Comcast unveils expanded ‘Red Sox On Demand’ library
Comcast, whose services include cable TV, said it is unveiling an updated version of its Red Sox On Demand feature that includes dozens of additions over what was available last year. For example, there is a content folder dedicated to Pedro Martinez, the retired pitching star who is now a special assistant to the team’s general manager. One item in the folder: “The K Story,” a documentary of Martinez. There’s also another documentary titled “My Name Is Ted Williams,” which focuses on his off-the-field interests such as fishing. “Red Sox On Demand delivers die-hard Sox fans this exciting programming, including up close, behind-the-scenes access to the team and the players, any time of the day,” Steve Hackley, senior vice president of Comcast’s Greater Boston region, said in a statement. “
FULL ENTRYJeff Vinik tells clients he will close hedge fund
Jeff Vinik told investors in a letter Friday that he plans to shut down his hedge fund and return clients’ money to them by June 30.
Vinik, a former Fidelity Magellan mutual fund manager who launched his own hedge fund in 1996, said he wants to devote more time to his ownership of the Tampa Bay Lightning hockey team and to his family, according to a copy of the letter obtained by the Globe.
Vinik had recently moved his Vinik Asset Management to Tampa to be closer to the team. His investment performance slipped in the past year, losing 4.8 percent in the 10 months since July 1, while markets have generally risen. Over the long term, he delivered 17 percent annually, on average, to his investors.
FULL ENTRYBoston Club report: Women play major roles at local nonprofits
Just over a third of board members for Massachusetts nonprofits are women, and 20 percent of the state’s nonprofits are headed by women chief executives, according to a new report from the Boston Club, an organization of senior executive and professional women. By comparison, women held just under 13 percent of the seats on the boards of directors at the state’s largest publicly traded companies in 2012, the group said. For the past decade, the Boston Club has been taking an annual census of female executives and board members at the state’s largest publicly traded companies. Because of the importance of nonprofits to the local economy, the Boston Club has decided for the first time to take a separate census of this sector of the economy.
FULL ENTRYColliers International: Local commercial real estate market posted a ‘solid first quarter’
The vacancy rate for the Greater Boston office and R&D real estate market declined from 17 percent to 16.9 percent during the first quarter, and select properties are beginning to see rent increases, according to a new report from Colliers International. In “red-hot” Cambridge, the vacancy rate fell from 10.5 percent in the fourth quarter of 2012 to 8.9 percent, said Colliers International, a real estate services firm with a big local presence. “Unlike 2012, when the lab market accounted for the entirety of the absorption (in Cambridge), the first quarter results were nearly evenly split between the office and lab sectors,” the firm said. As for downtown Boston, the firm said, “The strength of the recovery in the Financial District that began in 2012 carried into the quarter.”
FULL ENTRYStaples will sell 3D printers
Staples Inc., the office supply giant, said Friday that it is the first major US retailer to announce the availability of 3D printers. 3D printing allows for the creation of shapes or objects using digital technology, and the Cube 3D Printer from 3D Systems is now available on Staples.com for $1299.99 and will be available in a limited number of Staples stores by the end of June, the Framingham-based company said. The Cube 3D Printer features WiFi, is compatible with Mac or Windows, and comes with 25 free 3D templates designed by professional artists, with additional templates available online. With its portable design, the Cube fits easily in the office, classroom or living room, making it the perfect 3D printing device for designers, small businesses, and students.
FULL ENTRYKeurig single-serve coffee systems to get expanded presence in foodservice locations
Green Mountain Coffee Roasters Inc., a Vermont company whose brands include Keurig systems that brew coffee one cup at a time, said that its Keurig K150 Series Commercial Brewing System has been certified by the National Sanitation Foundation for foodservice use. “Becoming NSF certified is an important step in our focus on the foodservice industry, a key growth channel for our away-from-home business,” company president and chief executive Brian P. Kelley said in a statement. “Foodservice represents approximately 65 percent of coffee purchases outside the home, so it is only natural for us to evolve our offerings to meet the needs of customers and consumers in new marketplaces.” Much of the company’s Keurig operations are based in Massachusetts. National Sanitation Foundation is an accredited, third-party certification body.
FULL ENTRYZipcar expands car sharing to eight airports
Zipcar is expanding its hourly car rental empire to the airport, with reservations being taken at eight new airports beginning Thursday. Logan International Airport does not yet have service but will in the future, the company said.
