Verenium (NASDAQ: [[ticker:VRNM]]), a Cambridge, MA-based biofuel firm, filed a shelf registration statement covering the potential issuance of up to $150 million of stock, debt securities, or warrants. The filing also covers the potential resale of 3 million shares of Verenium common stock by Syngenta (with which Verenium has a strategic alliance) and its affiliates. … Continue reading “Verenium Files $150 Million Shelf Registration”
Author: Rebecca Zacks
Rebecca is Xconomy's co-founder. She was previously the managing editor of Physician's First Watch, a daily e-newsletter from the publishers of New England Journal of Medicine. Before helping launch First Watch, she spent a decade covering innovation for Technology Review, Scientific American, and Discover Magazine's TV show. In 2005-2006 she was a Knight Science Journalism Fellow at MIT. Rebecca holds a bachelor's degree in biology from Brown University and a master's in science journalism from Boston University.
PerkinElmer-ViaCell Deal Done
Waltham, MA-based PerkinElmer (NYSE: [[ticker:PKI]]) announced today that it has completed its acquisition of Cambridge’s ViaCell (NASDAQ: [[ticker:VIAC]]). The $300 million deal was first announced early in October. Shares of PerkinElmer were essentially flat at midday, at $27.05.
Another Flurry of Deals—BG Medicine’s IPO, EnerNOC Trims Offering, Venture Rounds, and More
Looks like maybe we should have waited a day to post yesterday morning’s roundup of recent deals, because the rest of the day brought a flurry of new deals news. —Molecular diagnostics firm BG Medicine of Waltham, MA, set the terms for its IPO at 4.5 million shares priced between $14 and $16. Bob had … Continue reading “Another Flurry of Deals—BG Medicine’s IPO, EnerNOC Trims Offering, Venture Rounds, and More”
Genzyme Arthritis Treament Approval Delayed
Genzyme (NASDAQ: [[ticker:GENZ]]) announced today that approval of its knee osteoarthritis treatment Synvisc-One will be delayed until the second half of next year, or later, because the FDA has requested more data on the treatment. Synvisc-One combines three doses of an already approved treatment, Synvisc, into a single injection. The news marks a second recent … Continue reading “Genzyme Arthritis Treament Approval Delayed”
EqualLogic’s Record-Setting Sale, ExaGrid’s Sizable Third Round, and the Rest of Last Week’s Deals
Dealmaking was a bit slower over the last week—actually eight days—but there’s still plenty to recap. And the first one is a doozy. —Network storage device maker EqualLogic of Nashua, NH, eschewed an IPO in favor of a $1.4 billion sale to Dell Computer (NASDAQ: [[ticker:DELL]]). If completed, the deal with be the largest all-cash … Continue reading “EqualLogic’s Record-Setting Sale, ExaGrid’s Sizable Third Round, and the Rest of Last Week’s Deals”
IRobot Seeks Sanctions Against Robotic FX in Alabama Case; In Other News, the DeLorean Has at Least Two Remaining Fans
Having won a partial injunction against Robotic FX in a Massachusetts court, attorneys for iRobot last week turned their attention to the firm’s separate Alabama lawsuit against its rival. In a motion filed on Wednesday, iRobot asked that Robotic FX be held in contempt and sanctioned for founder Jameel Ahed’s destruction of evidence after the … Continue reading “IRobot Seeks Sanctions Against Robotic FX in Alabama Case; In Other News, the DeLorean Has at Least Two Remaining Fans”
Allurent Raises $7.5 Million in Series B Round
Allurent, a Cambridge, MA-based e-commerce firm, announced today that it has completed a Series B financing round led by Polaris Venture Partners. Mass HighTech puts the value of the deal at $7.5 million.
PerkinElmer Completes ViaCell Tender Offer
Waltham, MA-based PerkinElmer (NYSE: [[ticker:PKI]]) has successfully completed its tender offer for Cambridge’s ViaCell (NASDAQ: [[ticker:VIAC]]), the company announced today. The company purchased more than 90% of ViaCell’s outstanding shares in the transaction, which is part of a $300 million acquisition announced early in October. PerkinElmer expects to complete the merger “promptly.”
