Monday, February 25, 2013

Daily Business Update

 
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EDITORIAL EMAIL PUBLISHED BY   Boston.com
Daily Business Update Mon. Feb. 25, 2013
 
Amtrak launches new ad campaign for Acela business travel
Amtrak said Monday that it is launching a new advertising campaign called “Take Off” to promote its premium business class that is available for travel between Boston, New York and Washington, D.C. The campaign suggests that a business traveler can be far more productive and comfortable on Amtrak’s Acela train than on an airlines flight.
Massachusetts gas prices rise 4 cents a gallon, AAA says
The average price for gas in Massachusetts is $3.769 a gallon in the latest weekly AAA survey, up 4 cents from the previous week’s average, AAA Southern New England said Monday. Local prices are up 31 cents over the last month, AAA Southern New England added. The current national average for gas is $3.77. A year ago at this time, the Massachusetts average price was $3.68.
Avid postpones its 4Q earnings release
Avid Technology Inc., a Burlington company that makes equipment for the editing and processing of music and video, announced Monday that it is postponing its fourth quarter 2012 earnings release and investor conference call, previously scheduled for Tuesday, to “provide additional time for the company to evaluate its current and historical accounting treatment related to bug fixes, upgrades, and enhancements to certain products which the company has provided to certain customers.”
Cubist announces exclusive option to buy Adynxx
Cubist Pharmaceuticals Inc., a Lexington company best known for its flagship drug, the antibiotic Cubicin, said Monday that it has an exclusive option to acquire Adynxx, a San Francisco company testing a pain-management drug. Adynxx’s lead product candidate is currently designated as AYX1, and it seeks to reduce pain following surgery.
Bain Capital Ventures leads $10m funding round for Canadian software firm
Bain Capital Ventures of Boston led a $10 million funding round for a Canadian company whose software helps its customers to capitalize on cloud services, mobility, and Internet video. The company is called BTI Systems, and when the new funding is included, BTI said it has raised more than $33 million since the first quarter of 2011. Besides Bain Capital Ventures, the new funding round included existing investors BDC, Covington Capital, and GrowthWorks.
EMD Serono reports disappointing results for cancer drug test
EMD Serono Inc., a Rockland-based subsidiary of the German pharmaceutical company Merck KGaA, reported disappointing results for an experimental cancer drug. In partnership with the European Organization for Research and Treatment of Cancer, EMD Serono was testing cilengitide as a component of a cancer approach that included another drug called temozolomide and radiotherapy. The overall approach was called Centric. The Centric test involved more than 500 patients with newly diagnosed glioblastoma and methylated MGMT gene promoter status.
Former Globe executive in talks with Times Co. about sale
Rick Daniels, a former Boston Globe executive who most recently was president of Gatehouse Media, and Boston private equity investor Heb Ryan have been in discussions with the Times Co. and last month submitted a bid of about $100 million to buy The Boston Globe, according to a person with knowledge of the matter. The bid included some pension liabilities, according to the person, who spoke on condition of anonymity because he was not authorized to discuss it publicly.
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