Tue. Sep. 27, 2011 Theracrine appoints new CEO
Theracrine Inc., a Cambridge biopharmaceutical company, announced the appointment of Steven Kelly as president and chief executive. Theracrine is focused on developing drugs that stop cancer from spreading. According to Theracrine, cancer spread is responsible for 90 percent of cancer-related deaths. The company was founded in 2010 by Flagship VentureLabs and cancer researchers. MIT endowment reports 17.9 percent gain
The endowment for the Massachusetts Institute of Technology generated a market return of 17.9 percent during the fiscal year that ended June 30, the Massachusetts Institute of Technology Investment Management Co. said today. The market value of the endowment at the end of the fiscal year was $9.9 billion. Last week, Harvard University reported that its endowment earned 21.4 percent on its investments for the year ended June 30, roughly in line with the financial performance of other large funds. Restoration Hardware signs lease for old LouisBoston space near Newbury Street
Restoration Hardware, a California chain that sells luxury furniture and home decor, said it has signed a lease for the landmark building at 234 Berkeley St. in Boston, once home to the swank LouisBoston clothing store. The site is located between Boylston and Newbury streets. The building has a neoclassical façade and was designed in the French Academic style by architect William G. Preston. It was built in 1863, and it was the long-time home of the New England Museum of Natural History. Last year, LouisBoston relocated to the South Boston Waterfront. Comcast survey: ‘Smart’ office buildings better at luring tenants
Forget gyms and cafeterias --- a Comcast survey of office building owners found that offering advanced communications services is a top selling point when it comes to attracting and retaining tenants. Tenants want “smart” office space that is technologically advanced and offers access to such services as Metro Ethernet and broadband Internet, the survey found. Only price, parking, and location ranked ahead of advanced communications services on a list of desirable office building features, the Comcast survey concluded. Mass. home sales rise 15 percent
The number of Massachusetts single-family homes sold in August rose 15 percent from the same month a year ago, and condo sales also increased, the first time this year both property types posted an increase during the same month, the Warren Group reported this morning. But the Warren Group cautioned against over-reacting. For much of 2010, a federal tax credit was in effect that looked to give home buyers an incentive to jump into the market. That credit has since expired. ikaSystems has a new chief executive
Southborough’s ikaSystems, which provides cloud-computing software that is designed to make health plans more efficient, is promoting company president Joseph Marabito to chief executive. He succeeds company founder Ravi Ika, who is becoming the executive chairman of the ikaSystems board. A 25-year veteran of the health care industry, Marabito joined ikaSystems earlier this year. According to Ika, the company is experiencing rapid growth, adding more than 100 new staffers this year. Hancock will run ‘Who Knew’ ad campaign through December
Boston-based John Hancock Funds said it is extending its “Who Knew” advertising campaign through the end of the year. Featuring ads on TV, in print, and online, the campaign launched in February and was originally scheduled to run for six months, the company said. John Hancock has long engaged in brand advertising, but the “Who Knew” initiative is the first time that ads have focused specifically on the firm’s mutual funds. The campaign was created by Hancock’s long-time ad agency, Hill Holliday of Boston. RXi splits into two public companies
Worcester-based RXi Pharmaceuticals will split into two publicly traded companies. The first, called Galena Biopharma, will focus on developing targeted cancer therapies and will be headquartered in Portland, Ore. RXi will be spun off later this year and will continue to work on RNAi-based therapeutics --- the company’s original mission. RXi was founded around the work of Craig Mello, a professor of molecular medicine at the University of Massachusetts Medical School, and a Nobel Prize winner for his work in RNA interference. Greater New England Minority Supplier Development Council announces merger
Two local organizations that help minority-owned businesses have agreed to merge. The organizations are the Initiative for a New Economy and the Greater New England Minority Supplier Development Council. The merger is expected to be completed later this year. Plans call for council chief executive Fred McKinney to head the merged organization. The council recently received a $1.4 million grant from the US Department of Commerce to launch the Boston Business Center. Mass. gas prices drop 7 cents a gallon
The average price of gas in Massachusetts is $3.559 a gallon in the latest weekly survey from AAA, down 7 cents from the previous week’s average, AAA Southern New England said this morning. Local gas prices have now fallen 10 cents a gallon over the last two weeks. The national average for a gallon of gas is $3.49. A year ago at this time, the Massachusetts average price was $2.59 a gallon. The national average price for gas is $3.49. MassHousing closes loan for Lowell apartment complex
MassHousing, the state’s affordable housing bank, said that it has closed a $45 million loan for the acquisition and the preservation of the Westminster Village Arms apartments in Lowell. The buyer is Westminster Preservation LP, an affiliate of the Related Cos., MassHousing said. Of the 432 apartments, 400 are subsidized by a Section 8 Housing Assistance Payment contract, which was due to expire next May. As part of this financing, the owner secured a 20-year renewal and extension of the Section 8 contract. | 
No comments:
Post a Comment