In an ideal world, your digital photos would be shared and archived instantly, behind the scenes, as soon as you snapped them. They’d be wirelessly transmitted to your friends’ phones or e-mail addresses, a photo sharing site like Flickr or Snapfish, your social-networking accounts at Facebook or MySpace, a media storage site like Box.net, your … Continue reading “PicWing Out to Simplify Photo Sharing on Digital Frames”
Category: Boston
Biogen Idec Testing Regenerative Medicine Drug to Reverse the Path of Multiple Sclerosis
Biogen Idec has made a lot of its money on Avonex and Tysabri, drugs that slow down the rate of flare-ups for people with multiple sclerosis. Now the Cambridge, MA-based biotech company (NASDAQ: [[ticker:BIIB]]) is pursuing a loftier goal. It is working on the first experimental drug that may reverse the symptoms of the neurodegenerative … Continue reading “Biogen Idec Testing Regenerative Medicine Drug to Reverse the Path of Multiple Sclerosis”
Proteostasis Therapeutics Procures $45M, Stealthy Startup Gets Serious About Shampoo, MA Life Sciences Center Chief Shares Her Plans, & More Life Sciences News
There were some exciting venture deals this past week, and some great in-depth reporting about Boston-area life sciences firms on the part of Luke and Ryan. In case you missed any of it…. —Ryan did some sleuthing on a stealthy startup down the street from Xconomy’s headquarters in Kendall Square, MA, and uncovered (at least … Continue reading “Proteostasis Therapeutics Procures $45M, Stealthy Startup Gets Serious About Shampoo, MA Life Sciences Center Chief Shares Her Plans, & More Life Sciences News”
Zapoint Lands Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2ef485d1-426c-4d31-b9c7-0909486f6946&Preview=1 Date 8/27/2008 Company Name Zapoint Mailing Address 7 Harvard Square Brookline, MA 02445 Company Description Zapoint, Inc. is one of the fastest growing talent management software vendors in the market. With Zapoint’s leading Talent Management Platform, users can quantify talent profiles (resumes) in order to rank skills and achievement. The platform … Continue reading “Zapoint Lands Series A Financing Round”
Expressor Software Corporation Lands $10,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7024c761-85e3-4c81-be2e-51deab7b6d4b&Preview=1 Date 8/27/2008 Company Name Expressor Software Corporation Mailing Address 1 New England Executive Park Burlington, MA 01803 Company Description The company provides multi-platform, parallel, processing, data management software. Website http://www.expressor-software.com Transaction Type Venture Equity Transaction Amount $10,000,000 Transaction Round Series B Proceeds Purposes The funding will enable expressor software to further … Continue reading “Expressor Software Corporation Lands $10,000,000 Series B Funding”
Software Radio Firm Vanu Collects $32 Million Second Round
Vanu, the Cambridge, MA, company whose “all-software radios” allow wireless operators to broadcast using multiple standards such as GSM and CDMA, has raised $32 million a stealthy Series B venture round, Dan Primack of Private Equity Hub is reporting today. Waltham, MA-based Charles River Ventures, which led a $9 million Series A round for Vanu … Continue reading “Software Radio Firm Vanu Collects $32 Million Second Round”
Indevus Pharma Raises $105M in Debt Sale
Indevus Pharmaceuticals (NASDAQ:[[ticker:INDEV]]), a Lexington, MA, specialty pharmaceutical firm, announced it has raised $105 million in a private placement of non-recourse notes. The company said the sale of the notes, which are secured by royalties from its overactive bladder drug Sanctura, is intended to retire existing debt due next year and fund operations into calendar … Continue reading “Indevus Pharma Raises $105M in Debt Sale”
Curis Begins Phase 1 Trial of Anti-Tumor Drug
Drug developer Curis (NASDAQ:[[ticker:CRIS]]), of Cambridge, MA, reported today that it has begun a Phase 1 clinical trial of an anti-cancer small molecule, dubbed CUDC-101. The experimental drug is designed to inhibit tumor cell growth and survival, and 18 to 40 patients are expected to enroll in the clinical trial.
