Wednesday, November 3, 2010

Daily Business Update from the Boston Globe

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Wednesday, November 3, 2010

Alnylam, Medtronic working with CHDI Foundation
Alnylam Pharmaceuticals Inc., a Cambridge company that looks to RNA interference technology to develop new drugs, said it has joined a new collaboration that aims to advance a treatment for Huntington's disease.

Fund supported by Citi unveils small business loans
A fund for small business lending that was established by Citi announced the approval of $60 million in loans, including $8.3 million in assistance for the Boston Community Loan Fund and the Cooperative Fund of New England.

Panera has expansion plans for New England
Panera Bread Co., which just officially opened a new restaurant in Newton, has ambitious expansion plans for New England, company executive chairman Ron Shaich said.

Biogen Idec to cut 650 jobs, including 86 in Mass.
Biogen Idec, a Weston company known for its multiple sclerosis drugs, said it will reduce its workforce by 13 percent as part of cost-cutting efforts that aim to to realize annual savings of $300 million.

Dunkin’ unveils portable pancake combo
Dunkin' Donuts said it is now offering "Pancake Bites," which are described as "portable, bite-sized sausage links wrapped in a maple flavored pancake."

Karyopharm closes $20m Series A financing
Karyopharm Therapeutics Inc said it has completed a $20 million Series A financing.

Robotics firm opens local office
Aldebaran Robotics said that it has incorporated in the United States and has established its North American headquarters in Cambridge.

Tuesday, November 2, 2010

Oracle to buy Cambridge software firm ATG for $1b
Giant business software maker Oracle Corp. will pay $1 billion to acquire Art Technology Group Inc. of Cambridge, a major producer of the software used by retailers to power their online sales.

Citizens Bank to add new fees
Citizens Bank, the second largest retail bank in Massachusetts, plans to add several new fees, including a monthly maintenance fee for one of its most popular checking accounts.

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