Bind Biosciences, My IPO Prediction, and Brain Overload at MassOpps
I just got back from MassOpps—a life sciences PowerPointapalooza put on by the Massachusetts Biotechnology Council—and boy my brain is tired. In conference rooms at the Logan Airport Hilton, more than 40 companies (startups and public firms both) made their pitches to the gathered venture capitalists, investment bankers, potential partners, and hangers-on. Concurrent sessions, so … Continue reading “Bind Biosciences, My IPO Prediction, and Brain Overload at MassOpps”
Setback for Momenta, Setback for Biogenerics?
A drug company is never happy to get a “not approvable” letter from the FDA, and the one received Monday by Cambridge, MA’s Momenta Pharmaceuticals (NASDAQ [[ticker:MNTA]]) and its partner Sandoz was a doozy, coming more than two years after the firms filed for approval of a generic version of Lovenox, which had U.S. sales … Continue reading “Setback for Momenta, Setback for Biogenerics?”
Insulet Prices SPO
Insulet (NASDAQ: PODD) a diabetes-management firm in Bedford, MA, priced its secondary offering of 4.9 million shares at $23.25, according to an SEC filing. The shares were offered by Insulet shareholders, so no proceeds will go to the company.
V.i. Laboratories Closes $8 Million Series B Round
V.i. Laboratories, a Waltham, MA-based software protection firm, announced it has raised $8 million in Series B funding. The round was led by Ascent Venture Partners and Core Capital Partners.
Momenta Tumbles on FDA News
Shares of Cambridge, MA-based Momenta Pharmaceuticals (NASDAQ: [[ticker:MNTA]]) are down more more than 50 percent from yesterday’s close of $13.38 on the news that the company’s lead drug candidate—a generic version of the Sanofi-Aventis blood-thinner Lovenox—has been deemed “not approvable” by the FDA. Momenta is developing the drug in partnership with the Sandoz division of … Continue reading “Momenta Tumbles on FDA News”
Boston Scientific Gets $750 Millon for Surgery Businesses
Boston Scientific (NYSE: [[ticker:BSX]]) announced it has sold its cardiac surgery and vascular surgery businesses to the Getinge Group for $750 million in cash. The Natick, MA-based firm first said it would sell the divisions back in August.
Deals, Deals, and More Deals
Regular readers may have noticed that from time to time we like to give you a roundup of the last week’s worth of biz/tech news (and from time to time—like when we’re too busy with this week’s news—we skip it). This time a couple of things are different, though. First, I’m going to focus only … Continue reading “Deals, Deals, and More Deals”
Mass Biotech Council COO Resigns
With an ethics investigation of its recently named president still pending, the Massachusetts Biotechnology Council lost its second in command, chief operating officer Mark Robinson. The COO resigned to work for the American Academy of Arts and Sciences, according to the Boston Business Journal.