The Ins and Outs of Making Money from Online Video
An evening seminar sponsored by MITX, with moderator Will Richmond, president of VideoNuze, and panelist Waikit Lau, CEO of ScanScout. From the event page: “Ok, so your online video site is up and running, or maybe you’re still planning its launch. Your attention quickly turns to the most urgent question of all: how can you … Continue reading “The Ins and Outs of Making Money from Online Video”
The 2008 Olympics: The Defining Moment for Video 2.0, or Opportunity Lost?
[Editor’s note: This Xconomist Forum post is a revised, updated version of an essay contributor Matt Kaplan wrote for the PermissionTV blog on August 9, 2008.] Every four years I look forward to the summer Olympic Games. It’s not so much that I’ll sit down and watch the coverage non-stop, but there are a few … Continue reading “The 2008 Olympics: The Defining Moment for Video 2.0, or Opportunity Lost?”
JumpTap Raises Another $26 Million for Mobile Search and Advertising
Investors still see the mobile search and advertising market as one of the hottest tickets in the digital economy. Since its founding in 2004, mobile advertising startup JumpTap, neighbors of Xconomy just down First Street in Cambridge MA, has raised about $47 million from the likes of General Catalyst Partners, Summerhill Venture Partners, Redpoint Ventures, … Continue reading “JumpTap Raises Another $26 Million for Mobile Search and Advertising”
FDA Doesn’t Appear Overly Alarmed by Recent Cases of Brain Disease Associated With Tysabri; Working with Biogen Idec and Elan to Update Labeling
Biogen Idec and Elan got clobbered by investors a few weeks ago when they reported that two new patients developed PML, the often-fatal brain infection, after taking Tysabri. But in an announcement about the cases on its website, the FDA doesn’t seem overly alarmed about the risk associated with drug for multiple sclerosis and Crohn’s … Continue reading “FDA Doesn’t Appear Overly Alarmed by Recent Cases of Brain Disease Associated With Tysabri; Working with Biogen Idec and Elan to Update Labeling”
Xconomy Jobs Board Currently Featuring Cloud Computing Positions and More
Publisher’s note: There’s been a flurry of activity on the Xconomy Boston board recently, so I wanted to remind our readers of this great resource for connecting job-seekers in all areas of technology and life sciences with New England’s innovation employers. Here’s a sampling of current listings, many of which come from EMC’s newly formed … Continue reading “Xconomy Jobs Board Currently Featuring Cloud Computing Positions and More”
Helicos Names CTO to Boost R&D
Helicos BioSciences (NASDAQ:[[ticker:HLCS]]), a Cambridge, MA, developer of DNA sequencing systems, announced today it promoted its senior vice president of product development, Bill Efcavitch, to chief technology officer. Helicos said the promotion of Efcavitch and two other appointments in senior research positions are intended to accelerate research and development at the company.
