Skanska to build $137M STEM center at N.C. State

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12/01/2023

NCSU_ISB_Exterior_Northwest (1) — Artist rendering of $136.7 million science building being built on the N.C. State University campus.

N.C. State University picked multinational contractor Skanska to build the $136.7 million Integrative Sciences Building, marking one of the biggest UNC system projects of the year.

The 164,947-square foot building will be used to promote STEM teaching and research as part of the university’s efforts to expand science education. It will include classrooms, teaching and research labs, faculty spaces and a cafe.

Departments using the building will include chemistry, biochemistry and biotechnology research.

The building will “revitalize the marquee Brickyard, one of the nine hallowed places on the north campus,” said Mark Balling, Skanska’s executive vice president for North Carolina and Virginia building operations, in a release. Richmond, Virginia-based Moseley Architects is the building designer.

The project is expected to be completed in September 2026.

Skanska, which is based in Stockholm, Sweden, has previously built several N.C. State structures, including Fitts-Woolard Hall; the Golden LEAF Biomanufacturing Training and Education Center; the James B. Hunt Jr. Library; and Engineering Building III at N.C. State.

Triangle hotel-software firm Inn-Flow raises $45M

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David Mildenberg

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03/17/2025

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Inn-Flow, a Cary-based software provider for the hotel industry, raised $45 million from private equity group Mainsail Partners of San Francisco. The money will accelerate Inn-Flow’s product innovation and help expand the company’s leadership team.

Founder and CEO John Erhart developed the software starting in 2009 to meet challenges facing his family’s hotel management business, CMC Hotels. Inn-Flow launched as a business in 2014 and now has solutions for accounting, bookkeeping, labor management, payroll and business intelligence. It employs 170 people.

“We are committed to providing a robust, user-friendly, all-in-one platform that enables hotel owners and management companies to simplify their operations and grow their business profitably,” Erhart says in a release. “Mainsail’s deep experience in scaling vertical [software-as-a-service] platforms will help us further enhance our software platform to meet the evolving needs of the hospitality industry.”

In 2024, Inn-Flow processed 920,000 invoices, managing over $2.7 billion in payables volume, and reconciling nearly 5,000 bank accounts. The company supported more than 100,000 users, tracking nearly 15 million labor hours and overseeing payroll exceeding $200 million. The company serves operators with as many as 200 hotels, according to its website.

“We love partnering with vertical SaaS founders who were their own first customer,” says Vinay Kashyap, a Mainsail partner. “John’s firsthand experience with the complexities of hotel management led to the creation of a purpose-built, easy-to-use SaaS platform that we believe is well-positioned to transform back-office hotel operations.”

Erhart is a 1996 graduate of NC State University.

It’s the first external capital raised by Inn-Flow, and Mainsail is the sole investor, says Michael Hopkins, the company’s product marketing manager.

CMC operates about 10 hotels in North Carolina, including the Embassy Suites in uptown Charlotte and the Westin near Raleigh-Durham International Airport. It also has dining and real estate interests, according to its website.

High Point biopharm sees shares soar on FDA news

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Kevin Ellis

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03/17/2025

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Shares for High Point-based vTv Therapeutic soared more than 53% on Monday in early trading after the company announced that the FDA had lifted the clinical hold on its late-stage trial for cadisegliatin, a potential adjunctive oral drug for the treatment of type 1 diabetes.

The FDA placed a clinical hold on the trial in July 2024 due to a chromatographic signal in how the drug was absorbed and processed. No patient had been dosed in the trial at the time of the clinical hold, and past clinical studies did not reveal any clinically concerning safety issues. The clinical hold was lifted on March 14, after it was concluded that the chromatographic signal was an experimental artifact, according to the company, which was founded in 2015.

“We are pleased that the FDA has lifted the clinical hold on our cadisegliatin program and are eager to resume our Phase 3 trial,” says CEO Paul Sekhri.

The drug is used as an adjunct therapy meant to maximize the effectiveness of insulin alone. Its aim is to help diabetics maintain blood sugar levels while avoiding incidents of low blood sugar levels, according to the company. The drug has been well-tolerated in more than 500 subjects to date, according to the company.

