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Investment firm tied to Quintiles seeks $500 million

A private-equity firm started by former Quintiles executives is seeking to raise $500 million to invest in health-care companies.

NovaQuest Capital Management has attracted $177 million as of this month, the Raleigh-based firm reported in a Securities and Exchange Commission filing.

The firm's directors include Ron Wooten and John Bradley.

Wooten and Bradley previously helped run the NovaQuest division of Durham-based Quintiles, which invested money in other companies' promising experimental medicines. Now NovaQuest Capital has licensed that name from Quintiles, and Quintiles is a minority investor, said spokesman Phil Bridges.

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