Such opportunistic investing is often a precursor to merger-and-acquisition activity, as private fund managers have in the past pocketed quick money from the bidding wars and high-stakes negotiations that affect attractive takeover candidates.
Indeed, local investment bankers say the biotech sector is ripe for the picking, as the industry's thinning drug pipeline and a falling U. He said deal volume among smaller biotechs will be particularly heavy, as access to capital has tightened in recent months. Investors have made their presence felt locally, although their profit strategies often differ.
For example, Harvard Bioscience Inc. The back-and-forth has persisted for months, with Harvard Bioscience's board landing the most recent blow with a rejection of Skystone's December bid to acquire all of the Holliston company's shares. As of Dec. Kerry Nelson, Skystone's managing principal, and Harvard Bioscience did not return calls for comment.
At Matritech Inc. The company last year saw around 3 percent of its shares acquired by ProMed Management Inc. In a regulatory filing, Matritech said ProMed principal David Musket was part of a special committee that lined up the sale to Inverness.
Calls to ProMed and Inverness were not returned. Billionaire Carl Icahn tried a similar, albeit more aggressive, strategy last year by accumulating a hefty position in Biogen Idec Inc. The New York investor also sent a shot across the bow of Genzyme Corp. Genzyme's management responded by meeting with shareholders to reaffirm the company's strength as a stand-alone entity.
Icahn subsequently dumped his shares a few weeks later. Both Biogen and Genzyme remain independently owned today. Some investors have been content to simply pick low-hanging fruit, while others have kept their intentions well shrouded.
A Synta spokesman said Caxton holds a Synta board seat and has voiced no activist intentions to date. A similar scenario exists at Repligen Corp. While the investigation is ongoing, we are available to offer his family support and connect them to community resources through our victim witness assistance program. State police said Jones had gone for a run earlier that day, and the incident apparently happened during his run.
They said there was a wire fence blocking access to the bottom of the staircase and a chain link fence and a jersey barrier blocking the top entrance. Skip to content. In-depth news coverage of the Greater Boston Area.
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