Business briefs

Nov. 14, 2013 @ 07:02 PM

Durham foreclosure filings down in October

DURHAM – Foreclosure filings were down 15 percent year-over-year in Durham County in October, according to N.C. Administrative Office of the Courts data.

In the year through October, the total number of cases involving a foreclosure filing in the county was also down. The total was down 30 percent to 1,010 cases with a filing.

In all of North Carolina in the 10 months through October, cases with foreclosure filings were down 28 percent. There were 3,687 cases with a foreclosure filling in October in the state, which was down 30 percent.

Chimerix reports third-quarter loss

DURHAM – Durham-based Chimerix, a company developing oral antiviral treatments that made its debut on the stock market earlier this year, reported a net loss of $6.7 million in the third quarter.

That’s compared to a net profit of $11.1 million in the same period last year. Last year, the company was profitable in the quarter because of a one-time payment tied to a licensing agreement for its HIV infection treatment to Merck.

The company’s lead product candidate is a clinical-stage compound designed to block replication of double-stranded DNA viruses, including cytomegalovirus, which is one of the herpes viruses, as well as adenovirus, BK virus and herpes simplex virus. Chimerix started a Phase 3 trial for the prevention of cytomegalovirus in recipients of bone marrow transplants. The virus causes life-threatening infections in patients whose immune systems are compromised after receiving a transplant or other therapies.

Enrollment of the planned 450 subjects is on track to deliver pivotal data in mid-2015.

Triangle Startup Weekend to return

DURHAM – The entrepreneurship-focused Triangle Startup Weekend is coming to Chapel Hill this weekend.

The event will allow entrepreneurs to form teams to build prototypes for new businesses in a single weekend. The kick-off of the event is 5 p.m. today.

About 70 entrepreneurs had already signed up for the event by Thursday evening, and more are anticipated to come as registration is open until 7:30 a.m. Saturday.

The 54-hour event will begin with pitches for ideas for new start-ups. Entrepreneurs will them form teams behind the best ideas. The teams will then work on validating their ideas and begin building minimal viable products.

On Sunday evening, teams will demonstrate their prototypes to a panel of experts.

The weekend is a part of the nonprofit initiative Startup Weekend, which helps to coordinate entrepreneurial-focused events around the globe.

The event will be at the University of North Carolina at Chapel Hill Student Union, at the corner of South and Raleigh roads in Chapel Hill. 

For more information, go to the website http://triangle.startupweekend.org/.

Liquidia spins out new company

DURHAM – With the backing of $25 million from investors, Liquidia Technologies has spun out the new biotechnology company Envisia Therapeutics to focus on developing eye therapies.

Envisia’s lead product candidate is a glaucoma treatment called ENV 515 that’s designed to reduce fluid pressure in the eye. Michael Parks, a company spokesman, said in an email that ENV515 is in pre-clinical development as an implant that would work for six months or more, rather than requiring daily administration.

In addition, Envisia is using its Particle Replication In Non-Wetting Templates, or PRINT, technology, to create small-and-large-molecule eye treatments.

“With the formation and financing of Envisia, now we have the ability for both companies to optimally focus on their respective therapeutics areas – ophthalmology for Envisia, and vaccines and inhaled therapeutics for Liquidia.”

Liquidia employs about 60 people, Parks said in an email. About a third of that workforce will move to Envisia in the first phase.