Today’s Xconomy Report: Biogen Idec Meets Goals in Clinical Trial, iRobot Layoffs, $1M Awarded by MassChallenge, and Bay State Venture Capital Earnings

Today’s news: Weston, MA-based Biogen Idec, the largest maker of injectable treatments for multiple sclerosis, met its goals in a second clinical trial for an oral pill to treat the disease. The pill reduced flare-ups by 44 percent when taken twice per day, and by 51 percent if taken three times a day. Bedford, MA-based iRobot announced layoffs last week of 8 percent of its staff, or 55 employees across Massachusetts, North Carolina, and California, despite showing a strong third quarter profit. Boston startup accelerator MassChallenge awarded $1 million to be split across 17 startups, and Bay State companies collectively raised $250 million in venture capital last month. The total funding for the third quarter was $505 million, down by about half from the previous quarter when there was talk of a tech bubble.

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Author: Lilly O'Flaherty

Prior to joining Xconomy, Lilly spent five years in the public programs department of the Isabella Stewart Gardner Museum, providing event marketing and management support for lectures, symposiums, and a series of evening events called Gardner After Hours. During her time at the Gardner Museum she also studied at the University of Massachusetts Boston on a full tuition scholarship from the Boston Globe Foundation, receiving her Bachelor’s degree in English and Art History in Spring 2011. She developed a keen interest in all things media during her tenure as the editor-in-chief of UMass Boston’s student magazine, Lux, where she covered student and faculty research.