Business briefs

Aug. 26, 2013 @ 06:13 PM

Durham burn treatment developer awarded U.S. contract

DURHAM – The U.S. Department of Health and Human Services has a contract with Durham-based Novan Therapeutics to help the company develop a thermal burn treatment.

The Biomedical Advanced Research and Development Authority awarded the contract that will provide funding of $7.8 million across two years to the company.

It will help support development of a nitric oxide-based therapy as a topical treatment for thermal burns.

According to a company news release, nitric oxide, a molecule produced by the body, has been demonstrated to speed migration of epidermal cells, to stimulate new blood vessel growth and to help control inflammation, among other benefits.

“Our platform technology has allowed us to pursue the development of drugs intended to harness the healing power of nitric oxide with results extending far beyond bioterrorism,” said Nathan Stasko, president of Novan, in a news release. “We believe the NOAH technology creates a gateway into regenerative medicine and could lead to therapies that can help heal both acute and chronic wounds.”

Startup Factory partners eye expansion

DURHAM – The leaders of Durham’s technology start-up accelerator have “very preliminary” plans to expand operations outside of the Triangle.

Recently redubbed “The Startup Factory,” the accelerator provides funding and mentoring for early-stage technology businesses from office space in downtown Durham. The program was previously called the Triangle Startup Factory.

Chris Heivly, one of two partners behind the accelerator, said the partners are considering expanding outside of the Triangle. He said it’s too early to say how it would be staffed, but he said the leaders of the accelerator would stay in Durham.

“Any decision would be a combination of what we see what the community would support,” he said in an email.

The fourth session of the accelerator started Monday. The last session is scheduled to be in the fall of 2016.

Carolina Bank opens Chapel Hill home mortgage office

GREENSBORO -- Carolina Bank is holding an open house Thursday for a new Carolina Bank Residential Mortgage office in Chapel Hill.

The event will be from 4 to 6 p.m. at the office at 1516 E. Franklin St., Suite 202., and will include a ribbon-cutting ceremony. The new office serves as the base for two residential mortgage advisors.

Greensboro-based Carolina Bank Holdings Inc. has more than 200 employees with banking locations in Greensboro, High Point, Burlington, Asheboro and Winston-Salem. It has residential mortgage offices in Burlington, Raleigh, Hillsborough and Chapel Hill.