Hartford Business Journal

July 12, 2021

Issue link: https://nebusinessmedia.uberflip.com/i/1390514

Contents of this Issue

Navigation

Page 1 of 31

2 HARTFORDBUSINESS.COM | JULY 12, 2021 Biz Briefs HartfordBusiness.com | (860) 236-9998 Editorial Greg Bordonaro | Editor, ext. 139, gbordonaro@hartfordbusiness.com Matt Pilon | News Editor, ext. 143, mpilon@hartfordbusiness.com Beats: Real Estate/Economic Development, Banking & Finance and Government Liese Klein | Staff Writer, ext. 127, lklein@hartfordbusiness.com Beats: Health Care, Bioscience and Government Sean Teehan | Staff Writer, ext. 145, steehan@hartfordbusiness.com Beats: Manufacturing, Startups & Entrepreneurs, Technology, Higher Education and Transportation Zachary Vasile | Web Editor, ext. 128 zvasile@hartfordbusiness.com Beat: Energy Tim Doyle | Lead Researcher Heide Martin | Research Assistant Steve Laschever | Photographer Business Tom Curtin | Publisher, ext. 124, tcurtin@hartfordbusiness.com Christina Zuraw | Events Coordinator, ext. 134, czuraw@hartfordbusiness.com David Hartley | Senior Accounts Manager, ext. 130, dhartley@HartfordBusiness.com Daniel Schilke | Senior Accounts Manager, ext. 135, dschilke@HartfordBusiness.com Valerie Clark | Director of Audience Development, ext. 332 Jill Coran | Human Resources Manager Megan Mason | Operations Assistant, mmason@hartfordbusiness.com Production Christie Novotny | Production Director, ext. 147 cnovotny@hartfordbusiness.com Peter Stanton | CEO, pstanton@nebusinessmedia.com Tom Curtin | President, ext. 124, tcurtin@hartfordbusiness.com Mary Rogers | COO/CFO, mrogers@nebusinessmedia.com Joe Zwiebel | Founding Publisher Subscriptions Annual subscriptions are $96.00. To subscribe, visit HartfordBusiness.com, email hartfordbusiness@ cambeywest.com, or call (845) 267-3008. Advertising For advertising information, please call (860) 236-9998. Please address all correspondence to: Hartford Business Journal, 100 Allyn Street, Suite 3, Hartford, CT 06103 Stay Connected For breaking and daily Greater Hartford business news go to: www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln:www.linkedin.com/company/the-Hartford- Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend: www. hartfordbusiness.com/enewsletters Hartford Business Journal (ISSN 1083-5245) is published bi-weekly, 27x per year — including two special issues in November and December — by New England Business Media, LLC, 100 Allyn Street, Suite 3, Hartford, CT 06103. Periodicals postage paid at Hartford, CT and at additional entry points. Tel: (860) 236-9998 | Fax: (860) 570-2493 Copyright 2020. All rights reserved. Postmaster: Please send address changes to: Hartford Business Journal P.O Box 330 Congers, NY 10920-9894 A newly-released study lays out a $500 million vision to add 1,200 apartments/townhomes and more than 60,000 square feet of retail/commercial space to a sea of parking lots in a key area just south of Hartford's downtown. The study of the so-called Bushnell South area, produced by Boston- based architecture and planning firm Goody Clancy and presented during a recent public meeting at the the Bushnell Center for the Performing Arts, recommends that rental and for- sale townhomes be the key economic driver for the approximately 20-acre site bordered by Capitol Avenue and Elm, Trinity and Main streets. The report was commissioned by a public-private partnership that includes the Capital Region Development Authority, the Bushnell Center for the Performing Arts and 55 Elm St. developer Spinnaker Real Estate Partners. Ben Carlson, director of urban design at Goody Clancy, said his team's recommendations prioritized making the Bushnell South an attractive investment opportunity for private capital, since an estimated $400 million would be needed to achieve its vision. That would potentially be supplemented by $100 million in public funding and incentives. An aerial rendering of the vision for Bushnell South, which today is mainly parking lots. RENDERING | CONTRIBUTED PHOTO | CONTRIBUTED $500M Bushnell South master plan calls for 1,200 new apartments/townhomes, retail space and parking overhaul Farmington-born biotech Rallybio to go public in $100M IPO Less than four years after a team of former Alexion Pharmaceuticals executives launched a startup to develop new therapies for severe and rare disorders, their venture is going public. Rallybio earlier this month registered its initial public offering of shares with the U.S. Securities & Exchange Commission, indicating it hopes to raise $100 million. Rallybio's co-founders (from left to right) are: Dr. Stephen Uden, Jeffrey Fryer and Martin Mackay. A worker at St. Francis Hospital in Hartford gets the COVID-19 vaccine. The company intends to use the proceeds, as well as the approximately $128 million in cash it has on hand from private investment rounds, to advance its drug candidates further into clinical trials. The company would trade on the Nasdaq Global Market under the ticker symbol RLYB. Rallybio's lead drug candidate is a monoclonal antibody called RLYB212, which aims to prevent a life-threatening condition called fetal and neonatal alloimmune thrombocytopenia, or FNAIT, which causes pregnant woman to develop antibodies that attack their fetus' platelets, creating a risk for uncontrolled bleeding. The company hopes to enter phase one trials for the drug early next year. Founded in early 2018 by Martin Mackay, Dr. Stephen Uden and Jeffrey Fryer, Rallybio has already completed Series A and Series B investment rounds totaling $183 million, and it counts the quasi-public Connecticut Innovations as one of its backers. While Rallybio still leases a small lab in its original home — UConn's Technology Incubation Program (TIP) facility in Farmington — the company completed a move to New Haven last year, where it has 4,500 square feet of space at 234 Church St. Hartford to host major insurtech symposium this fall With the threat of the COVID-19 pandemic gradually receding, Hartford is set to host a major insurance sector conference this fall. InsurTech Hartford, an association of local insurance professionals and industry boosters, announced that it will bring back its insurance technology symposium, first held in 2019 at the Hartford Marriott. This year's event will be held on Oct. 26 and 27 at the Connecticut Convention Center in anticipation of a larger crowd, likely numbering over 1,000 attendees, organizers said. InsurTech Hartford organizers said they hope to draw industry players from New York City and Boston who are easing back into regular business travel after months of pandemic- related restrictions. Connecticut hospitals said they are backing a policy that will require their workers to get vaccinated against COVID-19. The Connecticut Hospital Association (CHA), the lobbying arm of the state's hospitals, said it has adopted a consensus, statewide policy endorsing mandatory COVID-19 vaccination for hospital and health system employees and clinical staff. A CHA spokesperson said Connecticut hospitals are committed to implementing the policy, which is similar to one adopted 10 years ago that required hospital employees to receive the flu vaccine. Windsor life insurer sold for $1.75B Following a recent approval from Connecticut's insurance commissioner, a San Francisco- based global investment firm said it has completed its $1.75 billion purchase of Windsor life insurer The Talcott Resolution. Sixth Street, which invests in the insurance sector through its nearly $25 billion TAO Funds

Articles in this issue

Links on this page

Archives of this issue

view archives of Hartford Business Journal - July 12, 2021