This, the first of our regional blogs, is authored by the technology and financial journalist Dominic Basulto. Dominic is a New York native, has been a senior editor at Corante since day one and has written for a number of online and offline media companies. Send tips or story ideas to: basulto@gmail.com.
About this weblog
Here we'll report daily on the latest tech and business developments in New York City. Impossible we concede: comprehensive coverage of the city's every story. What we hope you'll find: tips, tidbits and perspectives you won't find elsewhere. As well as unique insights, original interviews and more that should be of interest to New York's vibrant community of technologists and those who track, invest in and report on them.
Manhattan-based pharmaceutical company Innovative Drug Delivery Systems (IDDS) has gone public through a reverse merger and closed on an $18 million private placement. The other company involved in the reverse merger is Intrac, which discontinued operations in 2001 but still trades in the OTC market. In 2002, IDDS had filed for an IPO but subsequently pulled the deal when the market for medical & biotech IPOs soured.
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