Polaris and MIT’s Langer Meet L’Oreal. Don’t Believe It? There’s “Living Proof”
Move over Mary Kay. Some of the best and brightest brains from MIT and other research powerhouses are applying their scientific prowess to the multibillion-dollar cosmetics industry—and they’ve recruited a veteran of beauty-products giant L’Oreal to pull it off. It’s all happening in the heart of Kendall Square, on Rogers Street (home also to Xconomy’s … Continue reading “Polaris and MIT’s Langer Meet L’Oreal. Don’t Believe It? There’s “Living Proof””
Mall Networks Gets $7 Million to Help Clients Compete for Loyalty
Why do airlines give away frequent flyer miles? For the same reason that credit card issuers offer cash-back programs: because hanging on to existing customers by giving them rewards is generally cheaper than recruiting new ones. That basic truth has made frequent-flyer programs and other loyalty programs into a huge business: one in three Americans … Continue reading “Mall Networks Gets $7 Million to Help Clients Compete for Loyalty”
JumpTap Inc. Obtains $26,000,000 Series D Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f52609b6-96b5-4131-b0c4-023a2add7ceb&Preview=1 Date 8/26/2008 Company Name JumpTap Inc. Mailing Address 245 First Street Cambridge, MA 02142 Company Description JumpTap, Inc. provides wireless carriers with an end-to-end, carrier-branded mobile search solution that drives third-party revenue for mobile operators while providing a quick, easy and fun mobile search experience for subscribers. Website http://www.jumptap.com Transaction Type … Continue reading “JumpTap Inc. Obtains $26,000,000 Series D Funding Round”
Mall Networks Receives $7,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f1a900b8-02b4-46b5-8576-cb4c2c5ad07d&Preview=1 Date 8/26/2008 Company Name Mall Networks Mailing Address One Militia Drive Lesington, MA 02421 Company Description Mall Networks uses the power of affiliate networks to build shopping portals tailor-made for affinity organizations such as school districts, non-profits, sports teams, and consumer associations. With more than 350 of the most trusted online … Continue reading “Mall Networks Receives $7,000,000 Series B Round”
Quanterix Collects $15 Million in Series A Venture Round
Quanterix, a privately held developer of medical diagnostics technology in Cambridge, MA, has raised $15 million in a Series A financing, according to VentureWire. Arch Venture Partners, Bain Capital, and Flagship Ventures participated in the financing. Tufts University researcher David Walt, a founder of San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]) is a co-founder of Quanterix. The … Continue reading “Quanterix Collects $15 Million in Series A Venture Round”
Genzyme, Medicines for Malaria Venture Form Partnership to Develop New Treatments
Cambridge, MA-based Genzyme (NASDAQ: [[ticker:GENZ]]) and Medicines for Malaria Venture, a nonprofit organization, said today they have formed a malaria drug collaboration with India-based Advinus Therapeutics. The organizations will work to develop new treatments for pregnant women and infants who are most threatened by the infection. The partners, which includes the Broad Institute of MIT … Continue reading “Genzyme, Medicines for Malaria Venture Form Partnership to Develop New Treatments”
ABRY Buys Q9 Networks
Toronto, Ontario-based Q9 Networks, a data center operator, said today that it has agreed to be acquired by CDC Acquisition Corp., an affiliate of ABRY Partners, a Boston private equity firm focused on media and communications investments. The purchase price of approximately $361 million in Canadian dollars, or $17.05 per share, represents a 38 percent … Continue reading “ABRY Buys Q9 Networks”
Announcing Xconomy’s Next Forum: How to Build A Life Sciences Company
The Boston area is arguably the world’s greatest center of life sciences, fostering both outstanding basic research and a thriving community of companies, big and small. Two of biotech’s pioneering firms, Biogen Idec and Genzyme, were founded here—Biogen is celebrating its 30th anniversary this year. A number of the planet’s largest pharmaceutical makers, including Novartis, … Continue reading “Announcing Xconomy’s Next Forum: How to Build A Life Sciences Company”
ProteoStasis Takes Off From $45 Launch Pad, BitWave Receives $10M Transmission, GameLogic Reckons $8M Will Do, & More Deals News
There was a decent amount of venture activity in the Boston area this past week, as you can see below—and I’m not even including the smaller deals. —Cambridge, MA-based HealthCare Ventures, Fidelity Biosciences, the VC branches of Genzyme and Novartis, and others put a whopping $45 million into a first round of financing for ProteoStasis … Continue reading “ProteoStasis Takes Off From $45 Launch Pad, BitWave Receives $10M Transmission, GameLogic Reckons $8M Will Do, & More Deals News”
Venture-Funded Consultants at Security Innovation Show Companies How to Make Software Unbreakable