Zipcar Inc., which became a subsidiary of Avis Budget Group Inc. earlier this year, brought car-sharing to the three New York-area airports – LaGuardia, John F. Kennedy, and Newark Liberty – in late March, and is now serving airports in Toronto, Philadelphia, Atlanta, Palm Beach, Austin, Phoenix, Los Angeles, and San Jose. The vehicles are located in Zipcar spaces next to the Avis pickup facility at each airport; they rent from $9-$12 an hour and $69-$89 per day.
Zipcar members can activate their reservations with a key card.
FULL ENTRYHamilton Co. buying 134-unit apartment building in Boston’s South End
The Hamilton Co. said Thursday it is buying 134-unit apartment complex in Boston’s South End.
The company will purchase the property for $52 million from Boston Land Development. Hamilton Co., owned by Harold Brown, has been on a buying spree of late, snapping up $300 million in properties over the last three years.
The South End apartment building is located within the Northeastern University campus at 650 Columbus Ave., near the South End’s border with Roxbury. The parcel also includes 33 condominiums and a 141-car parking garage.
“These well-developed, managed and maintained buildings will continue to meet the moderate priced housing needs of the South End residents and Northeastern University’s student population,” said Carl A. Valeri, president of Hamilton Co.
FULL ENTRYInsulet, Eli Lilly enter agreement to help patients with type 2 diabetes
Insulet Corp., a medical device company based in Bedford, will develop a pump specifically designed to deliver a concentrated form of insulin made by Eli Lilly and Co. for diabetics who need the drug in high doses, the two companies said Thursday. Insulet makes a tubeless insulin pump known as the OmniPod Insulin Management System. The OmniPod is a small pump about half the size of a hard-boiled egg. Diabetics wear the pump, which uses an adhesive to stick to such places as shoulder blades and the side of the stomach. Under Thursday’s agreement, Insulet will develop a new version of the OmniPod that is specifically designed to for use with Humulin R U-500, Eli Lilly’s drug for people who require significantly higher doses of insulin.
FULL ENTRYFDA advisory panel overwhelming recommends rejection of Aveo’s kidney cancer drug
An advisory panel Thursday recommended the Food and Drug Administration reject a kidney cancer drug developed by Aveo Pharmaceuticals Inc., sending the Cambridge biotechnology company’s stock down more than 47 percent to $2.77 a share in afternoon trading.
The 13-1 vote against approving the experimental drug known as tivozanib is a blow to Aveo, which last fall restructured its operations to focus resources on the the treatment. While the vote by a national committee of cancer specialists isn’t binding, the FDA only rarely overrides an advisory panel recommendation. It is set to decide on the drug by July 28.
Despite the overwhelming vote against recommending approval, Aveo executives said Thursday that they will push forward with the kidney cancer drug.
FULL ENTRYCambridge Health Alliance, Beth Israel Deaconess Medical Center sign affiliation agreement
Cambridge Health Alliance and Beth Israel Deaconess Medical Center said Thursday that they have signed an agreement to form a clinical and academic affiliation to enhance care provided by both institutions. Cambridge Health Alliance patients will benefit from enhanced coordination, including shared electronic medical records, when they need more complex care from BIDMC specialists. Beth Israel Deaconess Medical Center patients will benefit from access to CHA’s community hospital services, ensuring they will be able to receive high-quality care close to home, the two said in a press release. In October, the two said they had entered exclusive talks to explore a potential affiliation. Cambridge Health Alliance has been seeking a partnership with a financially stronger hospital system for at least two years.
FULL ENTRYThe Hamilton Co. buys apartment complex near Northeastern University for $52m
The Hamilton Co., the real estate company owned by well-known Greater Boston landlord Harold Brown, said Thursday that a subsidiary has purchased a 134-unit apartment complex at Boston’s 650 Columbus Ave. for $52 million. The seller was Boston Land Development. The purchase was financed by KeyBank N.A. The property at 650 Columbus Ave. occupies an entire city block near the Northeastern University campus, Hamilton Co. said, and the complex includes 33 condominiums and 134 rental apartments. This is the latest purchase by Boston-based Hamilton Co., which said it has made nearly $300 million worth of purchases in the past three years. The company currently owns and operates more than 5,000 apartments and 3 million square feet of commercial property throughout Eastern Massachusetts.
FULL ENTRYFriendly’s launches ‘Build Your Own Burger’ contest
Friendly’s, a one-time ice cream icon looking to rejuvenate its restaurant mojo, is launching a “Build Your Own Burger” contest that could yield the winner the ground-beef equivalent of 15 minutes of fame. One of the prizes? The opportunity for a budding uber chef to have his or her burger featured for one month at their local Friendly’s restaurant, the Wilbraham-based chain said. As many locals know, Friendly’s got its start in Springfield in 1935. And for many years, its formula of serving up family-friendly meals capped off by an ice cream dessert delighted New Englanders. But then times and tastes changed, and the chain hit some rough patches. Now it is looking to press on and win new fans.
