Thursday, August 27th, 2009
The Wall Street Journal’s Venture Capital Dispatch talks to Flybridge’s Michael Greeley about the growing, stimulus-fueled health care IT sector:
New efforts to overhaul the health care system is creating opportunity for a new generation of health care-IT hybrids. The federal stimulus law, which allocates $19 billion to health care-IT, combined with Congress’s efforts to provide health insurance to the uninsured, is enticing entrepreneurs and investors alike. “I have seen a marked increase in deal flow to capture the $19 billion in stimulus spending,” said Michael Greeley, general partner of Flybridge Capital Partners.
MHT talked to Greeley about the stimulus, and spotlighted New England health care IT companies in our Inside Stimulus and Recovery section in May.
Tags: Flybridge, health care IT, Michael Greeley, stimulus
Posted in Financial Services, IT, Internet, Legislation, Life Sciences, Massachusetts, Public Policy, Recovery, Software | No Comments »
Tuesday, July 21st, 2009
New England Tech Stock Index
Boston Scientific’s way up, VC deals are way down, and Epix is down and out in today’s NewsFlash roundup. Also, News editor Rodney Brown drops by Draper Lab’s Apollo 11 anniversary party.
• Boston Scientific profits up 60%
The Natick-based manufacturer of medical devices had revenue of $2.07 billion in the second quarter of this year, up slightly from $2.02 billion in the second quarter of 2008. Net income increased to $158 million from $98 million a year earlier.
• Epix to liquidate assets
The Lexington-based company’s officials said that the company was unable to raise enough money or enter into a partnership in time and that it has entered into an Assignment for the Benefit of Creditors. The purpose of the Assignment is to conclude the company’s operations and provide for an orderly liquidation of its assets.
• New NVCA data reveals fewer Q2 VC deals, slower recovery
Numbers reported this morning by the NVCA and PricewaterhouseCoopers LLP were considerably less optimistic, showing $3.7 million invested over 612 deals. While Dow Jones analysts predicted a “rebound” in the venture investing sector, the NVCA says figures for the full year will most likely reflect a setback to 1996 and 1997 levels of $11 billion to $14 billion. (more…)
Tags: Akiba, AMSC, Apollo 11, Aveo Pharmaceuticals, Belden, Boston Scientific, Draper Lab, Epix Pharmaceuticals, First Wind, NASA, Raytheon, SEC, stimulus, Third Rock, VCs
Posted in Defense, Energy, Entrepreneurship, Envirotech, Financial Services, Hardware, IT, Internet, Legislation, Life Sciences, Manufacturing, Massachusetts, Personnel, Public Policy, Recovery, Software, Startups | No Comments »
Thursday, June 25th, 2009
Almost $60 million dollars changes hands in today’s roundup of finance news from MHT:
• Conn. to receive $15.4M in alternative energy stimulus
The funding from the U.S. Department of Energy is about half of the state’s $38 million in stimulus funds for its State Energy Plan submitted to the federal government last month.
About $8 million will go to expanding fuel cell initiatives through the state Clean Energy fund, with the goal of completing 14 more projects. A rebate program for residential and commercial geothermal systems will receive $5 million. Two plans to support solar thermal and photovoltaic installations will receive $7 million.
• Dyax raises $15M in stock offering
Biotherapeutics company Dyax Corp. says it is raising $15 million through a follow-on offering of 7.4 million shares of its common stock at a price of $2.02 per share.
Dyax reports it intends to use the money raised in the offering to fund the development and commercialization of DX-88, the company’s treatment for the rare and often fatal condition hereditary angioedema. In addition, Dyax will use the cash to fund ongoing research and preclinical activities, as well as for general corporate purposes.
Tags: AdMeld, clean tech, Connecticut, DARPA, Dyax, Raytheon, Spark Capital, stimulus, Taris Biomedical
Posted in Connecticut, Defense, Energy, Envirotech, Financial Services, Life Sciences | No Comments »
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