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Metabolon raises $13.1 million to fund expansion

A Durham company that helps test medicines and other products for pharmaceutical firms, universities and other customers has raised $13.1 million in venture financing.

Metabolon will use the money to hire additional workers and to expand its business. The company is developing its own tests, including one to detect insulin resistance, which can lead to Type 2 diabetes.

Founded in 2000, Metabolon expects 2011 revenue to rise to about $20 million.

The company has raised about $45 million in venture financing, and recently was named as one of 13 candidates for an initial public offering of stock by Fortune magazine.

Liquidia begins early testing of flu vaccine

Liquidia Technologies has started early clinical testing of its first vaccine developed using nanotechnology.

The Durham company, which has raised $25 million in financing this year, is testing a seasonal flu vaccine aimed at adults over 65.

Liquidia is also developing experimental cancer treatments and other products based on the nanotechnology research of founder Joseph DeSimone, a chemist at N.C. State and UNC Chapel Hill.

The flu vaccine will require years of clinical testing before it can win marketing approval from U.S. regulators. The vaccine is designed to have tiny particles deliver the medicine more safely and effectively.

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