FULL ENTRYFoundation Medicine partners with Memorial Sloan-Kettering Cancer Center
Foundation Medicine Inc., a Cambridge biotechnology company using genomics data and DNA sequencing to help doctors pinpoint treatments for cancer patients, is partnering with Memorial Sloan-Kettering Cancer Center to co-develop a molecular diagnostic product designed to match patients with hematologic cancers with the best treatments. Hematologic cancers include leukemia, lymphoma, and myeloma, the two entities noted in a press release. As of January, Foundation Medicine had raised nearly $100 million, including investments from Microsoft Corp. founder Bill Gates and Russian billionaire Yuri Milner. Foundation Medicine was founded by a team of top-tier Boston area scientists, including Eric Lander of the Broad Institute and biotechnology entrepreneur Alexis Borisy. They were among the first to recognize the importance of understanding the human genome in developing “personalized” medicines to treat diseases.
FULL ENTRYSteward sues Blue Cross Blue Shield of Rhode Island, charging the insurer interfered with chain’s plans to acquire Rhode Island hospital
Steward Health Care System, which terminated an agreement to buy a Woonsocket, RI, hospital last fall, charged in a lawsuit Wednesday that Rhode Island’s largest health insurance company blocked the deal by failing to negotiate reasonable health care payments.
In a complaint filed in state Superior Court in Providence, Boston-based Steward, which runs a chain of hospitals and doctors groups across eastern Massachusetts, alleged Blue Cross Blue Shield of Rhode Island engaged in anticompetitive practices and interfered with prospective contractual relations to thwart Steward’s proposed acquisition of Landmark Medical Center.
Steward, owned by the New York private equity firm Cerberus Capital Management, demanded a trial by jury d asked for Blue Cross Blue Shield to pay unspecified financial damages.
FULL ENTRYLife is good teaming with Smucker to brew a line of coffees
Life is good, the Boston-based company that touts its “power of optimism” brand of clothing and accessories, is planning to sell coffee.
The company said it will partner with the J.M. Smucker Company to bring Life is good coffee to retailers throughout North America. Starting late this summer, flavors such as “Light Hearted,” “Happy Medium,” “Dark & Daring,” “S’more to Love” and “Banana Bread Bliss” will be available at Life is good retail stores, Genuine Neighborhood Shops, grocery store chains, and on Lifeisgood.com.
“We are grateful to partner with the timeless brand and outstanding team at the J.M. Smucker Company,” said Bert Jacobs, Life is good chief executive, in a statement.
Life is good has about 4,500 retail stores in all 50 states and 30 countries.
FULL ENTRYMassachusetts AG Coakley praises Obama’s reported pick to head federal housing agency
Massachusetts Attorney General Martha Coakley on Wednesday praised President Barack Obama for reportedly planning to appoint Rep. Mel Watt, a Democrat from North Carolina, as the new director of the Federal Housing Finance Agency.
Obama is scheduled to announce Wednesday afternoon plans to appoint Watt to take over the agency that oversees mortgage giants Freddie Mac and Fannie Mae, companies that own or guarantee about three-quarters of all residential mortgages in the country.
Watt would replace acting FHFA director Edward J. DeMarco, who has been criticized by Coakley and other attorneys general for failing to support principal write downs as way to help troubled homeowners avoid foreclosure. Watt is a senior member of the House Financial Services Committee and former chairman of the Congressional Black Caucus.
FULL ENTRYBattery maker A123 Systems hopes new venture tech division will be part of its rebirth
Waltham battery maker A123 Systems LLC is launching a new division that will allow energy storage start-ups access to the company’s technology, lab space, and expertise, as well as financial support, in exchange for pieces of the smaller firms.
The company unveiled the division, called A123 Venture Technologies, at the Knowledge Foundation’s Next Generation Batteries conference in Boston Wednesday. The aim is to accelerate the commercialization and adoption of advanced batteries, while positioning A123 to remain a leader in the field, acccording to the company.
Mujeeb Ijaz, chief technology officer, said the venture technologies division is part of a new philosophy at A123, which was bought out of bankruptcy in January by the North American arm of the Chinese auto parts conglomerate Wanxiang Group.