In a January 2025 presentation to investors, the company reported that 9.4 million people globally have type 1 diabetes and that if the drug were approved it would have the potential for gross sales in the $3 billion to $5 billion range annually.

In its 2023 annual report, the company reported it had 16 full-time employees, with nine of them working in North Carolina. Of its employees, seven worked full-time in research and development, and 10 had graduate degrees, including eight with doctorates.

Shares of vTv Therapeutics have traded between $12.12 and $30.99 in the past year, and closed Friday at $14.82. Shares closed Monday at $22.74, up $7.92 or 53.4%. Shares were up more than $10 or 69% midday. It has a market capitalization of $64 million.

In February 2024, vTv Therapeutics announced a $51 investment in private placement financing that included institutional investor Samsara BioCapital and JDRF, now known as Breakthrough T1D.

The company has reported losses ranging from $20.3 million in 2023 to $13 million in 2021. It has never reported a profit.

UNC gets buzzer-beater bid to NCAA dance; No. 1 seed Duke to play in Raleigh

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Brad King

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03/16/2025

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For bubble team North Carolina, Selection Sunday turned to smiles as the UNC Tar Heels were selected as an #11 seed and will play San Diego State on Tuesday in Dayton, Ohio. No surprise down Tobacco Road: Duke is the #1 seed in the East Region. They’ll play on Friday in Raleigh at the Lenovo Center.

North Carolina home insurance premiums set to rise by mid-2026

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Brad King

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03/16/2025

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A settlement between the state Insurance Department and the insurance industry will result in an average increase of about 15% in home insurance premium base rates in North Carolina by mid-2026. This agreement contrasts with a previous request by the N.C. Rate Bureau, which sought a 42.2% increase. The increases will be implemented in two stages.

Forsyth, Guilford could share state senator under N.C. House bill

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Brad King

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03/16/2025

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Forsyth and Guilford counties, as well as North Carolina’s other urban counties, could be represented by just one state senator if a N.C. House bill becomes law. In fact, if House Bill 234, titled “Little Federal Model NC Edition,” becomes law, Forsyth and Guilford could be joined to have just one senator, as well as Durham and Wake counties.

WNC small businesses struggle to reopen after Helene

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Brad King

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03/16/2025

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Months after flooding from Helene devastated businesses in Swannanoa, small business owners like Zella’s Deli continue facing setbacks. Permitting delays and financial hurdles forced the deli to relocate to East Asheville. Owners say larger chains reopened quickly, while local businesses still struggle.

Capital One leasing corporate office in Charlotte’s South End

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Brad King

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03/16/2025

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Capital One Financial Corp. is opening its first Charlotte office, leasing the 13th floor of The Line in South End. The bank filed $4 million in renovation permits for the 34,500-square-foot space. Capital One currently has employees in Charlotte working remotely but lacks local branches.

N.C. A&T expands engineering ties with Collins Aerospace

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Brad King

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03/16/2025

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N.C. A&T State University has named a conference room within its Martin Engineering Research and Innovation Complex for Collins Aerospace. Collins, one of three RTX Corp. business units, has about 1,500 employees in Winston-Salem. In January, N.C. A&T and Collins announced a partnership with the College of Engineering.

ABC Commission: 50+ N.C. businesses face $62K in fines for alcohol violations

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Brad King

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03/16/2025

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North Carolina Alcoholic Beverage Control officials announced that more than 50 businesses across the state have been cited for alcohol-related violations, resulting in over $62,000 in fines or license suspensions. Establishments, including bars, restaurants and stores, must choose to either pay the penalties or accept a suspension. The ABC Commission reviewed 52 cases.

Waynesville Rotary marks 100 years of service, impact

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Brad King

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03/16/2025

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Waynesville’s Rotary Club celebrates a century of local and global service, with leaders aiming to strengthen the connections that have defined its legacy. Founded in 1905, Rotary has grown from a small Chicago network into a worldwide force for goodwill and community service.