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Administration approval clears the product for use during cardiac and major orthopedic surgeries. Boon, an app that helps connect licensed health care professionals to contract work opportunities, launched on June 3. The company, which is based out of WeWork, plans to bring dental professionals into area offices by August and will move into veterinary and medical offices by 2020. The Durham-based global orthobiologic company Bioventus and the Edison, New Jersey-based nonprofit MTF Biologics – the largest human tissue bank in the world – are collaborating to develop new methods of using placental tissue to treat knee osteoarthritis. Sense Photonics, a Durhambased company focused on building LiDAR (light detection and ranging) and 3D sensor solutions for autonomous vehicles, industrial equipment and other applications, completed a stealth mode stage on June 12. It announced that it had raised $26 million in venture capital during the period. In June, Tergus Pharma, a pharmaceutical company providing research, analytics and drug development services, purchased a 97,000-square-foot building at 4018 Stirrup Creek Dr. Tergus plans to make the facility – which it bought from the New Jersey-based Lifestar Pharma for $8.5 million – its new headquarters. An investment from Great Point Partners, a Connecticut-based health care investment firm, will help Tergus convert the building to a manufacturing facility for semisolids, aerosols and solutions.

BOOKIN’ IT

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In March, Thomas Gasparoli, a columnist for The Durham Herald Sun, published “Leading By Example: The Henry Scherich Story,” a nonfiction book on the life and legacy of Henry Scherich, founder and CEO of Measurement Inc.

ACQUISITIONS

West & Woodall Real Estate acquired South East Real Estate Management Company in June. With the purchase, West & Woodall will assume oversight of South East’s former homeowner associations, and residential and commercial properties. The acquisition almost doubles the size of its portfolio.

LOSSES

and Engineering Fair in Phoenix, Arizona, the world’s largest international pre-college science competition. In the Biomedical Engineering category, Jason Li won fourth for his project, “A Novel Multimodal Wearable Sensor System for Continuous Monitoring of Chronic Diseases.” In the Transfusion Medicine category, Ishaan Maitra won fourth Jason Li for his project, “Battling Blindness in Premature Babies: An Image Processing and Machine Ishaan Maitra

Learning Based Application for Early Detection and Prevention of Retinopathy of Prematurity.” The awards came with $500 prizes.

IN OTHER NEWS Residential rents in Durham rose 3.7% over the past year, according to Apartment List, and rose 1.5% in June, the third straight month of increases. Since 2014, rents in Durham have grown by 17.1%, outpacing the national average of 12.7%. The median rent for a twobedroom apartment in Durham is currently $1,130 compared to the national average of $1,190. Duke University ranks No. 10 on RENTCafé and No. 8 in U.S. News for colleges with the most affordable rent prices within one mile of campus.

In May, Lenovo, one of the Triangle’s largest tech employers, laid off about 500 employees globally, including about 20% of its Data Center Group at the company’s office in Morrisville. The company now has about 3,000 employees in the Triangle area. Crystal Transportation Services of NC, a Durham trucking and storage company, filed for Chapter 11 bankruptcy reorganization in June. Organic Transit, a Durham firm that created solar-powered carbike hybrids, filed for Chapter 7 bankruptcy in June. The filing, signed by company president Rob Cotter, lists more than $2.6 million in liabilities.

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AWARDS AND HONORS

In May, two students from North Carolina School of Science and Mathematics won awards at the 2019 Intel International Science

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August 2019 • durhammag.com • 83

Profile for Shannon Media

Durham Magazine August 2019  

Durham Magazine August 2019