FULL ENTRYShares of Aveo Pharmaceuticals plummet as FDA weighs new clinical trial for kidney cancer drug
Shares of Aveo Pharmaceuticals Inc. plummeted more than 30 percent Tuesday after the Food and Drug Administration said another clinical trial may be needed to weigh the risks and benefits of the Cambridge company’s kidney cancer treatment. The development raised the prospect of a delay in the FDA’s ruling on Aveo’s experimental drug for advanced renal cell carcinoma. The agency had been scheduled to decide by July 28 whether to approve the drug for sale in the US. More than 200,000 people worldwide suffer from renal cell carcinoma, and at least 12,000 new US cases are diagnosed each year.
Aveo executives are scheduled to meet with an FDA advisory committee Thursday to argue for speedy approval..
FULL ENTRYBoston’s Disruptor Beam strikes deal with Zynga to distribute Game of Thrones Ascent
Game of Thrones Ascent, the online videogame created by Boston developer Disruptor Beam, could soon attract a much larger audience thanks to a deal with casual gaming giant Zynga Inc. of San Francisco. The game, based on the popular HBO television series, is currently available on Facebook and gaming site Kongregate.com. Now Zynga has agreed to offer Game of Thrones Ascent on its own Zynga.com website, and to promote the game to millions of people who play Zynga’s games on Facebook.
The deal reflects a strategy shift at Zynga. While the company claims to attract 250 million gamers every month, the popularity of its games has recently waned, and first-quarter revenues were down 18 percent from the same period in 2012.
FULL ENTRYHome values in the Boston area increased by more than 5 percent in February, continuing trend
Home values in the Boston area increased by 5.2 percent in February compared with the same time last year, according to data released Tuesday.
Home values nationwide increased even more – by 9.3 percent – in the 20 cities covered by the S&P/Case-Shiller Home Price Indices, which tracks repeat home sales and is considered reliable.
February’s numbers represent the second month in a row that all 20 cities showed price increases compared with the year before, Case-Shiller said. It is another sign that housing markets across the United States are on the upswing.
“Housing continues to be one of the brighter spots in the economy,’’ said David M. Blitzer, chair of the index committee at S&P Dow Jones Indices.
FULL ENTRYEastern Bank celebrating small business
Beginning May 1, Eastern Bank will feature one local small business on its Facebook page every day throughout May in its “31 Days of Celebrating Small Business,” the company said in a statement. Studio Poise, a dance and fitness studio located in Lynnfield, is the among the first businesses to be featured. On every Tuesday in May, Eastern Bank will start a Facebook discussion group inviting people to plug their small business, the company wrote. In addition there will be displays set up inside each of the bank’s 99 branches allowing featured companies to promote their offerings.
FULL ENTRYJapan Airlines to resume Boston-Tokyo flights on 787
Japan Airlines plans to resume its daily Boston-Tokyo on the Boeing 787 on June 1, the carrier announced Tuesday, following aviation authorities’ approval last week of Boeing’s new lithium ion battery system. Japan Airlines will also restart 787 service from Tokyo to San Diego, Singapore, and Beijing June 1, followed by flights to Delhi July 12, Moscow and San Francisco Sept. 1, and Sydney and Bangkok in December. The airline will also launch new service to Helsinki, originally scheduled to begin in February, on July 1.
FULL ENTRYGas prices in Massachusetts drop another 2 cents
Those pennies are starting to add up to more than pocket change. Gasoline prices in Massachusetts dropped another another 2 cents per gallon over the last week.
AAA Southern New England reported Monday that a gallon of self-serve regular is now priced at an average of $3.42 per gallon, eight cents below the national average.
In the past month, prices at the pumps have declined 17 cents per gallon — 40 cents lower than at the same time last year.
AAA found self-serve regular in Massachusetts selling for as low as $3.29 per gallon and as high as $3.69.
FULL ENTRYRue La La founder Fischman is out as CEO
Rue La La founder Ben Fischman, who started the online shopping website in 2008, has quit as chief executive, the Boston company told employees Monday. Steve Davis, who was serving as president, will replace Fischman.
“We founded Rue La La five years ago to offer consumers the most engaging online retail experience, and I leave the company in the hands of Steve and a brilliant team who share and will continue that vision,” Fischman said in a statement. Neither he nor company chairman Michael Rubin offered an explanation for Fischman’s abrupt departure.
‘‘We thank Ben for his passion and commitment that he displayed and for paving the way for [Davis] to continue to elevate our company,” Rubin said in the same statement.
FULL ENTRYDunkin’ Donuts rolls out turkey sausage sandwich
Dunkin’ Donuts’ newest offering wouldn’t be out of place at Thanksgiving, but the Canton-based chain is hoping customers gobble it up all year round. A turkey sausage breakfast sandwich, which was tested in some restaurants earlier this year, has earned a permanent place on the menu at Dunkin’ Donuts shops nationwide, the company said Monday.
