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Is Boston the new Cambridge for Tech Companies? 04/07/2014

Posted by Morse, Barnes-Brown Pendleton in New Resources, Venture Capital & Private Equity.
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Corporate Attorney Scott BleierBy: Scott Bleier

Blessed with two world-class research universities in Harvard and MIT and the annual parade of newly minted PhD’s and MBAs walking through their doors with dreams of entrepreneurship, Cambridge has long been the epicenter of the technology company/start-up community in the Greater Boston metropolitan area. However, according to recent statistics, the local tech landscape may be changing. CB Insights, a data services firm, recently published a report showing 2013 marked the first time that venture capitalists invested in more companies located in Boston than Cambridge. What does this mean for the local tech community? Read the full article to on our new VCs and Startups blog to find out.

Actifio Secures $100 Million Financing Round 04/01/2014

Posted by Morse, Barnes-Brown Pendleton in Client News, Computer Software & Hardware.
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actifio - Copy Data ManagementOn March 24 MBBP client Actifio announced a $100 million financing round, one of the largest investment deals for a privately held Boston-area technology firm in years. Actifio is an information technology and software company that delivers copy data virtualization to hundreds of global enterprise customers and service provider partners in more than 30 countries around the world. The new funding will be invested in the core IP and new features of its data virtualization platform as well as the continued expansion of Actifio’s market reach and surrounding ecosystem. Ash Ashutosh, CEO of Actifio, was recently quoted in Forbes discussing the financing:

All of last year, the simple focus was in scaling our business. The last three quarters we were figuring out how to scale, and the one factor that was a constraint was speed of time. Now this helps me grow as fast as possible.

Congratulations Actifio!

To learn more about this news, please see full articles in The Boston Globe and Forbes.

USPTO Announces Glossary Pilot Program to Expedite Software Patent Applications 03/28/2014

Posted by Morse, Barnes-Brown Pendleton in Computer Software & Hardware, Intellectual Property.
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Patent Attorney Sean DetweilerBy: Sean Detweiler

The USPTO recently announced the launch of a new pilot program called the Glossary Pilot Program, to run from June 2nd until December 31st.  The program is for software patent applications and requires an applicant to include a glossary section in the patent application specification to define terms used in the patent claims. Applications accepted into this pilot program will receive expedited processing and be placed on an examiner’s special docket prior to the first office action, and will have special status up to issuance of a first office action.  More information on the program can be found at USPTO.

If you wish to participate in this program, please contact Sean D. Detweiler.

Boston Business Journal Revisits Local Biotech IPO’s: “Where are They Now? 03/12/2014

Posted by Morse, Barnes-Brown Pendleton in Life Sciences, Public Companies.
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On March 7, the Boston Business Journal (BBJ) published an article titled “A year of biotech IPOs: Where is their stock price now?” which highlights fourteen local biotech companies that went public last year, ranking them by their stock increase seen since the close of their first day on the market until the March 6 close. A year ago this month, Enanta Pharmaceuticals and Tetraphase Pharmaceuticals, both of Watertown, MA, became the first two Massachusetts biotech firms to go public in what turned out to be the busiest biotech IPO boom in more than a decade.

To see the full list visit the BBJ.

Obtaining Early Biosimilar Patent Certainty in the Aftermath of Sandoz v. Amgen 03/11/2014

Posted by Morse, Barnes-Brown Pendleton in Intellectual Property, Life Sciences.
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Patent Attorney David FazzolareBy: David Fazzolare

In December 2013, the court case of Sandoz v. Amgen became the first instance in which a court has been asked to interpret the patent litigation provisions of the Biologics Price Competition and Innovation Act (the “Biosimilars Act”), the outcome of which may have significant impact on future biosimilar development.

To learn what this means for biosimilar applicants, see the full article.

Please feel free to contact David with any questions on this topic.

FDA Revises Interpretation of 5-year NCE Exclusivity 03/11/2014

Posted by Morse, Barnes-Brown Pendleton in Intellectual Property, Life Sciences.
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Patent Attorney Stan ChalvireBy: Stanley Chalvire

In an effort to incentivize the development of certain fixed-combination drug products, the Food and Drug Administration (FDA) recently issued draft guidance revising its interpretation of the 5-year New Chemical Entity exclusivity provisions of the Federal Food, Drug and Cosmetic Act (FD&C Act).

