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Durham County, N.C., Biotech KBI Struggles to Complete Startup Financing.

By Amy Martinez, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News

Mar. 12--KBI BioPharma paid $15.5 million in August for the former Mitsubishi semiconductor plant in northern Durham County, promising to put 550 people to work during the next five years making drugs and vaccines.

But seven months later, the start-up is still looking for money to begin operations and now warns that the rapid growth it once envisioned appears in jeopardy.

The latest setback occurred Wednesday, when the state Golden LEAF Foundation failed t

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