The sandwich is fried egg with turkey sausage and reduced-fat cheddar cheese, on an oven-toasted English muffin. At under 400 calories, the coffee chain is touting it as a healthier breakfast option.
During the limited-store testing, the new sandwich “was one of the most successful
and well-received products we’ve ever launched,’’ said John Costello, president of global marketing and innovation for Dunkin’ Brands, the chain’s parent company.
FULL ENTRYCitizens Bank giving $210,000 to 5 local nonprofits
The Citizens Bank Foundation, the nonprofit outpost of Citizens Financial Group Inc., said Friday it will give $210,000 to five Massachusetts nonprofits that promote and teach financial literacy.
Recipients include Interise, a nonprofit aimed at growing small businesses; uAspire, an organization focused on college affordability; the Urban League of Eastern Massachusetts; Girl Scouts of Central and Western Massachusetts; and Girl Scouts of Eastern Massachusetts.
The funding is part of the Rhode Island-based bank’s new program to provide nonprofits across 12 states with $2 million in support, according to the company. “This investment will certainly make a difference in helping adults and young people in Massachusetts learn to make smart decisions when it comes to personal and business finances,” said Jerry Sargent, president of Citizens Bank and RBS Citizens, Massachusetts.
FULL ENTRYCheeseboy plans grilled-cheese sandwich giveaway for Sunday
Michael Inwald claims to have no idea why April has been designated as National Grilled Cheese Month, but as the founder of the Cheeseboy chain, he is not about to pass up a homage to fromage. In tribute to this icon of comfort-food cuisine, his “Cheeseboy: Grilled Cheese To Go” locations plan to give away their signature product for free on Sunday from 1 p.m. until 6 p.m. Cheeseboy has four outlets in Greater Boston --- at South Station, the Prudential Center, Natick Mall, and South Shore Plaza. These are kiosks and food-court locations. Within a few months, the chain plans to open its first stand-alone store in Downtown Crossing. For the record, the chain’s croûte au fromage features American cheese grilled on “all-natural Italian bread.”
FULL ENTRYGov. Patrick seeks federal aid for businesses that lost money because of the Marathon
Massachusetts Governor Deval Patrick has sent a letter to the federal Small Business Administration seeking financial assistance for small businesses and private nonprofits that suffered losses because of Boston Marathon bombings last week. Patrick on Friday asked the federal agency to issue a special declaration for Suffolk County that would make available low-cost SBA loans. “Requesting this federal aid will help Boston and the Commonwealth recover faster from the tragic events that unfolded at the Marathon,” Patrick said. If the Small Business Administration grants Patrick’s request and issues what it known as an Economic Injury Declaration, the Massachusetts Emergency Management Agency, or MEMA, MEMA would work with the SBA and the Boston Office of Emergency Management to determine which businesses might be eligible for loans.
FULL ENTRYMass. economy sees surprisingly strong growth
Massachusetts economy grew at a solid pace in the first three months of 2013, with jobs, wages and salaries on the rise, according to a report released Friday by the University of Massachusetts and the Federal Reserve Bank of Boston.
The state economy expanded an annual rate of 3.9 percent between January and March, up from 2.4 percent in the preceding three months. In contrast, US Commerce Department said Friday that the nation’s economy grew by 2.5 percent between January and March, up from 0.4 percent in the final three months of 2012.
“What’s surprising was how quickly the growth occurred in the beginning of this year,” said Northeastern University economist Alan Clayton-Matthews. “There were all these signs of an economy starting to take off.”
FULL ENTRYBoylston Street’s Abe & Louie’s and Atlantic Fish Co. are set to reopen Saturday at 5 p.m.
Abe & Louie’s steakhouse and Atlantic Fish Co., two restaurants on Boston’s Boylston Street, will reopen for business on Saturday at 5 p.m. after a 12-day closure following the Boston Marathon bombings. Abe & Louie’s and Atlantic Fish are near each other --- and they are also near the site of the second explosion, a company spokeswoman said. In the aftermath of the bombings, a stretch of Boylston Street was turned into a crime scene. Employees of Abe & Louie’s and Atlantic Fish were able to return to the restaurants on Wednesday, said Tavistock Restaurants, the San Franciso-based company that operates Abe & Louie’s and Atlantic Fish. Abe & Louie’s and Atlantic Fish have spent the last few days repairing, prepping, and cleaning the restaurants.