NameMedia Plans $172.5 Million IPO
NameMedia of Waltham, MA, filed for an IPO worth up to $172.5 million. The firm, which plans to trade on the NASDAQ Global Market under the symbol “NAME,” bills itself as “a leader in the acquisition, development and trading of digital real estate.” It operates both a targeted online media business and an online marketplace … Continue reading “NameMedia Plans $172.5 Million IPO”
EMC to Invest $1 Billion in China
Hopkinton, MA’s EMC (NYSE: [[ticker:EMC]]) announced today that it is doubling its planned investments in China, to a total of some $1 billion over the next five years. The storage giant said the funds will go toward “expanding [its] R&D operations, growing its partner community, strengthening its sales and service capabilities and more effectively serving … Continue reading “EMC to Invest $1 Billion in China”
SoundBite Prices IPO Well Below Expectations in Wake of Patent Claims
Just a couple weeks after an eleventh-hour patent-infringement claim delayed its planned IPO, SoundBite Communications (NASDAQ: [[ticker:SDBT]]) has priced the deal well below initial projections. Expectations of the offering had been high, with the Bedford, MA, automated voice messaging firm projecting a price of $12-14 for 6 million shares and observers looking for the deal … Continue reading “SoundBite Prices IPO Well Below Expectations in Wake of Patent Claims”
Nomir to Microbes: We’re Out to Get You
In a town like Boston, where so many new companies are churned out, assembly-line style, by the same universities, serial entrepreneurs, consulting firms, and venture investors, it’s refreshing to find a startup that hews more closely to the classic (if largely mythical) formula of lone inventor plus fortuitous discovery plus cash from some wealthy individuals … Continue reading “Nomir to Microbes: We’re Out to Get You”
Genzyme CEO Nets $9.3 Million From Options
In the past few days, Genzyme CEO Henri Termeer exercised options worth about $15.4 million on the open market, netting some $9.3 million from the series of transactions, according to a form filed with the SEC today. From the filing, it looks like that leaves Termeer owning some 631,000 shares directly, and no more options. … Continue reading “Genzyme CEO Nets $9.3 Million From Options”
Another Big Venture Round for Acceleron Pharma
Acceleron Pharma’s $25 million Series A financing round was the biggest Boston-area venture deal of 2004. The Cambridge, MA-based firm’s $30 million Series B was the seventh largest New England biotech/pharma deal of 2006. No telling yet exactly how the firm’s Series C, announced today, will rank, but it’s another big one: $31 million in … Continue reading “Another Big Venture Round for Acceleron Pharma”
EnerNOC Plans Secondary Offering
EnerNOC, an energy demand aggregator, has filed for a secondary offering of 4 million shares—800,000 of them to be sold by the Boston-based firm (NASDAQ: ENOC), and 3.2 million from certain shareholders. EnerNOC’s $97.5 million IPO five months ago was one of New England’s cleantech success stories; shares priced at $27, well above the expected … Continue reading “EnerNOC Plans Secondary Offering”
UMass Stem Cell Bank Funded
The Massachusetts Life Sciences Center, a quasi-public agency created last year, yesterday approved some $8.2 million in funding for a stem cell bank and registry to be opened at the the University of Massachusetts Medical School. The agency also approved $12 in funding for research grants. The move is part of an effort to kick-start … Continue reading “UMass Stem Cell Bank Funded”
$80 Million Nano/Bio Center for UMass Lowell
UMass Lowell announced today that it will build an $80 million center for nano- and bio-manufacturing research, among other projects. The Emerging Technologies and Innovation Center will be built with a combination of state, federal and university funding.
PerkinElmer-ViaCell Deal Clears Antitrust Hurdle
Yesterday marked the expiration of the antitrust waiting period for Waltham, MA-based PerkinElmer’s (NYSE: [[ticker:PKI]]) planned acquisition of Cambridge’s ViaCell (NASDAQ: [[ticker:VIAC]]). The $300 million deal, announced about three weeks ago, boosted ViaCell’s shares more than 50 percent, and should close later this quarter.
ISC Closes $11 Million Series B Financing Round
Waltham, MA’s Interactive Supercomputing (ISC) announced yesterday that it has closed a Series B round worth $11 million and led by Ascent Venture Partners. Fletcher Spaght Ventures, Flagship Ventures, Rock Maple Ventures, and CommonAngels joined the deal, which brings the software firm’s total raised to $18 million.
$40 Million for Paratek Pharmaceuticals
Paratek Pharmaceuticals of Boston announced it has closed the first tranche of a $40 million financing round. (It’s a Series H round, according to peHUB.) The company says it will use the funds in part to further the development of antibiotics to treat infections caused by methicillin-resistant Staphylococcus aureus (MRSA) and other drug-resistant bacteria.
