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NCBiotech Portfolio Companies Raise $128 Million in Q4

By Barry Teater, NCBiotech Writer

Eighteen bioscience companies previously funded by NCBiotech loans raised more than $128 million in follow-on funding from other sources during the fourth quarter of 2016-17.

Leading the way was G1 Therapeutics, a clinical-stage oncology company based in the Research Triangle Park. The company raised $108.6 million in an initial public offering of stock.

Other financing deals in the seven figures included:

Historically, for every $1 loaned to them by NCBiotech, companies have raised $103 in follow-on funding from other sources including venture capital, angel investments, grants, stock offerings and debt financings.

Since its founding in 1984, NCBiotech has awarded 293 loans to 201 companies statewide. Those companies amassed more than $3.9 billion in subsequent funding.

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