Sections 505(c)(3)(E) and 505(j)(5)(F) of the FD&C Act provide the holder of an approved New Drug Application with the benefit of limited protection from certain competition (e.g., generic competition) in the marketplace.  In particular, newly approved drug products that contain an active ingredient that has not been previously approved by FDA (a so-called “new chemical entity”) are eligible for 5-years of New Chemical Entity (NCE) exclusivity and, with one exception, during such 5-year exclusivity period, third party applications referencing the newly-approved drug cannot be submitted to FDA.

Fixed-combination drug products are combinations of two or more active ingredients in a single dosage form or drug product.  FDA has historically interpreted the 5-year NCE exclusivity provisions of the FD&C Act such that fixed-combination drug products that contained a previously-approved drug product were not eligible for 5-year NCE exclusivity, irrespective of whether such fixed-combination drug product contained a new chemical entity.

Based on FDA’s recognition of the increasing prevalence of fixed-combination drug products in certain therapeutic areas (e.g., cancer and infectious diseases, such as HIV) and the role that such combination products play in optimizing adherence to dosing regimens and improving patient outcomes, FDA has revised its interpretation of the 5-year NCE exclusivity provisions.  As a result of FDA’s revised interpretation, a 5-year NCE exclusivity determination will be made on the basis of each active ingredient in a drug product, such that a drug product that includes a new chemical entity will be eligible for 5-year NCE exclusivity, regardless of whether that drug substance is approved alone or in a fixed-combination.  FDA is soliciting comments in response to its draft guidance until April 25, 2014.

For more information or to discuss FDA’s new interpretation of the NCE provisions, please contact Stan Chalvire.

Jonathan Gworek Panels ABA Event on Great Hill Equity Partners Case 03/03/2014

Posted by Morse, Barnes-Brown Pendleton in Attorney News, Venture Capital & Private Equity.
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Corporate Attorney Jonathan GworekOn January 27th, MBBP Corporate Partner and Chair of the Private Equity and Venture Capital Committee of the American Bar Association, Jonathan Gworek, moderated a webinar on the implications of the recent Great Hill Equity Partners case. In this case the Delaware Court of Chancery held that under Section 259 of the DGCL, all privileges—including the attorney-client privilege—pass from the acquired corporation to the surviving corporation in a merger.

In October, Jon moderated a similar webinar on the recent In re Trados Inc. Shareholder Litigation opinion, in which the Delaware Court of Chancery found that a sale of the venture backed company was entirely fair notwithstanding the fact that the common stockholders received none of the merger consideration.

Materials from both panel discussions can be found here.

Please feel free to contact Jonathan Gworek with any questions on these topics.

Joe Martinez to Speak At Equity Crowdfunding Symposium 02/24/2014

Posted by Morse, Barnes-Brown Pendleton in Attorney News, Events, Venture Capital & Private Equity.
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Corporate Attorney Joseph MartinezOn Thursday, April 24, MBBP Corporate Attorney Joseph Martinez will sit as a panelist for Quincy College Symposium on Equity Crowdfunding. With the passage of the Jumpstart Our Business Startups (JOBS) Act of 2012, the world of Equity Crowdfunding promises to stir the pot for investors and entrepreneurs alike. Joe will help lead a discussion that focuses on new and traditional sources of business capital including equity crowdfunding, bank loans, government loans, vendors and more.

For more details or to register visit the event page.

Please feel free to contact Joe with any questions on raising capital.

Jonathan Gworek Published in Business Law Today 02/13/2014

Posted by Morse, Barnes-Brown Pendleton in Attorney News, M&A, Venture Capital & Private Equity.
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Corporate Attorney Jonathan GworekMBBP Corporate Attorney and Chair of the Private Equity and Venture Capital Committee of the American Bar AssociationJonathan Gworek, was recently published in the January edition of Business Law Today, a publication by the American Bar Association. Jonathan’s article, “The Threat of Social Media Diligence on the Confidentiality of the M&A Process“, covers the very practical impact of the Internet and “social media diligence” on the confidentiality in M&A transactions and suggests certain practices that the parties might adopt to both mitigate and more fairly allocate this risk.

Visit Business Law Today to read the full article.

For more information on the M&A process, please feel free to contact Jon.