Robotic FX Contract Set Aside, IRobot Says
Looks like iRobot has caught a break in its effort to stop Robotic FX from selling its Negotiator robots, as the Burlington, MA-based company announced moments ago that the Army has set aside a $279.9 million contract awarded to its rival in September. IRobot contends in two ongoing lawsuits against Robotic FX that the Negotiator … Continue reading “Robotic FX Contract Set Aside, IRobot Says”
Yet Another Aquisition for Inverness
Inverness Medical Innovations (AMEX: IMA), a diagnostics maker in Waltham, MA, announced that it it will acquire Reno, NV’s Alere Medical, for $302 million. By my count that’s the ninth acquisition agreement Inverness has forged this year.
Allurent Inks Deal With GSI
Cambridge, MA-based e-commerce firm Allurent announced it has forged a stragetic partnership with King of Prussia, PA’s GSI Commerce. Under the agreement, GSI will integrate Allurent’s tools into its e-commerce platform and will also take an equity stake in the Cambridge startup. Financial terms were not disclosed.
HistoRx Raises $6 Million
New Haven, CT’s HistoRx, which is developing tissue-based diagnostics, announced it has closed a $6 million Series B funding round. The deal was led by Brook Venture Partners, and joined by Navigator Technology Ventures, The Roche Venture Fund, Commons Capital, and Maven Capital.
Tolerx and GSK Ink Deal Worth Up to $760 Million
In perhaps the biggest vindication to date of a field that torpedoed a couple of Boston-area firms years ago, Cambridge, MA’s Tolerx announced today that is has signed an agreement with GlaxoSmithKline (NYSE: GSK) that could be worth up to $760 million. Tolerx is developing treatments for autoimmune and inflammatory diseases, including type 1 diabetes, … Continue reading “Tolerx and GSK Ink Deal Worth Up to $760 Million”
Archemix Sets IPO Terms
In a new filing with the SEC, Cambridge, MA’s Archemix set terms for its IPO of 4.5 million shares at $12 to $14 per share. The firm, which plans to trade on the NASDAQ Global Market under the symbol “ARCH,” is developing “aptamers,” or short strands of DNA or RNA, as treatments for a variety … Continue reading “Archemix Sets IPO Terms”
ATG Reports Q3 Revenue Growth
Art Technology Group (NASDAQ: ARTG), a Cambridge, MA-based e-commerce platform company, reported its Q3 financials. Revenue for the quarter was $35.9 million, a 65 percent increase over the same period of last year.
Local Cleantech Organizations Merge
As Wade predicted would happen, the Clean Energy Council and the New England Energy Innovation Collaborative have merged. The newly formed New England Clean Energy Council will strive to “accelerate New England’s clean energy economy to global leadership by building an active community of stakeholders and a world-class cluster of clean energy companies,” according to … Continue reading “Local Cleantech Organizations Merge”
Bit9 Closes $10 Million Venture Round
Bit9, a security software firm in Cambridge, MA, whose systems let users control applications and data in corporate networks, announced it has closed a third venture financing round worth $10 million. The financing brings the firm’s total raised to date to $25.8 million. The round was led by .406 Ventures, and joined by Kleiner, Perkins … Continue reading “Bit9 Closes $10 Million Venture Round”
Genzyme’s Next-Gen Dialysis Drug Approved
Genzyme (NASDAQ: GENZ) announced that it has gained FDA approval for Renvela (sevelamer carbonate), a drug that helps keep blood levels of phosphorus from getting too high in patients on dialysis. The new drug is a next-generation version of a similar Genzyme drug approved in 1998.
All Sorts of Acquisitions, An Approval for Millennium, Venture Deals, and More
There was a lot of acquisition activity last week (not even counting the Biogen Idec excitement). Here’s more on that, along with the rest of the week’s news. —Lexington, MA-based Cubist Pharmaceuticals announced it will pay $4.7 million, plus another $1 million in research and operating costs, for an exclusive option to buy Seattle’s Illumigen … Continue reading “All Sorts of Acquisitions, An Approval for Millennium, Venture Deals, and More”
Insulet Files for Secondary Offering
Diabetes-management firm Insulet (NASDAQ: PODD) of Bedford, MA, filed with the SEC for a secondary public offering of some 4.8 million shares. Insulet went public in May with an offering of 7.7 million shares at $15 per share. The stock closed Friday at $23.77.
