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firm with a higher education practice, to deliver a proactive, technology-driven tool to assist in mitigating health risks and monitoring student health to help support universities and colleges as students return to campus. Orthobiologic company Bioventus made a $15 million equity investment into CartiHeal, the developer of an implant to treat joint surface lesions. This funding will allow CartiHeal to complete its investigational device exemption study and apply for premarket approval from the Food and Drug Administration. Part of the agreement is that Bioventus will acquire CartiHeal shortly after it’s granted FDA approval. Modern Energy partnered with EIG Global Energy Partners to create a $100 million debt facility to fund the development of clean energy assets. “A combination of rapid cost reductions in clean energy asset classes, favorable regulatory regimes and innovative financing structures are unlocking a multi-trilliondollar opportunity to invest in the global energy transition,” Mark Laabs, CEO and co-founder of Modern Energy, said in a statement. Global health care industry management consulting firm Vynamic and Innovations in Healthcare formed a partnership to source, strengthen, study and scale promising innovations across all health care sectors. Innovations in Healthcare, a Duke University affiliate and Durhambased nonprofit with a vision to scale health care innovations worldwide, operates in more than 90 countries. The announcement follows Vynamic’s opening of its fourth office in Durham earlier this year. The partnership will also see Vynamic CEO Jeff Dill added to the IiH board of advisors. 114

GIVING BACK

In July, Durham Technical Community College received $129,857 from Duke Energy as part of the company’s 2017 pledge to donate $5 million to apprenticeship programs at North Carolina community colleges. The grant supports student tuition and classroom materials for Durham Tech’s Electrical Line Technician course, which was launched in 2019 through another Duke Energy grant. This was the sixth and last round of funding from the pledge, which supported 23 community colleges in total. Durham Tech also launched the Back-to-Work Initiative to combat the rise in unemployment due to COVID-19. The initiative provides short-term, fully online classes in industries such as biotechnology, skilled trades and more to help job seekers quickly find positions in industries that are currently hiring. UNC Health and the UNC School of Medicine created the Heroes Health app to provide mental health support to health care workers and first responders. Workers can take weekly assessments to better understand their emotional state, and the app suggests free or low-cost mental health resources. The initiative was founded by Dr. Samuel McLean, a COVID-19 unit worker and COVID-19 survivor. “It’s important to give first responders and health care workers a simple, quick way to regularly check in on their mental health and immediately find resources,” he said. Orange County Economic Development awarded $5,000 grants to 52 Orange County businesses in July as part of a second round of COVID-19related financial assistance.

In Carrboro, nine businesses received funding: Carrboro Massage Therapy, Flow Beauty, Kate Kager Smith Massage Therapy, Mel’s Commissary & Catering, Spira Pilates Studio, TEJASE healing arts, Thirteen West, Vanessa Adams Hair & Makeup and the UPS Store in Carrboro Plaza. In Chapel Hill, 32 businesses received funding: Ai Software Corporation, Best of M LLC, Blue Dogwood Public Market, Rasa Indi-Chinese Restaurant, Brother Sister Co., Glimmerfae Creations, Carol’s Electric, Cedar Falls Cleaners, Classic, Country Inn Kennel and Cattery, Connect Chiropractic, Avis & Budget Rent A Car, Hannah’s Home Health & Care Consulting, Heartwood Holistic Health, Honey Magpie, Immersion Island, Might as Well Bar & Grill, KC Travel, Learning Well LLC, Maitland & English Law Firm, Metropolis, Queen’s Hair Design, Restoring Balance, Rolling Hills Stables, Little Owl’s Nest, Franklin Mart, Stratus TMS, The Balance Point Acupuncture & Wellness, Todrin Fine Woodwork, Triangle Yoga, VibeHouse405 and Four Corners. In Hillsborough, seven businesses received funding: Cabana Boy BBQ, DonLee Salon, EVERLY’S, Shekinah Wear, Southern Vintage Table, Tiger Cleaning and Yonder: Southern Cocktails and Brew. Get Lit Event Lighting in Hurdle Mills and Pro Video in Rougemont received funding. Two businesses received funding in Mebane: MidSouth MotoX and Red Tail Grains.

from Duke University for grants, and approximately $2 million in public funds for loans from both the City of Durham and Durham County. So far, 81 Durham businesses have received assistance. “Since the program’s launch on June 18, the fund has distributed over $750,000 to small business applicants throughout the city,” said Andre Pettigrew, director of the City’s Office of Economic and Workforce Development. “The program has reached businesses across several industries, including hospitality businesses; performing arts facilities; transportation services; personal care and laundry businesses; and outpatient care centers. The grant recipients were also demographically diverse, with approximately 56% granted to minority-owned businesses and 62% granted to women-owned businesses.” The average grant award is approximately $7,500, and the average loan amount is slightly more than $33,000.

Durham’s Small Business Recovery Fund, which was established to provide loan and grant funds for businesses adversely affected by the COVID-19 pandemic and consists of $1 million in private money

Boron-based discovery platform company Boragen Inc. in Research Triangle Park won a $300,500 Phase I Small Business Innovation Research grant from the National Institute of Allergy and Infectious Diseases of the

FUNDS & GRANTS

North Carolina Central University professor Dr. Xiaoxin Luke Chen was awarded $2.7 million by the National Institutes of Health to investigate new treatment options for a type of esophageal cancer that disproportionally affects African Americans. The award, to be distributed over five years, will support Dr. Chen’s research into the role of a molecular pathway in esophageal squamous cell carcinoma, an understudied type of cancer that resists treatment by traditional therapy.

Profile for Shannon Media

Durham Magazine Sept 2020  

The Food and Drink Issue

Durham Magazine Sept 2020  

The Food and Drink Issue

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