FULL ENTRYStaples unveils solar power installation at Framingham HQ
Office supply giant Staples Inc. has just unveiled a solar power installation at its Framingham headquarters. Company officials said they worked with SunEdison on a project that resulted in a 685 kilowatt solar installation on the 650,000 square-foot office building that serves as Staples’ headquarters. According to Staples, this is its 37th solar array. “The installation brings the company’s use of solar power to a total of nearly 14 megawatts across its operations nationally, which is equivalent to powering nearly 1,800 average US homes for one year,” Staples said in a press release. Mark Buckley, the company’s vice president of environmental affairs, added, “This solar power system at our global headquarters is a demonstration of Staples’ dedication to sustainability across our business.”
FULL ENTRYLove your job? Nominate your organization for The Globe’s Top Places to Work
Love your job and where you work? Tell us all about it. Nominate your organization for The Boston Globe’s Top Places to Work survey, our annual ranking of the most progressive employers in the state. All kinds of employers are eligible, from public and private companies to nonprofits. They have to be operating in Massachusetts and employ more than 50 people. If your organization is nominated and agrees to participate, employees will be surveyed by our partner, WorkPlaceDynamics LLC. Employers will be measured on six factors including leadership and opportunities for training. Responses are confidential, and the results will be published in November, online and in a special Top Places to Work magazine inserted into the Boston Sunday Globe.
FULL ENTRYHoney Dew Donuts to donate a portion of Monday sales to the One Fund Boston
The parent of Honey Dew Donuts, a Plainville-based chain of more than 150 stores, said that participating locations will donate 10 percent of sales made in stores on April 29 to the One Fund Boston. The One Fund Boston is an organization established by Massachusetts Governor Deval Patrick and Boston Mayor Thomas Menino to raise funds for people and families affected by last week’s bombings near the finish line of the Boston Marathon. “We were all shocked and heartbroken by the attacks made at the Boston Marathon and the tragic events that followed,” Richard Bowen, president of Honey Dew Associates Inc. said in a statement. “Our prayers are and will remain with the victims and their families.”
FULL ENTRYMass. pension chief gives pay raises to 22 employees over treasurer’s dissent
The executive director of the Massachusetts state pension fund has given raises to 22 staffers, including several double-digit increases, after approval by the board in December to boost pay despite dissent from state Treasurer Steve Grossman. According to a letter from director Michael Trotsky to the board, a copy of which was obtained by the Globe, two of the highest paid employes at the pension board after Trotsky will earn $195,000 each. For chief operating officer Tom Hanna, that represents an 8.3 percent raise, while for general counsel Chris Supple, it is an 18.2 percent raise. The total increases add up to $298,000 a year. Trotsky, in his letter, says that is less than the $400,000 the fund is saving by entrusting him with two jobs — investment chief and executive director.
FULL ENTRYRadius Health completes $43m financing to advance treatment for osteoporosis
Radius Health Inc., a Cambridge biopharmaceutical company focused on developing new therapeutics for the treatment of osteoporosis and other women’s health conditions, said Thursday that it has completed a new equity financing of $43 million. The financing was led by F2 Biosciences III L.P., with participation from existing investors Biotech Growth N.V., MPM Capital, Brookside Capital, MPM Bio IV NVS Strategic Fund, and BB Biotech Ventures, Radius Health said in a press release. Radius Health said it plans to use the funding to support the continued advancement of the company’s clinical development programs for its lead asset, BA058, a novel anabolic, bone-building compound for the treatment of patients with osteoporosis at high risk of fracture. BA058-SC, an injectable form of BA058, is currently in a Phase 3 trial.
FULL ENTRYBoston Scientific swings to 1Q loss on charges
Natick-based medical device maker Boston Scientific Corp. said Thursday it swung to a first-quarter loss on restructuring charges and a write-down of the value of its defibrillator business. In January, Boston Scientific announced plans to cut 900 to 1,000 jobs this year to trim costs in the face of limited growth prospects and new taxes related to the health care overhaul. Those cuts come on top of a restructuring plan started in 2011 that included 1,200 to 1,400 planned job cuts. The company employs roughly 24,000 people worldwide, and the additional cuts could amount to as much as 4 percent of the company’s workforce. For the first quarter of 2013, the company reported a net loss of $354 million, or 26 cents per share.
