Finance News

Friday, February 10, 2012

Russian venture firm puts $100K into MassChallenge 2012
Less than a month after landing in Boston, the new venture finance firm Russian Venture Co. U.S.A. has committed to being a platinum level sponsor of the MassChallenge 2012, which brings along a $100,000 investment by RVC-USA in the Boston-based startup competition.
Zalicus, Hydra team up on pain treatment
Zalicus Inc., the biopharmaceutical company formerly known as CombinatoRx, has teamed up with Cambridge neighbor Hydra Biosciences Inc. to move forward Zalicus’ pain treatment candidates.
Ironwood stock offering aims for $80M
Ironwood Pharmaceuticals Inc. has priced a public stock offering aimed at bringing in just under $80 million to support the expected launch of its irritable bowel syndrome drug candidate, linaclotide.

Thursday, February 9, 2012

iRobot share price falls 33 percent on defense outlook
IRobot Corp.’s stock has lost a third of its value, after the company announced it would likely lose a significant chunk of its revenue from military contracts in the current year, due to constrained Department of Defense budgets.
SpaceClaim draws up a $4M new funding round
Concord CAD software company SpaceClaim Corp. has raised $4 million in a new fundraising round according to an SEC document. CEO Chris Randles said the funds will help it expand distribution channels to keep up with rapid growth.
Forsyth gets $750K grant from Gates Foundation
The Forsyth Institute said today that it will get a $750,000 grant to research tuberculosis (TB) biomarkers through the Bill & Melinda Gates Foundation’s Grand Challenges in Global Health program, according to information provided by the institute.
Leonardi named Connecticut Innovations CEO
Connecticut Innovations, the state's quasi-public tech investment and development agency, has named venture capital veteran Claire Leonardi as its new CEO and executive director.
Hyatt leaves the Farmville for Spark Capital
Nabeel Hyatt has left the game development world and rejoined the venture capital community, taking a role at Spark Capital as its first venture partner.
Acetylon wins $15M strategic investment from Celgene
Acetylon Pharmaceuticals Inc. has taken in $15 million in a strategic investment from Celgene Corp., a potential partner or competitor in the treatment of blood cancers.
NanoViricides nabs $5M to take flu fighter to IND
NanoViricides Inc., a Connecticut biotech focused on nanomaterials for antiviral therapy, has closed out a $5 million financing with a $2.5 million tranche from Florida firm Seaside 88 LP.

Wednesday, February 8, 2012

Akamai CFO Sherman leaves for HubSpot
Akamai chief financial officer J.D. Sherman is leaving the Cambridge Internet data delivery firm after six years, heading across town to venture-backed HubSpot to take a role as president and chief operating officer. James Benson, senior vice president of finance, is taking over as CFO.
MassCEC, MTTC awards $120K for clean energy projects
The Massachusetts Clean Energy Center Catalyst Program, funded by MassCEC and Massachusetts Technology Transfer Center, has awarded $120,000 in clean energy research grants to three researchers from UMass Dartmouth, Tufts University and Northeastern University.
NeuroMetrix eyes $10.5M from securities offering
NeuroMetrix Inc., a Waltham medical device firm, is seeking $10.5 million from a public offering of stock and warrants. The company said it expects to apply the proceeds to commercializing its nerve conduction test and developing its pain therapy device.
Akamai advances mobile plans with Blaze buy
Akamai Technologies Inc. has bought Canadian company Blaze Software Inc. for an undisclosed amount of cash, to give it a technology that speeds up Web page rendering by optimizing delivery of content.
Zmags makes Merryweather the new CFO
Rich media marketing company Zmags Inc. has named Hugh Merryweather, former global CFO and head of new business development at concierge services provider Circles, as the Boston company's new CFO.

Tuesday, February 7, 2012

Synchroneuron focuses new funds on movement disorder drug
Synchroneuron Inc., a biotech company that emerged from stealth mode Monday with a $6 million Series A financing, said it will use the funds to finish developing a new formulation for a chemical compound that is approved for other indications, company executives told Mass High Tech in an interview.
Satcon stock rises more than 55% on China deal
Shares of utility-scale power conversion product supplier Satcon Technology Corp. of Boston jumped more than 55 percent to 87 cents per share in mid-day trading Tuesday after the company said it had inked a five-year sales, marketing and distribution agreement in China.
RI aids Utilidata's relocation with $500K loan
Rhode Island is luring Utilidata Inc., an energy technology company from Spokane, Wash., to its state with support from a $500,000 Renewable Energy Fund loan approved by the Rhode Island Economic Development Corporation.
Rib-X lands $3M milestone pay from Sanofi deal
Rib-X Pharmaceuticals Inc. scored a $3 million milestone payment from French biotech giant Sanofi related to a license for the New Haven, Conn.-based company’s antibiotics to fight superbugs.
Radius Health files IPO, aims for $86M
Radius Health Inc., a Cambridge biotech that has raised at least $198 million in financing, on Monday filed to go public in an offering that could raise up to $86.2 million. The filing follows the completed IPO of another Cambridge biotech, Verastem, last month.