Outside of a few giants like IBM, you’d be hard pressed to find many technology companies that offer both consulting services and boxed software products. Harder still would be finding a venture firm daring enough to fund a startup that wants to combine these two seemingly disparate lines. But software security startup Security Innovation, which … Continue reading “Venture-Funded Consultants at Security Innovation Show Companies How to Make Software Unbreakable”
Proteostasis Therapeutics Inc. Secures $45,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cae01090-b167-4989-9cc8-5ba24f16e7c3&Preview=1 Date 8/25/2008 Company Name Proteostasis Therapeutics Inc. Mailing Address Undisclosed Cambridge, MA 02138 Company Description Proteostasis Therapeutics is discovering and developing novel small molecule therapeutics designed to control the body’s Proteostasis Network, which maintains the body’s natural protein homeostasis to protect us from numerous diseases. We call these new therapies “Proteostasis … Continue reading “Proteostasis Therapeutics Inc. Secures $45,000,000 Series A Financing”
Quanterix Corporation Secures $15,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1edf1edd-0780-459e-ac31-b412c2d7399a&Preview=1 Date 8/25/2008 Company Name Quanterix Corporation Mailing Address One Kendall Square Building 1400W Cambridge, MA 02139 Company Description At Quanterix, our principal focus is to improve human health by providing physicians, drug developers, and researchers with the ability to detect and analyze important biomolecules within complex biological samples at the level … Continue reading “Quanterix Corporation Secures $15,000,000 Series A Financing”
Amazon’s Elastic Block Store—A Glimpse of Cloud Computing’s Future
Earlier this week, Amazon announced an important new feature in its cloud computing Web service offerings that should further cause those of us who work in technology to consider the way in which we build software systems. It’s another exciting little glimpse of the future, one that should give pause to anybody still thinking of … Continue reading “Amazon’s Elastic Block Store—A Glimpse of Cloud Computing’s Future”
Buzzwire to Cover Dems in Denver
Boston- and Denver-based Buzzwire, which provides streaming video and audio content viewable on many Verizon, T-Mobile, Sprint, and AT&T mobile phones, says it’s launching a “DNC 2008” channel on August 25, to coincide with the opening of the Democratic National Convention in Denver. The channel will feature reports from Barely Political‘s Obama Girl and convention … Continue reading “Buzzwire to Cover Dems in Denver”
Build Guild
From the Build Guild website: “Created by two Salem web geeks, Marc Amos & Angelo Simeoni, the Build Guild is a monthly event (occurs every 2nd Tuesday of the month) where folks in the web industry—designers, coders, project managers, hobbyists, etc.—can get together to talk web, debate industry topics, share ideas, make professional connections, land … Continue reading “Build Guild”
Joseph Finn on the ABCs of Biotech Liquidation: Beware of Collusion!
Companies in innovation sectors often have multiple lives. I followed, for example, the rebirth of Franklin, MA, biotech firm Sontra Medical, which laid off its entire staff to cut expenses in late 2006, and was back in business in less than a year with new investors and a new name, Echo Therapeutics. But when the … Continue reading “Joseph Finn on the ABCs of Biotech Liquidation: Beware of Collusion!”
Battery Powers Social Advertising Network
According to regulatory filings cited today by PE Week Wire, Waltham, MA-based Battery Ventures is the lead investor in a $1 million Series A funding round for Adisn, a Long Beach, CA-based Web advertising network. The company says it mines blogs and other social media sites for information about relationships between topics and applies that … Continue reading “Battery Powers Social Advertising Network”
Greylock Funds Refocus Imaging
Waltham, MA- and San Mateo, CA-based Greylock Partners is the leader in a $250,000 Series A financing round for Refocus Imaging, according to regulatory filings cited today by PE Week Wire. The Mountain View, CA, startup is pursuing “computational photography” techniques developed by Stanford researcher Ren Ng that, among other things, allow photographers to adjust … Continue reading “Greylock Funds Refocus Imaging”
Pogue on the iPhone 3G: A Product Manual You Won’t Be Able to Put Down
The Apple iPhone is easily the most powerful, multitalented phone ever marketed. As I and many others have pointed out, it’s really a handheld multimedia computer, with camera and (in the iPhone 3G) GPS functions to boot. So it’s a little baffling that the only set of instructions you get when you buy an iPhone … Continue reading “Pogue on the iPhone 3G: A Product Manual You Won’t Be Able to Put Down”
Q&A With Massachusetts’ Billion-Dollar Woman: Susan Windham-Bannister. Part 2.