FULL ENTRYYankee Candle unveils ‘Boston Strong’ candle
Yankee Candle, the Deerfield company known for its scented candles, has unveiled a limited edition “Boston Strong” candle designed to honor the victims and the first responders of the Boston Marathon bombings. “All net proceeds for the commemorative candle will be donated to the One Fund Boston, the official nonprofit organized by Mayor Tom Menino and Governor Deval Patrick to raise money to help those families most affected by the Boston Marathon bombings,” Yankee Candle said. The suggested price for the candle is $27.99. It can be pre-ordered online, and plans call for the candle to start shipping on May 22. The candle’s scent has a hint of freshly poured tea, and the candle itself features an image of the Boston skyline in front the American flag.
FULL ENTRYMassachusetts groups awarded $130m under New Markets Tax Credit program
Massachusetts groups have been awarded $130 million under the annual allocation of the US Treasury Department’s New Markets Tax Credit program. Bay State recipients include Massachusetts Housing Investment Corp., a private nonprofit investor and lender that received a New Markets Tax Credit allocation award of $65 million. MassDevelopment, the state’s finance-and-development agency, received a $40 million allocation under the program. And the Community Builders Inc., a Boston-based nonprofit developer of mixed-income housing, received a $25 million allocation. “The New Markets Tax Credit addresses one of the most significant obstacles to economic development that low-income communities face: a lack of access to patient, private investment capital,” Treasury Assistant Secretary for Financial Institutions Cyrus Amir-Mokri said. Nationwide, $3.5 billion was allocated under the New Markets Tax Credit program.
FULL ENTRYNABE Boston launches to share ideas about economics
A group of local economists has established the Boston Chapter of the National Association for Business Economics. While modeled after the National Association for Business Economics in Washington, NABE Boston is an independent organization that seeks to provide a local forum where people interested in economics can share ideas and network, its organizers said. The new organization is not just for economists, but also for professionals who use economics in their work in the private sector, government, or academia. NABE Boston is led by Gregory Daco, a founding member. Daco is also a senior economist in the US Macroeconomics Group at IHS Global Insight, an economic forecasting firm with offices in Lexington. “The creation of an organization for all professionals interested in economics is long overdue,” Daco said.
FULL ENTRYAstraZeneca Q1 net profit plunges 31 percent, drug maker gets Massachusetts subpoena
LONDON --- AstraZeneca PLC, a British drug maker with a presence in Massachusetts, said first-quarter profits fell 31 percent. The company, which is facing generic competition, also announced Thursday that it has received a subpoena from legal authorities in Massachusetts. Net profit for the three months to March 31 was $1.01 billion, down from $1.63 billion a year earlier. Revenue was 13 percent lower at $6.39 billion. The company said generic competition for bipolar medication Seroquel IR, hypertension drug Atacand, and cholesterol drug Crestor drove revenue down. The company said it received a subpoena March 28 from the US attorney’s office in Boston seeking documents relating to standards at its facility in Macclesfield, northwest England. It did not give further details.
FULL ENTRYAngel investment in start-ups continues climbing
Funding for the earliest stage companies by angel investors hit $22.9 billion last year, a 1.8 percent bump over 2011, but the total number of individuals willing to risk money by backing the earliest stage companies fell by 15.8 percent. While fewer angel investors, or wealthy individuals who fund new companies, were active last year, the ones who did invest spent more, according to the Center for Venture Research at the University of New Hampshire, which released its annual angel investment report on Thursday. The average investment amount climbed to $85,435 for 2012, a 20.9 percent jump compared with $70,690 in 2011. Many more female investors were active in 2012, according to the report.
FULL ENTRYAkamai shares rise on strong 1Q earnings
Stock shares of Akamai Technologies Inc. were up nearly 19 percent in morning trading Thursday after the Cambridge-based provider of Internet content delivery services issued strong results for its first quarter. In a press release, Akamai said that first-quarter revenue rose 15 percent to $368 million on a year-to-year comparison basis. The company also reported first-quarter GAAP net income of $71 million, up 65 percent year-over-year. “We are very pleased with our first quarter results, delivering better than expected revenue growth and EPS expansion,” Akamai chief executive Tom Leighton said. At one point during mid morning, Akamai shares were up $6.75 to $42.84.
FULL ENTRYNY Times Co. revenues drop 2 percent
The New York Times Co., parent of The Boston Globe, BostonGlobe.com, and Boston.com, said Thursday that first-quarter revenues fell 2 percent to $465.9 million as a “difficult advertising environment continued.” Net income was $3.1 million, down 93 percent. The year-ago quarter included a one-time gain from the sale of shares in the company that operates the Red Sox. For the first quarter of 2013, NY Times Co. reported an operating profit of $22.9 million. The New England Media Group, which includes The Globe, had total first-quarter revenues of $85.26 million, down 6.7 percent. Paid digital subscribers to BostonGlobe.com and The Boston Globe’s e-readers and replica editions totaled about 32,000 at the end of the quarter. NY Times Co. is looking to sell the New England Media Group.
