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.