Yesterday we ran the first half of an e-mail interview with Susan Windham-Bannister, the new president and CEO of the Massachusetts Life Sciences Center, the agency charged with administering Gov. Deval Patrick’s 10-year, $1 billion initiative to promote the industry. Here’s the link if you missed it. The rest of the interview with Dr. Sue, … Continue reading “Q&A With Massachusetts’ Billion-Dollar Woman: Susan Windham-Bannister. Part 2.”
Resolvyx Pharmaceuticals Garners $4,000,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b8f92d31-9737-47c9-a890-08e2fe2c5cae&Preview=1 Date 8/22/2008 Company Name Resolvyx Pharmaceuticals Mailing Address 6A Preston Court Bedford, MA 01730 Company Description Resolvyx is a biopharmaceutical company committed to the discovery and development of therapies based on the novel concept of inflammation resolution through activation of the body’s own off-switch mechanisms. Website http://www.resolvyx.com/ Transaction Type Venture Equity … Continue reading “Resolvyx Pharmaceuticals Garners $4,000,000 Series B Financing”
Critical Biologics Corporation Obtains $1,500,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d798afee-7d4f-4ac5-a36e-5c35ee1203f0&Preview=1 Date 8/22/2008 Company Name Critical Biologics Corporation Mailing Address 124 Mt. Auburn St. Cambridge, MA 02138 Company Description In particular, CBC is focused on a theranostic approach to treat critical care patients with low plasma gelsolin levels at high risk of life-threatening complications. Website http://www.criticalbiologics.com Transaction Type Venture Equity Transaction Amount … Continue reading “Critical Biologics Corporation Obtains $1,500,000 Series A Funding”
Forerun, Inc. Secures $1,350,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c82344ad-68df-4bf1-a243-5deafd15d965&Preview=1 Date 8/22/2008 Company Name Forerun, Inc. Mailing Address 1601 Trapelo Road Waltham, MA 02451 Company Description Forerun Inc. is a privately-held, technology company specializing in Emergency Department Information Systems (EDIS). Forerun’s mission is to help the Emergency Department create such high quality of patient care that together we set new standards … Continue reading “Forerun, Inc. Secures $1,350,000 Series B Funding”
Living Proof Inc. Obtains $7,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d47683d5-290b-4d29-8bb0-cc77094749b6&Preview=1 Date 8/22/2008 Company Name Living Proof Inc. Mailing Address 63 Rogers Street Cambridge, ME 02142 Company Description The company is a biomaterials company. Website Undisclosed Transaction Type Venture Equity Transaction Amount $7,000,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Polaris Venture Partners
ACT Licences Pluropotent Cell IP
Advanced Cell Technology, a California-based developer of cellular treatments with R&D labs in Worcester, MA, has licensed technology from Embryome Sciences related to the reprogramming of human cells such as skin cells into embryonic-like cells that can differentiate into a variety of cell types, Embryome reports. The technology from Alameda, CA-based Embryome is intended to … Continue reading “ACT Licences Pluropotent Cell IP”
Y Combinator’s “Open Source” Legal Documents: Up, Down, Up Again—Thank the Lawyers
It’s not easy posting legal documents: the lawyers get nervous. At least, that’s what happened to Y Combinator. Last Wednesday, August 13, the unique venture firm/incubator made a batch of boilerplate legal documents developed for its own startups freely available on its website—“open sourcing” (their term, not mine) them in hopes they would make closing … Continue reading “Y Combinator’s “Open Source” Legal Documents: Up, Down, Up Again—Thank the Lawyers”
Rhode Island Backs Mobile Website Builder MoFuse
With the number of Web-capable mobile phones sold every year far exceeding sales of desktop and laptop computers, more and more online publishers are rushing to create versions of their sites that look good on the small screens of mobile devices. At Providence, RI-based MoFuse, that’s the specialty of the house: the company builds streamlined … Continue reading “Rhode Island Backs Mobile Website Builder MoFuse”
TripAdvisor Takes FlipKey Majority Stake
Newton, MA-based travel media network TripAdvisor said yesterday that it has acquired a majority stake in FlipKey, a Boston-based consumer review site for rental vacation homes. FlipKey was launched in March by TJ Mahony, Carl Query and Jeremiah Gall; Mahony and Query previously founded Boston-based web analytics and marketing firm Compete.com, which was purchased by … Continue reading “TripAdvisor Takes FlipKey Majority Stake”
Coskata Refutes Energy Analyst’s Critique, Says It’s On Track to Make Ethanol for Under $1 Per Gallon
The idea that a strain of bacteria discovered at the bottom of a lagoon on the campus of Oklahoma State University could hold an answer to U.S. dependence on foreign oil sounds improbable to many. It certainly does to Robert Rapier. The chemical engineer at Arnhem, Netherlands-based Accsys Technologies published a blog post last weekend … Continue reading “Coskata Refutes Energy Analyst’s Critique, Says It’s On Track to Make Ethanol for Under $1 Per Gallon”
Q&A With Massachusetts’ Billion-Dollar Woman: Susan Windham-Bannister. Part 1.
