NanoCor Raises Series B

NanoCor Therapeutics Inc., a Chapel Hill, N.C.-based developer of an intracellular genetic protein therapy for the treatment of chronic heart failure, has raised $3.75 million in Series B funding from Medtronic. The deal also includes a second $3.75 million tranche, payable when NanoCor achieves certain milestones. NanoCor was launched in August 2005 as a spinout from  Asklepios Biopharmaceutical Inc.