Joseph Marrow to Speak At Boston College 02/11/2014

Posted by Morse, Barnes-Brown Pendleton in Attorney News, Venture Capital & Private Equity.
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Corporate Attorney Joseph MarrowOn Tuesday, February 18th MBBP Corporate Attorney Joseph Marrow will be a guest lecturer for the Carroll Graduate School of Management at Boston College. Joe will be discussing venture capital term sheets for an Entrepreneurial Finance class.

Please feel free to contact Joe with any questions on VC term sheets.

For more information on term sheets visit our resources page.

MBBP Publishes Articles on Data Privacy 11/27/2013

Posted by Morse, Barnes-Brown Pendleton in Games & Interactive Entertainment, Privacy and Data Security, Publishing & Media.
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IP Licensing and Trademark Attorney Faith KasparianMBBP has published two articles on Data Privacy, both written by licensing and intellectual property attorney Faith Kasparian. The first article, FTC’s Recommended Best Practices for Mobile Privacy Disclosures, discusses the Federal Trade Commission‘s report on privacy recommendations for mobile platforms, app developers, advertising networks (other third parties), as well as app developer trade associations including academics, usability experts, and privacy researchers. For the full article, please click here.

Faith’s second article, FTC Finds Privacy Practices Lacking in Mobile Apps for Kids, covers a report released by the FTC which raises concerns with the current lack of privacy practices and disclosures for apps directed toward children. The report also announced the launch of nonpublic investigations to determine compliance with the Children’s Online Privacy Protection Act and the Federal Trade Commission Act. For the full article, please click here.

For more information on either of these topics, please feel free to contact Faith.

MBBP Hosts Goldenseeds Boston Office Hours 11/19/2013

Posted by Morse, Barnes-Brown Pendleton in Venture Capital & Private Equity.
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Golden Seeds On Thursday, November 14th MBBP hosted the first of many Golden Seeds Boston Office Hours in which experienced private investors lead a presentation on the basics of angel funding and the Golden Seeds investment process. Following the presentation, attending entrepreneurs had the ability to meet one-on-one with investors, receiving feedback on their business venture and  answers to questions about the angel investing process.

Golden Seeds is an investment firm that pursues above market returns through the empowerment of women entrepreneurs and the people who invest in them.

To learn more about Boston Office Hours, please visit Golden Seeds.

Giant Otter Co-Founders Interviewed by NECN 10/02/2013

Posted by Morse, Barnes-Brown Pendleton in Client News, Games & Interactive Entertainment.
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Giant Otter TechnologiesOn September 6, New England Cable News (NECN) interviewed MBBP client Giant Otter Technologies, a start-up that builds simulations to teach social and communication skills using crowdsourced artificial intelligence. Giant Otter is a finalist for MassChallenge, a four month accelerator program, and is in the running to receive the $100,000 grand prize. NECN interviewed Giant Otter co-founders Geoff Marietta and Dr. Jeff Orkin on MassChallenge and their lead product, School Life.
Click the image below to watch the full interview:

GiantOtter video

Scott Bleier to Present at TechSandBox Workshop 08/07/2013

Posted by Morse, Barnes-Brown Pendleton in Attorney News, Events, Venture Capital & Private Equity.
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Corporate Attorney Scott BleierOn August 20th MBBP Corporate Attorney Scott Bleier will co-present at a TechSandBox Pail and Shovel Workshop, What’s It Worth; Valuations, Term Sheets and Partnerships. This two-hour workshop is for Founders and Business Owners who are preparing for outside funding or acquisition.

Please visit TechSandBox to register for this event.

Caffeinate Labs Product Named One of Massachusetts Biggest Kickstarter Campaigns 08/02/2013

Posted by Morse, Barnes-Brown Pendleton in Client News, Venture Capital & Private Equity.
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Caffeinate LabsBoston.com recently published its list of Massachusetts’ Biggest Kickstarter Campaigns with MBBP client Caffeinate Labs product, Pocket Monkey, reaching number 8. Pocket Monkey is a wallet utility tool the size of a credit card and one-millimeter-thick that can act as a bottle opener, a door-latch slip, ruler, letter-opener, and orange-peeler. It also has three screwdrivers and works as a wrench for three bolt sizes.  Caffeinate Labs received 1,921 backers and raised $27,550 of a $4,500 goal.

Congratulations Caffeinate Labs!

Please visit Caffeinate Lab’s website for more information.

