Columbus
Boston Business Journal
Desktop Metal to be acquired for up to $183M
Desktop Metal in Burlington is getting acquired by Nano Dimension Ltd., a manufacturer with U.S. headquarters in Waltham. <\p> Announced Wednesday, the 3D printing deal has a price tag of $183 million in cash and is expected to close in the fourth quarter of 2024. <\p>
BankFive renovates headquarters to implement AI capabilities
A Massachusetts-based bank has partnered with a leading tech company to revamp its headquarters using artificial intelligence.<\p> BankFive is working with NWN Carousel to design and implement integrated technology solutions to create an “ultra-modern” banking experience. <\p>
Mass. biotechs cut over 1,800 jobs in Q2 of 2024
While first-quarter 2024 may have provided hope that biotech layoffs were slowing down, the last three months changed that narrative. Twelve biotechs announced plans to cut over 1,810 jobs in the second quarter. That’s up from the roughly 330 Boston-area employees at 14 life science companies who lost their jobs in the first quarter of 2024.<\p> The majority of the more recent job cuts came from Takeda Pharmaceuticals Inc., Amylyx Pharmaceuticals Inc. and Ginkgo Bioworks. (The number of layoffs is also likely an undercount, as some Boston-area biotechs declined to provide specific information on job cuts.) <\p>
Local biotech working on gene therapies to cure blindness lands $170M
Last year wasn’t ideal for fundraising in the biotech ecosystem as investors were wary to part with capital in a more challenging economic market. Beacon Therapeutics decided to bide its time, waiting for the right moment to bring in a new financing round. <\p> The company’s patience appears to have paid off.<\p>
Bob’s Stores to close all six Mass. locations
Bob’s Stores, a New England retailer that outlasted big-box peers such as Bradlees, Ames, Lechmere and Christmas Tree Shops, has now met the same end as all those other names from a different era in brick-and-mortar retail.<\p> Bob’s, which got its start in Connecticut in 1954 before expanding across the Northeast, will close all six Massachusetts of its locations:<\p>
MLK's daughter to lead new legal institute for minority businesses
Bernice A. King, a nationally-recognized civil rights advocate who is Martin Luther King Jr.'s daughter, has been named the honorary chair of a new arm of the New England Legal Foundation.<\p> King will head the Equalizer Institute, a segment of the public facing nonprofit hoping to bridge the gap between entrepreneurs from minority communities and the law to kickstart more successful businesses. The institute is envisioned as a new type of business law tool, and will use AI to crowdsource and match minority-owned businesses to legal experts, dating app style. <\p>
After considering a move, Vertex to stay at Fan Pier HQ
Vertex Pharmaceuticals plans to stay in its headquarters on Fan Pier in the Seaport District after considering moving elsewhere in the neighborhood, according to several real estate sources familiar with the decision.<\p> The state's most valuable locally based life science company (Nasdaq: VRTX) has decided to renew its leases at 11 Fan Pier Blvd. and 50 Northern Ave., where it occupies more than 1 million square feet, sources said. A Vertex spokesperson declined comment.<\p>
Avangrid's New England Wind gains construction permit
Avangrid Inc. (NYSE: AGR) has gained a federal Construction and Operations Plan (COP) for its two-phased New England Wind project. <\p> The building permit is the final major approval Avangrid needs to begin construction of New England Wind 1, a proposed 791-megawatt offshore wind project that would go up off the coast of Massachusetts. The company said Monday it expects a final “letter of authorization” from the National Marine Fisheries Service by the end of July. <\p>
As bird flu spreads in U.S., feds award Moderna $176M for vaccine
Moderna Inc. has landed government funding for late-stage development of its mRNA-based pandemic influenza vaccines.<\p> The Cambridge drugmaker said it was given $176 million through a project award from the U.S. Department of Health and Human Services on Tuesday.<\p>
Celtics co-owner Pagliuca plans to bid to keep team ownership
After the ownership group of the Boston Celtics announced it is selling the NBA franchise, one co-owner is looking to throw his hat in the ring of potential buyers. <\p> Steve Pagliuca, managing partner of the Celtics and member of the Boston Basketball Partners executive committee, said he hopes to continue his involvement with the organization despite the decision to sell. <\p>
Mass General Brigham's Home Care nurses vote to unionize
Mass General Brigham Home Care nurses have voted to unionize and join the Massachusetts Nurses Association, the state’s largest union of registered nurses. <\p> The nurses and healthcare professionals at MGB Home Care provide nursing care, occupational and physical therapy, and speech language pathology. Some 436 healthcare professionals are employed by the home care arm.<\p>
Among small businesses, there's a huge divide on finances
The smallest businesses are the ones most likely to be struggling, as larger small businesses report better conditions.<\p> The latest data from the Federal Reserve’s Small Business Credit Survey — released earlier this year but since followed up with a more detailed breakdown by size and demographics — shows how, even within the realm of small businesses, there is wide variation.<\p>
Activists gear up for House climate bill
Climate activists are champing at the bit for the House's climate and energy bill, some of them expecting that it could be released next week.<\p> Dan Zackin, legislative coordinator of 350 Mass, gave a legislative update to a webinar hosted by Massachusetts Climate Action Network on Monday, filling in activists from around Massachusetts on the status of the package of climate legislation that top legislators say they intend to get to Gov. Maura Healey's desk this month. <\p>
Five things you need to know, and a classic film in an iconic venue
Good morning, Boston. It’s sports galore this week: Wimbledon, Tour de France, and of course Euro and Copa America soccer is still going on. What’s a sports fan to do? How about focus on just five things you need to know in Boston business news?<\p> Hannah Green reports that a Waltham biotech is axing most of its workforce just weeks after shutting down its late-stage trial in pulmonary arterial hypertension in June.<\p>
Boston Business Journal
7K+
Posts
933K+
Views
The Boston region's source for local business news, breaking news alerts, newsletters, business intelligence and local business networking. An American City Business Journals publication.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.