Sunovion, Ironwood, OvaScience, & More Boston Life Sciences Newsmakers
[Corrected 8/31/12, 10:15 am. See below.] No slowdown in this unofficial last week of summer. We saw plenty of activity with partnerships, funding, IPO filings, and FDA approvals among New England life sciences companies.
—Agriculture giant Monsanto is buying worldwide rights to Alnylam Pharmaceuticals’ (NASDAQ: ALNY) RNAi-based technology for use in farming. The Cambridge, MA-based biotech is receiving a $29.2 million upfront payment and is eligible for additional milestones and royalties.
—Cambridge-based obesity drug developer Zafgen told Mass High Tech that it raised $3 million in new Series C round equity financing.
—OvaScience, a Cambridge-based developer of infertility treatments based around stem cell science, filed paperwork with the SEC indicating its intent to go public. It hopes to sell 7.6 million shares of its stock on the over-the-counter exchange.
—Ironwood Pharmaceuticals (NASDAQ: IRWD) of Cambridge got the FDA nod for U.S. sales of its first drug, a treatment for chronic constipation and irritable bowel syndrome with constipation (IBS-C) in adults.
—Cambridge-based Vecna Technologies has developed a mobile medical records system for use in rural health centers. The device, created through a joint effort with the non-profit Vecna Cares Foundation, includes a server, solar charging tech, tablet docking, and diagnostic software.
—Marlborough, MA-based Sunovion Pharmaceuticals is acquiring San Diego-based Elevation Pharmaceuticals in a deal that could be worth up to $430 million. Elevation is developing an inhalable drug for easing the breathing of patients with respiratory disease. [An earlier version of this sentence incorrectly stated the acquisition amount to be $436 million. We regret the error.]