The Latest in Financial & Business News

AbbVie is buying ImmunoGen in a deal valued at about $10.1 billion with the goal of speeding the pharmaceutical's entry into the market for ovarian cancer treatments.

AbbVie strikes deal to acquire Waltham’s ImmunoGen for more than $10 billion

It’s the largest acquisition of a Massachusetts company this year.

Generation Bio cuts its payroll by 40 percent in latest restructuring move
The Cambridge biotech startup is seeking to extend its cash into 2027.

Evelo Biosciences, a microbiome company launched by Flagship, shuts down
The Cambridge biotech is ceasing operations after running low on cash and seeing multiple drug trial failures.

Merck buys small Cambridge biotech for up to $610 million
Caraway Therapeutics is developing medicines to treat conditions such as Parkinson’s disease, ALS, and rare kidney diseases.

Flagship Pioneering launches new biotech with Mass., UK offices
Quotient Therapeutics, which will have offices in Mass. and the United Kingdom, wants to develop drugs that target illnesses caused by genetic changes that occur as people age.

Vertex sickle cell drug, based on novel gene-editing technology, wins approval in UK
The go-ahead comes about two weeks before the FDA is set to determine whether CRISPR and Boston-based Vertex can market the same drug in the United States, a much larger market.

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More Life Sciences Headlines

Geoffrey von Maltzahn, co-founder and chief executive of Quotient Therapeutics

Flagship Pioneering launches new biotech with Mass., UK offices

Quotient Therapeutics, which will have offices in Mass. and the United Kingdom, wants to develop drugs that target illnesses caused by genetic changes that occur as people age. 6:00 a.m.

Vertex Pharmaceuticals and CRISPR Therapeutics won approval in the United Kingdom for drug to treat sickle cell disease. The drug is based on a novel gene-editing technology.

Vertex sickle cell drug, based on novel gene-editing technology, wins approval in UK

The go-ahead comes about two weeks before the FDA is set to determine whether CRISPR and Boston-based Vertex can market the same drug in the United States, a much larger market. 10:38 a.m.

(From left to right): Harvey Lodish, cofounder of Genzyme; Rodolfo Rohr, CEO of LarmorBio; and Bob Coughlin, a managing director for life sciences at commercial real estate firm JLL, had a discussion during lunch at Catalyst in Kendall Square.

The ‘bump factor’ returns to Kendall Square

Random meetings in the compact hub help to fuel the local biotech cluster — at least on Tuesdays through Thursdays. 9:42 a.m.

A view of Cambridge looking toward Kendall Square. Theseus Pharmaceuticals is the latest biopharma firm in Massachusetts to slash its workforce in a prolonged industrywide shakeout.

Theseus lays off almost three-fourths of its staff

The Cambridge biotech is the latest biopharma firm in Massachusetts to slash its workforce in a prolonged industrywide shakeout that followed years of exuberant investment and growth. 3:59 p.m.

EMD Serono is moving its headquarters from Rockland to the Seaport District, joining a growing biotech cluster.

EMD Serono headquarters plans to join biopharma cluster in Boston’s Seaport

The company will join more than two dozen life sciences companies, including Vertex and Eli Lilly, in the neighborhood. 12:33 p.m.

A view of the life sciences building being constructed at 66 Galen Street in Watertown on Sept. 21, 2022. As vacancy rates in the area's lab space continue to rise, Watertown may be well suited for a recovery down the line, said Jeffrey Myers, a research director at real estate firm Colliers.

Vacancy in Boston-area lab space climbs to 10-year high

A wave of projects that launched construction a few years ago when inventory was tight are now opening into a market that suddenly has little need for them. 4:12 p.m.

kara miller | the big idea

Passengers waited for a Red Line train to roll to a stop in the Kendall station.

‘You can’t cure cancer when you’re sitting in traffic’: The MBTA poses a problem for Mass. competitiveness

For a state itching to herald its technological prowess, workers’ inability to quickly get to offices, labs, hospitals, and universities has become an issue of competitiveness. 8:16 a.m.

Dr. Lisa Menninger was awarded a $24 million judgment in her lawsuit against her former employer, PPD (now owned by Thermo Fisher).

Judge upholds $24 million verdict against Thermo Fisher subsidiary that discriminated against worker with anxiety

US District Court Judge Leo T. Sorokin acknowledged that the sum was “remarkable” but said he had no reason to question it. 5:38 a.m.