Pappas Ventures today announced that industry veteran Michael Grey has been named a venture partner.

Venture capitalists have always preferred their backyards. This preference is captured in the so-called "20-minute rule," which describes an investor's tendency to invest in companies located within a 20-minute drive of the fund's office.

Arthur M. Pappas, MBA, founder and managing partner of the Research Triangle Park venture capital firm Pappas Ventures, has been elected chairman of the North Carolina Biotechnology Center's Board of Directors.

Plexxikon Inc. announces that enrollment has been initiated and the first patient has been treated in the first of two pivotal trials of PLX4032 (RG7204) in patients with metastatic melanoma. PLX4032 is a novel, oral and highly selective drug that targets the BRAFV600E cancer-causing mutation occurring in about 50 percent of melanomas and about eight percent of all solid tumors. This single arm Phase 2 B-Raf Inhibitor in Melanoma (BRIM2) trial for previously-treated metastatic melanoma patients, along with a randomized, controlled Phase 3 trial (BRIM3) expected to start by the end of 2009 in first-line patients, are part of the planned registration program for PLX4032. The initiation of the Phase 2 trial has triggered a significant milestone payment to Plexxikon from Roche. Plexxikon is entitled to receive additional payments for milestone achievements as well as royalties on sales of PLX4032. Plexxikon and Roche are co-developing PLX4032 under their 2006 license and collaboration agreement.

As Art Pappas makes plans for his eventual retirement, he's counting on the recent stock-market rebound to help some of the promising young companies he backs gain favor on Wall Street.

Pappas Ventures today announced that Eric W. Linsley has been promoted to Managing Partner.

To continue the state life science industry’s record-setting growth rate, the North Carolina Biotechnology Center, with the help of statewide partners, is building an addition to its Research Triangle Park headquarters.

To continue the state life science industry’s record-setting growth rate, the North Carolina Biotechnology Center, with the help of statewide partners, is building an addition to its Research Triangle Park headquarters.