Susan Windham-Bannister is pretty long as names go, so the staff simply calls her Dr. Sue. The moniker is short but her task is big. She’s the newly-hired president and CEO of the Massachusetts Life Sciences Center, the agency charged with administering Gov. Deval Patrick’s 10-year, $1 billion initiative to promote the industry in the … Continue reading “Q&A With Massachusetts’ Billion-Dollar Woman: Susan Windham-Bannister. Part 1.”
Terrafugia On Track for First Flight This Year
The idea of a drivable vehicle that also flies has a firm grip on the public imagination. Woburn, MA-based Terrafugia, the subject of two highly popular Xconomy stories back in May (here and here), showed its prototype “roadable aircraft,” the Transition, to big crowds at the Experimental Aircraft Association’s AirVenture show in Oshkosh, WI, from … Continue reading “Terrafugia On Track for First Flight This Year”
MoFuse Obtains New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0dcfb2be-146b-4dd5-8c97-89f54428cf5a&Preview=1 Date 8/21/2008 Company Name MoFuse Mailing Address 566 Smith St. Providence, RI 02908 Company Description MoFuse is short for Mobile Fusion. MoFuse was founded in August of 2007 and released it’s first private beta in late September of 2007. MoFuse beta opened up to the public on November 1st, 2007. MoFuse … Continue reading “MoFuse Obtains New Funding Round”
Media Lab Director to My Rescue…Twice!
I might just have figured out the worst corner in Kendall Square and the best company to have there…It’s a beautiful day here, so I was taking a leisurely after-lunch stroll when I spotted MIT Media Lab director and Xconomist Frank Moss sauntering equally leisurely on the other side of Binney Street at the corner … Continue reading “Media Lab Director to My Rescue…Twice!”
Tennis, Anyone?
The 2nd Annual VCs vs. Entrepreneurs Davis Cup Challenge will be played on the grass at Longwood. Here’s your chance to help Xconomy beat the VC’s! We’re in charge of assembling a team of tech-entrepreneur tennis players for the tournament — if you want to join, write to us at [email protected]. For more information about … Continue reading “Tennis, Anyone?”
MREC Ocean Energy for New England
Like any self-respecting ocean related conference, The Marine Renewable Energy Consortium (MREC) Ocean Energy for New England Conference concludes with a clam bake. Before that, the conference includes keynote speaker Congressman William Delahunt, and panelists from industry, government, technology development, and public policy. More information on the MREC web site.
Microsoft, Novell Continue Unlikely Windows-Linux Partnership
In November 2006, Redmond, WA-based Microsoft and Waltham, MA-based Novell surprised the software world by announcing that Microsoft would market Novell’s version of the Linux operating system to its own customers, and that the two companies would set up an “Interoperability Lab” in Cambridge, MA. Nearly two years later, the partnership is still in place, … Continue reading “Microsoft, Novell Continue Unlikely Windows-Linux Partnership”