BG Medicine, Bottomline, 4s3 Bioscience Among the Week’s Dealmakers
Partnership news, funding announcements, and an acquisition made up the New England deals news in the past week.
—Concert Pharmaceuticals sold a worldwide license of its psychiatric drug to California-based Avanir Pharmaceuticals (NASDAQ: AVNR). The Lexington, MA-based biotech received an undisclosed upfront payment and is eligible for more than $200 million in additional sales and development milestones.
—Tata Motors, India’s largest automaker, enlisted Watertown, MA-based A123 Systems (NASDAQ: AONE) to supply the lithium-ion battery packs for its line of hybrid electric buses and other commercial vehicles.
—GE Capital Healthcare Financial Services announced that it provided Waltham, MA-based diagnostics company BG Medicine with a $15 million term loan facility. BG Medicine (NASDAQ: BGMD), which recently launched its BGM Galectin-3 test for heart failure patients, will use the money for commercialization and growth capital.
—Portsmouth, NH-based Bottomline Technologies (NASDAQ: EPAY), a maker of payment and invoice automation software, announced Monday that it will acquire the commercial banking business of Intuit (NASDAQ: INTU), as part of a new strategic partnership it formed with the Mountain View, CA-based financial software company. Financial terms of the deal were not disclosed.
—4s3 Bioscience, a Medford, MA-based maker of therapies for genetic diseases, nabbed $20 million in funding from KLP Enterprises to support development of its antibody technology.