Genzyme Sheds Testing Unit, Red Bend Acquires VirtualLogix, Acceleron Forges Alliance with Shire, & More Boston-Area Deals News
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— Cambridge-based drugmaker Acceleron Pharma nabbed $45 million in upfront cash, and stands to collect as much as $498 million total, in a deal with U.K.-based Shire. The co-development and co-marketing agreement gives Shire rights outside of North America for drugs that treat muscle disorders like Duchenne muscular dystrophy.
—Software maker Prelert raised $3.75 million in Series A financing from Fairhaven Capital Partners and Sierra Ventures. The Needham, MA-based startup, launched in 2008, makes tools that help identify the cause of IT service disruptions.
—Boston-based Locately, a location analytics firm, raised $300,000 in seed funding from new accelerator program and investment fund Project 11 Ventures, and members of Hacker Angels. Greg took a look at what makes the small deal so intriguing.
—Good Start Genetics, also of Boston, raised $18 million in a Series A round of funding from OrbiMed Advisors, Safeguard Scientifics (NYSE: SFE), and SV Life Sciences. The Harvard University spinoff plans to use the cash to help fund development of its technology for testing would-be parents for genetic mutations they might pass down to their children; Good Start aims to launch its service next year.
—Speaking of genetic testing, Cambridge-based Genzyme (NASDAQ:GENZ) agreed to sell its Genzyme Genetics unit to Laboratory Corporation of America for $925 million in cash. The divestment is part of a plan Genzyme announced in May to boost shareholder value; two additional Genzyme businesses are on the block as part of the plan.