Even with all the roasting, basting, and digesting everybody had to do last week, Boston-area tech businesses still managed to cut a few deals:
—Biogen Idec (NASDAQ: [[ticker:BIIB]]) agreed to pay Swiss startup Neurimmune Therapeutics as much as $380 million for potential treatments for Alzheimer’s disease, which Biogen will develop and commercialize.
—Diagnostics maker Inverness Medical Innovations (AMEX: [[ticker:IMA]]) of Waltham, MA, netted $806.4 million in a secondary stock offering, dramatically exceeding initial expectations of the deal.
—Burlington, MA-based Kalido, a data warehousing and management software firm, garnered $10 million in Series D funding from the likes of Atlas Venture, Balderton Capital, and Matrix Partners.
—Alkermes (NASDAQ: [[ticker:ALKS]]), a biotech in Cambridge, MA, announced it will reap up to $174 million in cash as part of GlaxoSmithKline’s acquisition of Liberty Corner, NJ-based Reliant Pharmaceuticals. Alkermes had purchased a roughly 19 percent stake in Reliant for $100 million in 2001; in 2002, it announced an agreement to acquire the rest of the company, but it cancelled the merger plans later that year. Alkermes plans to use the proceeds from the GSK deal, along with existing funds, to repurchase up to $175 million of its common stock.
—Dialysis-device maker NxStage Medical (NASDAQ: [[ticker:NXTM]]) of Lawrence, MA, announced it has forged a $50.0 million credit and security agreement with a group of lenders led by Merrill Lynch Capital. The deal includes a $30.0 million term loan and a $20.0 million revolving credit facility. NxStage raised a net $57.1 million in its October 2005 IPO, and netted $44.6 million in a follow-on offering in June of 2006.
