Thursday, December 22, 2011

Daily Business Update

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Thu. Dec. 22, 2011

Caffeine Inhaler Is a Dangerous ‘Club Drug,’ NY Senator Says
Breathable caffeine dispensed from canisters is a ‘club drug’ that may be dangerous to teenagers, a New York senator said. The inhaler is sold online by Cambridge, Massachusetts- based Breathable Foods Inc. and The Lab Store, in Paris. Democrat Charles Schumer wrote Food and Drug Administration Commissioner Margaret Hamburg today asking her to review the safety and legality of the AeroShot Pure Energy caffeine inhaler, which is set to hit store shelves in New York and Boston next month

Curis earns $6 million milestone payment
Curis, Inc., a Lexington drug development company seeking to develop next generation targeted small molecule drug candidates for cancer treatment, today said that its collaborator Roche has submitted a Marketing Authorization Application for Vismodegib to the European Medicines Agency, triggering a $6 million milestone payment. The Marketing Authorization Application is currently under review for the treatment of adults with advanced basal cell carcinoma for whom surgery is considered inappropriate.

Cheeseboy expands to Rhode Island
Boston’s Cheeseboy: Grilled Cheese to Go, will expand into the Rhode Island market with an opening at the Providence Place Mall today. The new Cheeseboy location will open at the mall’s high-traffic food court, bringing the total number of locations to seven. The company will now operate restaurants in four states: Massachusetts, Rhode Island, New York and Connecticut.

Jordan’s opens Warwick, Rhode Island store
Jordan’s Furniture opened its fifth location in Warwick, Rhode Island with a ribbon cutting ceremony this morning. The 115,000 square foot store joins Macy’s, Target, and JC Penney as anchor tenants at the Warwick Mall and is now open. The location features an entertainment show within the store called SPLASH, which the company claims combines the magic of laser, light, water and music.

WCVB’s Vrees named news director of the year
Broadcast & Cable magazine has named WCVB-TV (Channel 5)’s Andrew Vrees as its news director of the year.

UNO to send 10k pizzas to troops
Boston restaurant chain UNO and non-profit organization Pizzas 4 Patriots are launching a “$5 for $50” fundraiser that will enable 10,000 pizzas to be delivered to U.S. service men and women in Afghanistan on Super Bowl Sunday. During the month of December, guests can purchase a coupon book for $5 and receive $50 in coupon savings. The money raised will go the pizza program.

PatientKeeper raises $6 million
PatientKeeper Inc., a Waltham provider of physician healthcare information systems, today said that it has raised $6 million in capital from its existing investors, including Flybridge Capital Partners, New Enterprise Associates and Whitney & Co. These funds will be used to support continued investment in the company’s suite of advanced clinical, charge capture and other physician-centric applications, as well as the expansion of PatientKeeper’s professional services organization.

Babson Capital Management provides financing for Kohlberg’s investment in hospice provider SouthernCare
Babson Capital Management LLC, an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., today said it provided $22.2 million of debt financing and made an equity co-investment of $2.2 million to support Kohlberg & Company LLC’s acquisition of SouthernCare Inc. Dallas-based SouthernCare, founded in 1994, is a provider of comprehensive hospice care, caring for more than 3,000 terminally ill patients daily at 75 centers in 15 states throughout the Midwest and Southeast.

Akamai to buy Cotendo for $268 million
Akamai Technologies Inc., whose server network lets businesses speed data delivery, agreed to buy Cotendo for about $268 million in cash to expand Internet-based and mobile services. Cotendo, founded in 2008 and based in Sunnyvale, California, has about 100 employees, half of them in Israel, where the company has a technology center. The purchase is Akamai’s second largest after the $2.19 billion acquisition of InterVU Inc. in 2000.

Ameresco receives project acceptance of the Savannah River Site Biomass Cogeneration Facility
Ameresco, Inc., an energy efficiency and renewable energy company headquartered in Framingham, said today that it received its Final Acceptance Certificate from the United States Department of Energy Savannah River Operations Office for the completion of construction of the Savannah River Site Biomass Cogeneration Facility installed under the $795 million energy savings performance contract awarded to Ameresco in May 2009.

State approves $6.7 million in tax breaks to Red Hat, IPG and other firms
A state economic development board today awarded $6.7 million in state tax credits for a half dozen companies that promised to add new jobs.

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