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- PerkinElmer Sells Unit for $500M, Aveo Stock Climbs, Pfizer Buys FoldRx, & More Boston-Area Life Sciences NewsToday
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Erin Kutz wrote:
This week we saw news of acquisitions from drug giants, and got updates on several New England biotechs.
—The FDA alerted South San Francisco-based Genentech that it was not going to review its application for accelerated approval of its “empowered antibody” drug, developed with technology from Waltham, MA-based ImmunoGen. The FDA said that T-DM1, which combines an existing breast cancer drug from Genentech with a cancer-killing toxin from ImmunoGen (NASDAQ: IMGN), did not meet the requirements for accelerated approval because all other treatment options for the patient population had not been exhausted.
—I profiled Boston-based FitVirtual, a developer of Web-based platforms for corporate wellness programs and tailored exercise plans. The startup, which is part of the MassChallenge competition, is hoping to use social networking to help users find fitness
- Advertisement:Yesterday
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- HP Wins Bidding War for 3ParYesterday
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Wade Roush wrote:
Hewlett-Packard (NYSE: HPQ) announced today that it will acquire Fremont, CA-based storage virtualization company 3Par (NYSE: PAR) for for about $2.35 billion. That’s more than twice the price originally offered by Dell in mid-August; the two computer industry giants have spent the last two weeks locked in a bidding war for 3Par, with HP’s $33 per share offer ultimately winning the day. “Combining 3PAR’s leading-edge utility storage products with HP’s existing storage solutions will strengthen HP’s unparalleled storage, server and networking portfolio,” HP said in a statement. 3Par will pay a $72 million termination fee to Dell as a result of its decision to accept HP’s offer.
- It’s Time for Universities to Get More NimbleYesterday
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Regis Kelly wrote:
“Early to bed,
Early to rise,
Makes a man healthy,
Wealthy and wise.”
Attempting to motivate their children to go to bed at a reasonable time, parents have for generations invoked these three time-honored rewards. Probably least compelling was the promise of health. Health is the absence of something–sickness–and is only fully appreciated when we do not have it. Yet, when we are really sick, health becomes our paramount concern. Few of us would choose to be a wealthy, wise man or woman if the price was advanced Alzheimer’s disease, terminal cancer, or crippling arthritis.
In this context, we have a major problem as a society. Despite our amazingly advanced technologies in communication, space travel, transportation, etc., we do not have technologies to keep us healthy. We cannot cure cancer, or Alzheimer’s disease or arthritis. Worse, cures are not even on the horizon. Why is it that our capacity to innovate in biomedical sciences seems to lag so dramatically behind our innovation capacity in aircraft design, for example?
As scientists employed as directors of an institute for biomedical innovation, we have to look closely at the impediments to improving health, and explore solutions. We are convinced
- Life Image Secures $5.2M in Second Financing Round to Push Medical Images in the CloudYesterday
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Ryan McBride wrote:
Life Image has won further investor support after more hospitals have bought its new technology for exchanging medical images via the Internet cloud. The Newton, MA-based software startup has closed $5.2 million of a planned $10 million Series B funding round to finance increased sales, marketing, and product development, company co-founder and chief executive Hamid Tabatabaie told Xconomy.
Princeton, NJ-based Cardinal Partners, a new investor in the company, led the round. The round also included investments from all of the company’s previous backers, Tabatabaie said. Those investors that the startup has named include Long River Ventures, Massachusetts Technology Development Corporation, and Partners Innovation Fund. He said he expects to raise the rest of the planned financing round in the coming months. The firm has now raised about $12 million si