SoundBite IPO Up in the Air After “Mugging” by Competitor
There’s no new word today on the fate of SoundBite Communications’ IPO. The Bedford, MA-based voice messaging firm was expected to price the deal Wednesday. Instead, according to an SEC filing, the company received a letter written on behalf of Universal Recovery Systems (URS) claiming that SoundBite’s technology may violate some of URS’s issued patents … Continue reading “SoundBite IPO Up in the Air After “Mugging” by Competitor”
VisEn Medical and Genomas Close Venture Rounds
Woburn, MA-based molecular imaging firm VisEn Medical took in some $7.5 million in a Series B round, and Hartford, CT’s Genomas closed a Series C financing worth $2.5 million, peHUB’s Dan Primack reports.
Isolation Technologies Sold for Almost $30 Million
Northbrook, IL-based Idex (NYSE: IEX) announced it’s acquiring Isolation Technologies of Hopedale, MA, for just under $30 million. Isolation develops hardware and accessories for analytical chemistry instruments used for such applications as drug discovery and quality control.
Starbucks Taps Akamai to Support “Now Playing” Service; Our Feelings Still Hurt
I can’t decide if I think this is a further snub, or a subtle attempt to make amends. Last month, when Apple and Starbucks unveiled their “Now Playing” service—which lets iPhone- and laptop-wielding Starbucks customers wirelessly purchase whatever song happens to be playing in the coffee shop via iTunes—Wade vented his venti frustration over the … Continue reading “Starbucks Taps Akamai to Support “Now Playing” Service; Our Feelings Still Hurt”
Nuance to Buy Vocada
Nuance Communications (NASDAQ: NUAN), a Burlington, MA, speech and imaging firm, announced it had reached an agreement to acquire Dallas, TX’s Vocada, which produces technology for the automated distribution of medical test results. Terms of the deal were not disclosed.
Boston Scientific to Cut 2,300 Jobs
In a much-anticipated move, Natick, MA’s Boston Scientific Corporation (NYSE: BSX) announced after the market closed today that it will cut some 2,300 jobs. The move, which will begin this month and should be largely completed by the end of next year, is part of the company’s effort to cut its operating expenses by about … Continue reading “Boston Scientific to Cut 2,300 Jobs”
U.S. to Judge: Don’t Stop Robotic FX
The U.S. Attorney’s Office is not backing down in its attempts to move a key part of iRobot’s battle against Robotic FX out of U.S. District Court in Boston—reiterating in a new document filed last night that the court lacks the jurisdiction to grant iRobot’s desired preliminary injunction against its rival. And so the drama … Continue reading “U.S. to Judge: Don’t Stop Robotic FX”
Ikonisys Closes $30 Million Venture Round
New Haven, CT, diagnostics developer Ikonisys raised $30 million in Series E financing.
Army Asks for $8.8 Million Worth of IRobot’s PackBots; Order Part of Existing Contract
Burlington, MA’s iRobot (NASDAQ: IRBT) announced this morning that it had received a U.S. Army order worth $8.8 million to deliver 40 of its PackBot robots, plus equipment and spare parts. The order was made on behalf of the Robotic Systems Joint Project Office at Redstone Arsenal—the same office that spearheaded the recent X-Bot competition … Continue reading “Army Asks for $8.8 Million Worth of IRobot’s PackBots; Order Part of Existing Contract”
Cubist Takes Option to Acquire Illumigen
Lexington, MA-based Cubist Pharmaceuticals announced it will pay $4.7 million, plus another $1 million in research and operating costs, for an exclusive option to buy Seattle’s Illumigen Biosciences. Illumigen’s lead compound is a protein-based treatment for hepatitis C. If Cubist exercises its option it will pay $9 million upfront, plus development and regulatory milestone payments … Continue reading “Cubist Takes Option to Acquire Illumigen”