FULL ENTRYDunkin’ Donuts same-store sales rose 1.7 percent in US
Dunkin’ Brands Group Inc., the Canton-based parent company of Dunkin’ Donuts and Baskin-Robbins, said Thursday that sales at Dunkin’ Donuts stores open at least a year, a key retail metric, rose 1.7 percent. That increase was driven partly by customers buying add-on items such as hash browns and turbo shots, the company said in a press release; customers also purchased more premium-priced, limited-time items such as the Turkey Sausage Breakfast Sandwich.The Baskin-Robbins chain is known for its ice cream, a product whose sales can be influenced by the weather. Dunkin’ Brands said that it experienced a “significant weather impact” on its US operations during its first quarter. Net income was $23.8 million, a drop of 8.3 percent. A debt repricing was one reason for the decline.
FULL ENTRYFormer Portland Press Herald publisher accused of misusing $500,000
The former chief executive of a media group that publishes the Portland Press Herald in Maine has been accused by his former employer of misusing more than $500,000 of company money. Richard L. Connor, who led MaineToday Media from 2009 to 2011, gave himself unauthorized raises and charged the company for personal expenses, including vacation home rentals and a new car for his son, according to a memo sent to employees Wednesday by MTM’s current publisher, Lisa DeSisto.
FULL ENTRYLove your job? Nominate your organization for The Globe’s Top Places to Work
Love your job and where you work? Tell us all about it. Nominate your organization for The Boston Globe’s Top Places to Work survey, our annual ranking of the most progressive employers in the state. All kinds of employers are eligible, from public and private companies to nonprofits. They have to operate in Massachusetts and employ more than 50 people. People can learn more details about the survey and the nominating process by attending a breakfast meeting this Thursday at The Boston Globe headquarters on Morrissey Boulevard. From 8 a.m. until 10 a.m. in The Globe’s Affiliated Dining Room, Globe Business Editor Shirley Leung is scheduled to be on hand to discuss the process. Register for more information or join us at a free breakfast Thursday morning. Please RSVP here.
FULL ENTRYGen9, a Cambridge gene synthesis firm, gets $21m investment from Agilent Technologies
Agilent Technologies Inc. has made a $21 million investment in Gen9 Inc., a Cambridge company specializing in gene synthesis. Customers can potentially use Gen9’s technology to more efficiently make everything from fabrics and chemicals to drugs and renewable fuels. According to Gen9, methods using its technology are more cost-effective than traditional methods. Headquartered in California, Agilent is a $6.9 billion company focused on chemical analysis, life sciences, diagnostics, electronics, and communications. In a press release, Agilent said its partnership with Gen9 complements Agilent’s existing investments in synthetic biology and gene synthesis. Agilent is taking an equity stake in Gen9. Gen9 was founded in 2009 by Joseph Jacobson of the Massachusetts Institute of Technology, George Church of Harvard Medical School, and Drew Endy of Stanford University.
FULL ENTRYBoston Scientific ‘inaugurates’ large rooftop installation of solar panels in Quincy
Boston Scientific Corp. said it is celebrating Earth Day by “inaugurating” a large rooftop installation of solar panels at the company’s distribution center in Quincy. The installation, made up of 3,900 panels, covers 120,000 square feet of roof top, and it is expected to produce about a quarter of the distribution center’s power needs, said Boston Scientific, a Natick-based maker of medical devices. According to the company, the nearly 1.7 million of kilowatt hours per year that the installation will produce is the equivalent of the amount of electricity used annually by 145 average-sized American homes. This is the third-largest rooftop solar installation in Massachusetts, according to data provided by the Massachusetts Executive Office of Energy and Environmental Affairs, Boston Scientific said.
FULL ENTRYL.L.Bean commits $150,000 to the One Fund Boston
L.L.Bean, the well-known retailer of outdoor gear headquartered in Freeport, Maine, announced Wednesday a $150,000 commitment to The One Fund Boston, an organization established by Massachusetts Governor Deval Patrick and Boston Mayor Thomas Menino to raise funds for people and families affected by last week’s bombings near the finish line of the Boston Marathon. “Like so many throughout the country and across the globe, we are saddened and shocked by the events that occurred in Boston,” L.L. Bean president and chief executive Chris McCormick said. “The One Fund Boston helps to ensure that those individuals and families tragically impacted have a resource to turn to for immediate support as well as ongoing needs as they put their lives back together.”
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