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Raleigh Triangle Local and Business News

  • Legislators meet in Raleigh, real work starts Jan. 28

    They came, they raised their hands.

    Then they left for two weeks.

    The North Carolina General Assembly went into its first session of 2015 at 9 a.m., with the Senate following at 11. Wednesday was about housekeeping – formally electing leaders. No surprises there, with Rep. Tim Moore (R-Cleveland) named House Speaker, replacing Thom Tillis who just won a U.S. Senate seat.

    Rep. Paul Stam (R-Wake) is now speaker pro tem for the General Assembly and Sen. Phil Berger (R-Rockingham) was elected president…

  • Durham drug company raises $37M for migraine treatment

    Durham’s CoLucid Pharmaceuticals raised $37 million to continue development of a drug for migraines and headache pain.

    It’s an important area of need. Some 36 million people suffer from migraines – or more than those who have asthma or diabetes combined. Migraine is ranked as the seventh highest cause of global disability and is one of the top 10 causes of disability in 14 of 21 world regions studied, according to findings by the Global Burden of Disease Survey 2010 conducted by the World Health…

  • Nomacorc founder, new partner buy back majority stake in synthetic cork business

    Nomacorc founder Marc Noel has found a new equity partner to buy back majority ownership in his Zebulon synthetic wine cork company, and the new partners are hinting that growth through acquisitions could be in the works.

    Bespoke Capital Partners, a New York private equity fund, announced recently that it has partnered with Noel to buy out Summit Partners, the private equity firm that acquired a majority stake in Nomacorc in 2007, in an effort to recapitalize the business.

    Terms of the deal were…

  • John Kane proposes big tower project at Dillon Supply site in downtown Raleigh

    Raleigh developer John Kane and the owners of the Dillon Supply Co. in downtown Raleigh have filed the first Raleigh rezoning application for 2015, and it’s a big project that’s likely to attract a lot of attention throughout the year.

    Kane has confirmed that his company, Kane Realty Corp., is working on plans to build a large-scale, mixed use development project in downtown Raleigh’s burgeoning Warehouse District.

    The development would be on the 2.5-acre site that Dillon Supply, a 100-year-old…

  • In North Carolina, 434,503 choose Obamacare plan

    In North Carolina, 434,503 individuals have chosen an Affordable Care Act plan, the private insurance plans available on the HealthCare.gov Marketplace.

    The Obama Administration announced state-by-state figures on the eve of the second Open Enrollment deadline. For anyone seeking coverage to begin Feb. 1, the deadline is Thursday. Individuals can still meet the third deadline of Feb. 15 for coverage beginning March 1.

    The figures released Wednesday mean 184,719 North Carolinians signed up in the…