Another section of the Apex Peakway - the road between Laura Duncan and Old Raleigh roads - has been completed. The town will host a ribbon-cutting ceremony at 1:45 p.m. today near the intersection on Laura Duncan Road.

Construction of this 1,100-foot portion began in August and cost $650,000 to complete.

The only two remaining gaps in the loop are between Tingen Road and Old U.S. 1 and between N.C. 55 and Schieffelin Road. Completion of these sections is contingent upon future growth.

"We are excited to open this new portion of the Apex Peakway," said Mayor Keith Weatherly. "This route will enable drivers to bypass congestion in the central business district and avoid the majority of the train traffic, and give our citizens an easier method to reach the major thoroughfares of S.R. 1010, Old Raleigh, Laura Duncan, Salem Street, (N.C.) 55, Olive Chapel Road and Old U.S. 1."

AirDat expands into Europe

From staff reports

Weather technology company AirDat is expanding into Europe.

Morrisville-based AirDat, which sells weather data gathered from sensors mounted on airplanes, announced Dec. 7 that it has teamed up with Flybe, Europe's largest regional airline. Under the deal, AirDat's sensors will be installed on up to 100 Flybe planes, starting with 20 scheduled to be equipped by next May.

The agreement paves the way for AirDat to sell its data to European government agencies and weather-sensitive businesses, such as utilities and wind farms.

CEO Jay Ladd said the 45-employee company is in discussions with a number of potential customers.

The revenue from those deals, he said, would more than offset the recent expiration of the company's contract with the parent of the National Weather Service, the National Oceanic and Atmospheric Administration.

"At the moment our contract is lapsed," Ladd said. "We are working with them to come to a new understanding, but it is going to be a slow process," given the constraints on the federal budget.

Drug researcher raises $4.85M

From staff reports

A Cary drug research company announced Friday that it had raised $4.85 million in private financing, bringing the total amount it has raised to nearly $60 million.

CeNeRx BioPharma plans to use the money to finance its Phase II trials of TriRima, a drug under development for treatment-resistant depression, one of the most devastating forms of mood disorder.

The company is enrolling 360 patients to test the drug and expects to complete the study by the middle of next year.

There are limited medications available for treatment-resistant depression, typically anti-psychotics with significant side effects and without long-lasting benefits.

TriRima is designed as a single medication to replace the risky drug cocktails used for treatment-resistant depression.

CeNeRx, formed in 2005, has a dozen employees.