Good news to early-stage biotech companies in North Carolina: The North Carolina Biotechnology Center offers "bridge" loan programs, helping young companies to survive that stage between initial seed funding and later large investments from venture capitalists or public investors. The funds may not be used for actual "brick-and-mortar construction" or to pay corporate executives, but may be earmarked for:

• funding research
• hiring nonexecutive employees
• securing patent rights, and
• pursuing business development and licensing deals

For more information about the loan program, visit the NCBC website.

Source: The Business Journal