EpiVax, Inc., of Providence, said yesterday that it has won a $600,000 grant from the National Institute of Diabetes and Digestive and Kidney Diseases to develop a drug for the prevention and treatment of a type of diabetes. NIDDKD, a division of the National Institutes of Health, will provide the money over two years. EpiVax will conduct studies that are anticipated to show that the drug reduces harmful immune responses to insulin-producing cells, preserving the body’s ability to make its own insulin. “EpiVax is grateful to the NIH and other funding sources in allowing our scientific team to conduct further research on a treatment for a disease that affects the health of so many young persons,” said Dr. Annie De Groot, chief executive officer of the company. She said the grant will build on current work financed by the Juvenile Diabetes Research Foundation and said EpiVax expects to be ready to consider clinical trials for treatment of juvenile diabetes beginning in two to three years. The company’s research program will be carried out in collaboration with Dr. David Scott of the University of Maryland and Dr. Robert Smith of the Hallett Center for Diabetes and Endocrinology at Rhode Island Hospital.

Textron division acquires manufacturer

The Greenlee business unit of Providence-based Textron (TXT:NYSE) yesterday said it had completed its acquisition of Utilux, a manufacturer of electrical connectors and cable assemblies for electrical distributors and European industrial segments. Terms were not disclosed. With revenues of about $28 million in fiscal year 2007, Utilux has about 220 employees and will continue to operate out of its Slovakian and United Kingdom locations. The acquisition gives Greenlee key product offerings and adds capacity to its Klauke division, which is based in Remscheid, Germany.

Residence Inn opens in WEST Greenwich

Marriott International, Inc. (MAR:NYSE) said yesterday that it plans to open a 100-suite Residence Inn by Marriott in West Greenwich today. Located at 755 Centre of New England Boulevard, the Residence Inn Providence-Coventry will operate as a Marriott franchise, owned and managed by Tharaldson Enterprises, of Fargo, N.D. Residence Inns are all-suite hotels that offer studio, one-bedroom and two-bedroom options for stays of five nights or more.

Staples to recycle UPS systems

West Kingston-based APC, the critical-power and cooling services unit of France’s Schneider Electric, has joined with Staples to introduce a new way to recycle aging uninterruptible power supply (UPS) systems. Starting this month, customers can bring UPS systems (3000 kVA and under) to any Staples store, regardless of where they were purchased, and drop them off at the customer service desk. A recycling fee of $10 per piece will cover handling, transport, product disassembly and recycling. In addition, when a customer brings any UPS system in for recycling from July 27 through Aug. 31, APC and Staples will waive the $10 fee and give the customer a $20 rebate toward the purchase of a new APC system from Staples. “It is critical that we all do our part as consumers to conserve resources through reducing waste and recycling,” said Dave Johnson, senior vice president for home and business networks at APC.

Mass. air taxi company raises financing

Concord, Mass.-based Linear Air, a provider of air taxi service to more than 750 cities in the Northeast, mid-Atlantic and eastern Canada, has closed a $3.5-million round of equity financing to support the continued growth of the Eclipse VLJ jet service launched in November, as well as expansion of service in the area. “We have seen a tremendous amount of success since adding the Eclipse jets to our fleet in New England,” where revenue in the second quarter of this year is up 100 percent as compared with the same period last year. “In these days of spiking fuel cost, our Eclipse jets are by far the most economical business jets available. Our plan is to continue to grow our fleet and replicate this success on a national level,” says William Herp, company president and chief executive officer. To date, Linear Air has raised nearly $10 million in equity financing, including this recent round of $3.5 million, and succeeded in leasing aircraft worth another $12 million.

New N.H. laws aimed at financial fraud

New Hampshire Gov. John Lynch has signed two bills aimed at protecting people from fraud. One prohibits investment advisers from using false professional designations, which infer that they have special qualifications or specialized education in addressing the needs of senior citizens and retirees. This law will require certification of certain titles for financial professionals. The other law will provide house buyers with greater protections when they obtain mortgages. It requires anyone who arranges mortgage loans to get a license from the state starting in April 2009. Mortgage originators will pay an annual $100 application fee and must answer questions about any criminal history or employment terminations. The state Banking Department will issue the licenses and have the authority to deny or revoke licenses under certain circumstances. Mortgage originators also will have to be employed by licensed mortgage bankers or brokers.

Maine film festival kicks off 11th year

About 4,000 movie fans are headed to Waterville, Maine, this week and next for the 11th annual Maine International Film Festival. Maine Film Center director Shannon Haines said this year’s festival will bring in more than 50 filmmakers and actors starting this Friday and running through July 20. The film center will show 100 movies across four screens at the Opera House and Railroad Square Cinema. One of the biggest events will be the awarding of the Mid-Life Achievement Award on July 17, at the Waterville Opera House, to actor John Turturro, of The Big Lebowski (1998) and O Brother, Where Art Thou? (2000) fame.

Conn. power company loses appeal

Connecticut regulators on Monday rejected United Illuminating Co.’s request to reopen a 2006 decision that allowed for a rate increase, a move the utility says could lead to a new request for higher rates. UI argued that the original rate hike of about 5 percent over four years for electrical distribution was insufficient. The utility asked to reopen the rate case because electricity sales are lower than expected and unpaid bills, known as uncollectables, have risen since the 2006 rate increase, said Al Carbone, a company spokesman. In addition, peak loads of power have increased substantially, he said. UI, which serves 320,000 customers from Fairfield to North Branford and Hamden, asked the state to add regulators and state consumer officials to a group reviewing the utility’s rates. Regulators rejected the request, saying that ordinary consumers would not have been included in those discussions.

‘Green jobs’ bill to get hearing in Mass.

Massachusetts lawmakers are planning a hearing on a bill designed to increase the number of so-called “green jobs” in the state. The measure, sponsored by House Speaker Salvatore DiMasi, would funnel $13 million a year over the next five years into a new Massachusetts Clean Energy Technology Center. The money would provide grants and financing to help colleges develop clean-energy studies and spur clean-energy manufacturing.

Recycling in Conn. to get easier

Recycling trash for thousands of people in 70 Connecticut towns and cities should soon be easier. The state trash agency, the Connecticut Resources Recovery Authority, is spending $3 million to retrofit its Hartford recycling system so that customers no longer will have to separate recyclables. Instead of separating paper, cardboard, bottles, cans and other containers, customers can put all of the materials into the same barrel. CRRA plans to give a $10 rebate for every ton of recyclables delivered to the Hartford plant by the 70 towns that make up the Mid-Connecticut Project.