Today’s Xconomy Report: Biogen Idec Meets Goals in Clinical Trial, iRobot Layoffs, $1M Awarded by MassChallenge, and Bay State Venture Capital Earnings
Today’s news: Weston, MA-based Biogen Idec, the largest maker of injectable treatments for multiple sclerosis, met its goals in a second clinical trial for an oral pill to treat the disease. The pill reduced flare-ups by 44 percent when taken twice per day, and by 51 percent if taken three times a day. Bedford, MA-based iRobot announced layoffs last week of 8 percent of its staff, or 55 employees across Massachusetts, North Carolina, and California, despite showing a strong third quarter profit. Boston startup accelerator MassChallenge awarded $1 million to be split across 17 startups, and Bay State companies collectively raised $250 million in venture capital last month. The total funding for the third quarter was $505 million, down by about half from the previous quarter when there was talk of a tech bubble.
In case you missed it this morning, have a listen. The Xconomy Report airs every Friday morning at 7:49am on 89.7 FM.