Oct. 21, 2011
BOSTON — A Boston-area tech company is involved in one of the most ambitious federal projects of our time. Security Innovation, based in Wilmington, makes the software behind what could be the nation’s first wireless collision avoidance system for cars. A pilot study of 3,000 cars is rolling out next year. Eventually, all cars made in the U.S. could be required to have the technology.
In other innovation news:
Boston-based Third Rock Ventures put $35 million behind a new company, Sage Therapeutics, that aims to develop a novel class of drugs for schizophrenia, depression, and other brain disorders.
Cambridge-based Vertex Pharmaceuticals is seeking FDA approval for a drug that would offer a new way of treating cystic fibrosis.
Finally, two deals this week continue a recent trend of Boston-area tech companies being bought out by West Coast giants. Endeca Technologies, an enterprise search company in Cambridge, is being acquired by Oracle for an undisclosed sum. Boxborough-based BNI Video, a startup that makes Internet software for cable companies, is being snapped up by Cisco for $99 million.
The weekly roundup of business, technology and life science news from our partners at Xconomy.com airs every Friday on WGBH 89.7 Boston Public Radio.