Fortune magazine's "100 Best Companies To Work For" for 10 consecutive years and employing 120 lawyers listed in Best Lawyers in America 2009. The firm's Triangle practice has found a niche in intellectual property, and is a part of the firm's intellectual property practice, which is one of the largest of any general practice firm in the U.S.

About Alston & Bird's Raleigh Office

Alston & Bird employs 900 attorneys and 2,000 people overall throughout the U.S. Their practice areas range from antitrust to wealth planning. The firm's roots date back to 1893, and it has experienced significant growth through expansion and mergers (including the 1997 merger with Bell, Seltzer, Park and Gibson that established the Raleigh office). The attorneys in the Raleigh office concentrate their practice in intellectual property - patent work, specifically targeting biotechnology, chemical and pharmaceuticals, mechanical, medical devices and more. The office boasts a tax practice with the former associate chief counsel (corporate) of the Internal Revenue Service.

A Vision For Biotech Growth
Alston & Bird, through members such as Murray Spruill, chair of the firm's Biotechnology and Pharmaceutical Patent Group and managing partner of the Raleigh office, recognizes the value in nurturing the area's bustling biotechnology sector. "It is important to ensure that biotech flourishes not only in Research Triangle Park, but throughout North Carolina," said Spruill. To that end, the firm has partnered with CED to help promote the industry through the Biotech 2009 conference and other efforts. "We have aligned with CED because it is a leader in our community, as well as throughout the country, by attracting industry experts to the area" said Spruill. "We hope our combined efforts can help promote and encourage our growth in biotech."

Alston & Bird LLP is a long-time CED member and supporter. In addition to contributing to both Innovation to Impact campaigns at the major benefactor and supporter levels respectively, the firm is a perennial sponsor of CED's conferences and programs. Most recently, Alston & Bird was the headline sponsor at CED's Biotech 2009 conference.

It's Tax Time - Where Are Your Receipts?

There is a new CED member company that may be able to help you during tax time. Shoeboxed, a Durham based start up, offers a free web site where you can store and organize all your receipts and business cards. The company has a receipt mail-in program through which Shoeboxed will scan your receipts, extract the data, and make it available through a secure website. Once there, you can export your data in various formats including QuickBooks, Quicken, Excel, and CSV for use in accounting, bookkeeping, or CRM applications.

If you need a little more assistance, there are many companies within CED's membership that have tax expertise. Among them: Boyce Furr and Company LLP; Dixon Hughes, PLLC; Grant Thornton LLP; Hughes Pittman & Gupton, LLP; PricewaterhouseCoopers LLP; Nelson & Company P.A.; and Thomas, Knight, Trent, King and Company.

Pappas Ventures Raises $96 Million for Fourth Fund

Pappas Ventures, an RTP-based venture capital firm that focuses on the life sciences industries, has raised $96 million, nearly half its $200 million goal, for its fourth investment fund. The firm invests in biotechnology, specialty pharmaceuticals, drug delivery, medical devices and related ventures with a mission of bringing promising technologies to commercial application - from concept to commerce.

Pappas Ventures is a long time CED member and supporter. In addition to contributing to CED's Innovation to Impact campaign at the supporter level, the firm is a perennial sponsor of CED's Venture and Biotech conferences. Currently, Eric Linsley, a partner at the firm, is serving as a steering committee member for CED's Medtech 2009 conference and a CED board member.

Haynes named TBJ's 2008 Businessperson of the Year

Victoria Franchetti Haynes, president and CEO of RTI International, has been named as the Triangle Business Journal's 2008 Businessperson of the Year. Under Haynes' direction, the company has grown in both size and revenue; adding more than 900 positions in the last decade and reaching an all-time revenue high in 2008. RTI International is one of the world's leading research institutes, dedicated to improving the human condition by turning knowledge into practice.

RTI International is a long time CED member and supporter. Currently, CED has partnered with RTI International and Percept Research to commence a research initiative designed to provide a snapshot of the needs of the entrepreneurial community in North Carolina. Percept Research and RTI International are managing the study.

6th Sense Analytics Acquired by Rally Software

6th Sense Analytics, a privately held, Morrisville-based developer of automated metrics collection and analysis tools for software development organizations, has been acquired by Rally Software Development Corp., a provider of software product lifecycle management tools.

