Cadillac is expected to award its advertising account to a team of ad agencies that includes Hill Holliday of Boston, trade journals are reporting. A story in Ad Age cited unnamed executives “familiar with the matter” in reporting that Cadillac is poised to shift its creative account from from Publicis Groupe’s Fallon in Minneapolis to a team of agencies at Interpublic Group of Cos. Interpublic is the parent company of Hill Holliday and agencies Campbell-Ewald and Lowe --- the three agencies expected to work on the Cadillac account in the future. Hill Holliday declined comment. Winning a piece of the Cadillac account would be the agency’s first big victory under Karen Kaplan, the agency veteran who took over as Hill Holliday’s chief executive last month. Before Tim Tebow even had a number on the New England Patriots roster, his jersey was already selling online at the team’s pro shop for $99.95. Agios Pharmaceuticals Inc. is the latest Massachusetts biotechnology company to explore an initial public stock offering this year. In a regulatory documents, Cambridge-based Agios said it is planning to move forward with an IPO. According to an estimate by the Reuters news service, the company could raise up to $86 million in an initial public offering of common stock. Agios looks to use its expertise in cellular metabolism to develop treatments for cancer. In 2012, Agios reported revenue of about $25 million and a net loss applicable to common shareholders of about $27.3 million. IPOs for biotech companies seem to be heating up. Two weeks ago, shares of Cambridge biotechnology company Epizyme Inc. soared by more than 50 percent on their first day of trading. SageCloud Inc., a Boston company that is designing storage systems that aim to reduce the costs of data storage, said Tuesday that it has has completed a $10 Million Series B financing, which will be used to accelerate deployment and expand operations. Braemar Energy Ventures led the round and was joined by existing investor Matrix Partners, the company said in a press release. SageCloud has now raised $13.2 million to date, a company spokeswoman added. SageCloud has a focus on so-called “cold data” --- data that are written once and infrequently accessed. Industry analysts have estimated that as much as 80 percent of data growth falls under the definition of cold data, the company noted. According to SageCloud, it is “revolutionizing the economics of data storage.” Rockland Trust, a commercial bank founded in 1907, is opening its first Boston office. The bank is leasing about 5,000 square feet of space at 101 Arch St., said a broker involved in the transaction. The broker is CBRE/New England, which represented the building’s owner, the real estate investment management firm Clarion Partners of New York, in lease negotiations. CBRE/New England’s press release included a statement from Rockland Trust CEO Chris Oddleifson, who said: “We are very excited about our entrée into Boston in such a prominent location. While we’ve served the Boston market for decades, this marks our first physical presence, and we will have seasoned investment management and commercial lending team members at 101 Arch St. as we continue to strategically invest in the growth of our franchise.” A day after saying US regulators rejected their kidney cancer drug application and faulted their clinical results as “unintepretable,” Aveo Pharmaceuticals Inc. executives Tuesday defended their program and said they still believe their experimental drug can effectively treat kidney cancer. In a conference call with industry analysts, executives of the Cambridge biotechnology company insisted they had been transparent throughout their dealings with the Food and Drug Administration. Even when FDA regulators had suggested another study, Aveo executives argued, they did not say approval of tivozanib -- the company’s drug to treat renal cell carcinoma -- would hinge on that study. “We are still disappointed that the FDA did not approve our application,” Aveo CEO Tuan Ha-Ngoc said. “Overall, we think this is a loss for patients who would have benefitted from tivozanib. The Fresh Market Inc., a North Carolina-based of about 130 grocery stores, is the latest food-industry company to team up with the New England Aquarium to promote sustainable fishing practices and responsible aquaculture. The Fresh Market said it will work with the aquarium to ensure that its seafood suppliers utilize responsible fishing and farming methods that maintain and preserve the ocean’s ecosystem. For about a decade, the Boston-based aquarium has operated its Sustainable Seafood Advisory Services unit as a fee-for-service consultancy. The consultancy advises companies in the food industry on issues regarding environmentally responsible seafood and facilitates proactive changes along their supply chains to favor marine conservation. Aquarium partners on this program include Darden, which operates several restaurant chains including Red Lobster, and Ahold USA, whose supermarket chains include Stop & Shop. |
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