BG Medicine, Bottomline, 4s3 Bioscience Among the Week’s Dealmakers

Partnership news, funding announcements, and an acquisition made up the New England deals news in the past week.

—Concert Pharmaceuticals sold a worldwide license of its psychiatric drug to California-based Avanir Pharmaceuticals (NASDAQ: [[ticker:AVNR]]). The Lexington, MA-based biotech received an undisclosed upfront payment and is eligible for more than $200 million in additional sales and development milestones.

—Tata Motors, India’s largest automaker, enlisted Watertown, MA-based A123 Systems (NASDAQ: [[ticker:AONE]]) to supply the lithium-ion battery packs for its line of hybrid electric buses and other commercial vehicles.

—GE Capital Healthcare Financial Services announced that it provided Waltham, MA-based diagnostics company BG Medicine with a $15 million term loan facility. BG Medicine (NASDAQ: [[ticker:BGMD]]), which recently launched its BGM Galectin-3 test for heart failure patients, will use the money for commercialization and growth capital.

—Portsmouth, NH-based Bottomline Technologies (NASDAQ: [[ticker:EPAY]]), a maker of payment and invoice automation software, announced Monday that it will acquire the commercial banking business of Intuit (NASDAQ: [[ticker:INTU]]), as part of a new strategic partnership it formed with the Mountain View, CA-based financial software company. Financial terms of the deal were not disclosed.

—4s3 Bioscience, a Medford, MA-based maker of therapies for genetic diseases, nabbed $20 million in funding from KLP Enterprises to support development of its antibody technology.

Author: Erin Kutz

Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.