6th Sense Analytics has been a CED member since 2004.

Overture Networks Acquires Ceterus Networks

Overture Networks, a provider of Ethernet products, has acquired Ceterus Networks, a Texas-based provider of optical Ethernet access products for cell site backhaul. Financial terms of the deal between the two privately held firms were not disclosed.

Overture Networks is a long time CED member. Company president and CEO, Jeffrey Reedy presented at CED's Venture conference in 2001, 2002, 2004 and in 2006.

NC IDEA Awards 5 Grants

NC IDEA has awarded nearly $200,000 in grants to five early-stage companies. These awards represent the sixth cycle of the grant program which helps fund companies between initial product development and venture capital funding. The grants support business plan research and development and aim to reduce the risk of early failure by advancing projects to the point of self-sustainability.

Three CED members, BioMedomics, Inc., InnerOptic Technology, Inc. and Spoonflower, Inc. are among the winners of the fall-cycle grants.

BioMedomics, Inc. develops diagnostic platforms and disposable test trips used at point of care and based on molecular diagnostics. The company has been a CED member since 2007. In addition to regularly attending CED programs, company CEO, Frank Wang was a presenter at CED's Opportunity 2007 conference and at CED's Venture 2001 conference.

InnerOptic Technology, Inc. is a medical device company that offers an advanced visualization device to be used in tumor ablation. The company has been a CED member since 2004. Company president, Brian Heaney has demonstrated their technology at CED's Infotech 2003 and 2004 conferences and again at CED's Tech 2006. In 2007, Heaney presented at CED's Venture conference.

Spoonflower, Inc., a company that produces custom, on-demand fabric printing, joined CED in 2008 and recently completed FastTrac® TechVenture™, a Kauffman Foundation class offered by CED.

NC IDEA is a long time member and supporter of CED. The firm's members regularly volunteer their time and expertise in the development of CED program content. In addition, president and CEO, David Rizzo, serves on CED's board of directors.

Oncoscope Inc. Closes a Series A Round

Durham-based Oncoscope Inc. announced it has closed a Series A round of funding. IDEA Fund Partners led the funding with participation from Southeast TechInventures and angel investors. Oncoscope, Inc develops proprietary optical imaging systems that aid the early detection of cancers in the esophagus, colon and other internal organs.

Oncoscope, Inc. joined CED in 2007. Since then, the company has been actively engaged in CED programs and events. The company presented at CED's Venture 2007 conference, participated in CED's FastTrac® TechVenture™, and received an award at CED's Entrepreneurial Excellence Awards in 2008.

Oncoscope investors, IDEA Fund Partners and Southeast TechInventures, are also CED members and supporters. Since joining CED, IDEA Fund Partners has been a perennial sponsor of CED's major conferences. The firm's members regularly volunteer their time and expertise in the development of CED program content. In addition, managing partner, David Rizzo, serves on CED's board of directors. Southeast TechInventure CEO, Karen LeVert, contributes time as a FastTrac® TechVenture™ mentor, a CED board member, and is a co-chair for CED's Medtech 2009 conference.

CED Member Publishes Book on Corporate Culture

Corporate Families: The Next Evolution In Teams is now available from Morgan James Pub Books. The book outlines processes to increase worker productivity, decrease turnover and absenteeism, and enhance a corporate team. Author Brian Darocha, created a curriculum based on the processes outlined in his new book which he uses to train corporate managers, supervisors, and employees.

Darocha joined CED in November 2009. His first introduction to the organization was an Entrepreneurs Only Workshop™ which focused on corporate culture. Corporate Families: The Next Evolution In Teams is available from amazon.com or from www.teamstofamilies.com.

Quintiles Acquires Targeted Molecular Diagnostics

Quintiles Transnational Corp., an RTP-based contract research company providing clinical research services for biotech and pharmaceutical clients, acquired Targeted Molecular Diagnostics (TMD). TMD is a privately held specialty diagnostic laboratory serving the drug development process; they are focused on the oncology industry.

Quintiles Transnational Corporation has been a CED for more than a decade. Company chairman and CEO, Dr. Dennis Gillings, was a CED Entrepreneurial Excellence award winner in 2007; the same year he was a keynote speaker at CED's 25th anniversary Venture Conference. In February, Dr. Gillings will be a featured speaker at CED's Biotech 2009 conference.