Massachusetts Life Sciences Center Accepting Applications for Tax Incentive Program 07/29/2013

Posted by Morse, Barnes-Brown Pendleton in Life Sciences.
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Massachusetts Life Sciences Center On July 23rd the Massachusetts Life Sciences Center (MLSC) announced that its 2013 Life Sciences Tax Incentive Program is now open. The Life Sciences Initiative authorizes the MLSC to award up to $25 million in tax incentives each year to qualified companies in an effort to expand life sciences-related employment opportunities, promote health-related innovations and stimulate research and development, manufacturing and commercialization in the life sciences. Applicants are generally companies that have transitioned or are transitioning from pure life sciences R&D to commercialization and manufacturing.

This is the fifth year that incentives will be provided under the program. Nearly 50 companies have active tax incentive awards totaling more than $75 million awarded during the past four program years. Those companies created a total of more than 1,800 jobs after receiving their tax incentives.

To be considered for tax incentives, please submit your application online via the MLSC’s website by October 24, 2013, at noon EDT. If you would like to learn more about this program, please visit the Mass Life Sciences Center.

Not Quite Private, Private Placements — SEC Lifts Ban on General Solicitations 07/26/2013

Posted by Morse, Barnes-Brown Pendleton in Corporate, Venture Capital & Private Equity.
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Corporate Attorney Joseph MartinezMBBP Corporate Attorney Joe Martinez just published a new article: Not Quite Private, Private Placements — SEC Lifts Ban on General Solicitations. As part of the implementation of the JOBS Act, the Securities and Exchange Commission (the SEC) has lifted an 80-year ban that previously prevented companies from using any form of “general solicitation” to attract investors. The revised rules will go into effect later this year after the expiration of a 60-day waiting period and the changes will allow companies to advertise about certain types of private offerings of debt and equity securities.

To read the full article, visit our resources page.

Joe Martinez Quoted in MedCity News Article on Advertising Fundraising 07/23/2013

Posted by Morse, Barnes-Brown Pendleton in Attorney News, Corporate, Venture Capital & Private Equity.
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Corporate Attorney Joseph MartinezOn July 15 MedCity News published an article titled “‘Can’ doesn’t always mean ‘should’ when it comes to the SEC’s new rules for advertising fundraising“. The article explains that the Securities and Exchange Commission recently voted to adopt a piece of the JOBS Act which would remove a ban on general advertising for private securities. One of the biggest changes companies will face as a result of this new rule is they will be required to take reasonable steps to ensure that their investors are in fact accredited — that they have a net worth of more than $1 million (excluding their homes) or have a salary higher than $200,000. MBBP Corporate Attorney Joe Martinez believes this may be a drawback:

This type of an inquiry is much more intrusive than has been typical for angel investors in the past. I think it could scare away both experienced angel investors and folks new to the game. It also could add a bit more overhead to the financing process.

For more information please see the full article here.

Giant Otter Technologies an “Online Game Changer” 07/16/2013

Posted by Morse, Barnes-Brown Pendleton in Client News, Games & Interactive Entertainment.
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MBBP client, and MassChallenge finalist, Giant Otter Technologies was touted as an “online game changer” in the Boston Herald and we agree!

Giant Otter Technologies creates data-driven improvisational role-playing virtual simulations that can help change behaviors and improve relationships. In short, their online games aim to teach people social skills and better human interactions.

Their first project is developing a three-dimensional, online anti-bullying game in which middle and high school students will play the role of the victim or bystander and ultimately learn to empathize. Future projects will tackle other challenging situations such as teaching the military cultural interaction skills, allowing sales people to practice with virtual customers, teaching doctors to improve their communication with patients and training managers to lead their staffs.

Keep up the good work, Giant Otter!

Jon Gworek added to NextView Ventures Go-To Startup Service Provider List 07/10/2013

Posted by Morse, Barnes-Brown Pendleton in Attorney News, Venture Capital & Private Equity.
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Corporate Attorney Jonathan GworekOn July 9th, MBBP client NextView Ventures published its List of Go-To Early-Stage Service Providers in its Boston Portfolio. NextView surveyed its Boston-based portfolio Founder/CEOs asking which service provider firms they prefer in categories such as corporate legal counsel, recruiters, financial matters, and payroll. Corporate Attorney Jonathan Gworek was selected as a top corporate legal counsel to Boston-area startups surveyed. Congratulations Jon!

Please visit NextView Ventures blog, GenuineVC, for the full article.

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