Thursday, June 7th, 2018

Pfizer Dedicates $600 Million to Invest in Biotech and Other Emerging Growth Companies
Company Press Release

The company announced on Wednesday that it plans to invest $600 million towards new companies through Pfizer Ventures, its venture investment unit. It has dedicated 25% of its available capital to early-stage neuroscience companies.

Pfizer also stated that it looks to launch an internal team that leverages expertise across venture capital investing, business development, drug discovery and clinical development.

The fund actively manages an existing investment portfolio of more than 40 companies. Wednesday’s announcement combined with approximately $500 million already invested in the fund brings total assets under management to more than $1 billion.

Athenahealth Searches for a New CEO
Company Press Release

The company announced on Wednesday that Jonathan Bush, the company’s President, CEO and member of its board, will be leaving the company effective immediately.

Athenahealth also stated that its Board of Directors are exploring strategic alternatives such as the consideration of a sale, merger or other transaction involving the Company as well as continuing as an independent company.

Athenahealth provides network-enabled services for hospital and ambulatory customers in the United States. The company’s network is comprised of 114,000 providers and 110 million patients.

Wellness Media Company, Well+Good, Has Been Acquired
Company Press Release

Leaf Group Ltd. announced in a press release on Wednesday that it has acquired Well+Good, a wellness media company.

Well+Good’s outstanding equity interests were purchased for $10 million upfront. Leaf Group has also agreed to pay incremental cash consideration targeted at $9 million when the company achieves certain targets up to the end of the 2020 fiscal year.

Under the acquisition, the brand will expand its audience reach and join forces with

The acquisition looks to strengthen Leaf Group’s position as a leader in the fitness and wellness category.

Fitbit’s CFO Leaves the Company
Company Press Release

Fitbit announced on Wednesday that William Zerella, the company’s Chief Financial Officer will be leaving the company, effective June 15th.

Zerella served as Fitbit’s CFO since June 2014, where he helped lead the company to its IPO. The company stated that he will pursue opportunities with an autonomous vehicle technology startup.

Ronald Kisling, currently serving as the company’s Chief Accounting Officer will replace Zerella where prior to Fitbit, he served as the CFO of Nanometrics, a publicly traded semiconductor equipment company.

Boeing Invests in a Drone Software Company
Boeing Press Release
KittyHawk Press Release

Boeing announced on Wednesday that it has invested in Kittyhawk, a technology startup focused on helping commercial drone operators safely operate unmanned aircraft.

According to a Kittyhawk company blog post, Kittyhawk raised $5M in funding, bringing the company’s total capital raised to $6.5 Million. Bonfire Ventures led the funding round.

The company stated that the new funds will help further its capabilities as a full stack enterprise drone solution to empower a variety of industries already realizing value from commercial drone operations.

Microsoft Tests a Data Center at the Bottom of the Sea
Company News Release

Microsoft announced on Wednesday that it has set up an experimental, shipping-container-sized underwater datacenter on the seafloor near Scotland’s Orkney Islands.

Data centers are the backbone of the internet and the project looks to accommodate exponential growth in demand for cloud computing infrastructure near coastal cities.

The data center is part of a Microsoft research effort called Project Natick, an initiative to see if the company can manufacture and operate environmentally sustainable, prepackaged datacenter units that can operate underwater.

Project Natick is currently in its second phase where Microsoft will spend the next 12 months looking to see if the project is logistically, environmentally and economically practical.