Date:
Fri, September 05, 2008 02:40:42 PMFrom:
Philly.com: Inquirer Business Update
Subject:
Inquirer Business Update: Radnor-based Clarix being acquired for $40M
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Philadelphia Business Today
Top Story
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Radnor-based Clarix LLC, which develops software used to run clinical trials, is being acquired by Massachusetts-based Phase Forward Inc.
BUSINESS BLOGS
The future of Philadelphia’s business community was crowded into an empty retail storefront at 37th and Market streets Thursday.
The space, owned by the Science Center, was unfinished with exposed sea-green drywall. A blank canvas for something new, and thus an appropriate setting as young entrepreneurs made their multimedia pitches to venture capitalists, lawyers, accountants and “angel investors.” Sponsored by the for-profit DreamIt Ventures, this “Funding Day” was the culmination of a three-month boot camp for entrepreneurs.
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Swarthmore grad Jagath Wanninayake and his colleagues get $40M from Phase Forward, Waltham, Mass., for his Radnor web-response tech firm, Clarix LLC.
Today's Inquirer
Comcast Corp. yesterday appealed a precedent-setting Federal Communications Commission enforcement order that extended the regulator's authority to the Internet.
NEW YORK - Dejected investors sent stocks plunging yesterday, with the Dow Jones industrials plummeting more than 340 points after retailers and the government added to a mountain of bad economic news and devastated hopes for a late-year recovery.
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