June 19, 2018
MEDIA ADVISORY: Lt. Governor Polito Announces Inaugural Awards for MassNextGen Awards
Media Advisory: Wednesday June 20, 2018
CONTACT: Colleen Arons (HED) – colleen.arons@mass.gov
Joe Sullivan (MLSC) – jsullivan@masslifesciences.com (781) 795-6259
CAMBRIDGE – Lt. Governor Polito will join Massachusetts Life Science Center President & CEO Travis McCready, King Street Properties and leaders from the Life Sciences sector to celebrate the inaugural awards announcements for the MassNextGen Initiative.
MassNextGen is a competitive program to support women entrepreneurs in early-stage life sciences companies. The public-private partnership between the Massachusetts Life Sciences Center and corporate sponsors Takeda and King Street Properties is a five-year, $1.1 million commitment focused on empowering women and diversity in the next generation of life sciences entrepreneurs.
A networking reception will follow the award announcements. Event hosted by King Street Properties.
Event Details:
WHAT: Massachusetts Life Sciences Center (MLSC) Massachusetts Next Generation (MassNextGen) Initiative Inaugural Awards Announcement
WHEN: Wednesday, June 20, 2018 4:00 – 6:00 PM
WHERE: King Street Properties 200 Cambridge Park Drive Cambridge, MA
WHO: Lt. Governor Karyn Polito
Travis McCready, Massachusetts Life Sciences Center, President & CEO
Jennifer Griffin, Massachusetts Life Sciences Center, Vice President for Industry Programs and Relations
Liz Lewis, Takeda, Chief Counsel, Head Patient Advocacy Global Oncology Business Unit
Thomas Ragno, King Street Properties, Founder and Principal
Stephen Lynch, King Street Properties, Principal
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an economic development investment agency dedicated to supporting the growth and development of the life sciences in Massachusetts, home to the most verdant and productive life sciences ecosystem in the world. Through public-private funding initiatives, the MLSC supports innovation, research & development, commercialization, and manufacturing activities in the fields of biopharma, medical device, diagnostics, and digital health. Since its creation in 2007, the MLSC has strategically deployed over $700 million in Massachusetts, through a combination of grants, loans, capital infrastructure investments, tax incentives, and workforce programs. These investments have created thousands of jobs, and propelled the development of new therapies, devices, and scientific advancements that are improving patient health and well-being in Massachusetts and beyond.
###
June 18, 2018
Baker-Polito Administration Signs Life Sciences Initiative
PRESS RELEASE
FOR IMMEDIATE RELEASE:
6/15/2018
BOSTON — Today, Governor Charlie Baker signed An Act providing continued investment in the life sciences industry in the Commonwealth to invest up to $623 million in bond authorization and tax credits over five years in education, research and development, and workforce training. This legislation will serve to reinforce the Baker-Polito Administration’s commitment to leadership in the life sciences sector. The funding will continue to be managed by the Massachusetts Life Sciences Center (MLSC), which is co-chaired by Administration and Finance Secretary Michael Heffernan and Housing and Economic Development Secretary Jay Ash.
The bill was signed into law at Bunker Hill Community College (BHCC), which has received grants to help establish a new biotechnology program, internship placements at 30 life sciences companies and training for low-income adults to pursue biomedical careers.
“Reauthorizing the Mass Life Sciences Initiative will facilitate stronger public-private partnerships and strategic investments to train our workforce starting the classrooms and attract world-class companies to the Commonwealth,” said Governor Charlie Baker. “In partnership with the Legislature, our administration remains dedicated to generating economic growth and supplying researchers with the tools they need to create new advancements in medical care.”
Governor Charlie Baker was joined by Administration and Finance Secretary Michael Heffernan, legislative leaders, BHCC President Pam Y. Eddinger, PhD, President and CEO of the Massachusetts Biotechnology Council Robert Coughlin, President of the Dana-Farber Cancer Institute Laurie H. Glimcher, MD, Executive Vice President and Head of Sanofi Genzyme Bill Sibold and other life sciences stakeholders.
“Massachusetts is home to a world-class talent pool and this legislation will ensure more educational and career opportunities for residents throughout every region of the Commonwealth,” said Lieutenant Governor Karyn Polito. “Our administration has made strategic workforce investments to educate, train and employ those interested in a career in the life sciences, empowering the Commonwealth to continue to lead the way in this field.”
“Our state’s decision ten years ago to invest in life sciences research made Massachusetts a global leader in an industry that is inventing the future, and this legislation recommits us to that leadership,” said Senator Eric P. Lesser, Senate Chair of the Committee on Economic Development and Emerging Technologies. “This legislation also spreads out the growth we have seen in the biotech industry across the state, to regions that have manufacturing capacity but need targeted investments to gain access to these high-paying jobs. We want the next vaccine breakthrough, the next big discovery, the next lifesaving drug, to be developed here in Massachusetts. These investments in research and workforce training in the life sciences make that possible.”
“This bill demonstrates the legislature’s commitment to economic development and workforce training by providing the tools and resources to allow for the continued investment in our people, our infrastructure, and our Massachusetts-based companies,” said Representative Joseph F. Wagner, House Chair of the Joint Committee on Economic Development and Emerging Technologies.
“This legislation builds upon strategic investments made by the Baker-Polito Administration and is line with our overall economic development strategy,” said Secretary of Housing and Economic Development Jay Ash. “Our public investments have enabled life sciences to evolve from an emerging sector to an established global leader. By continuing to invest, we will maintain the vitality and competiveness of an industry that continues to create great jobs for our people and positively impact society.”
“As the leading global hub for life sciences innovation and advancement, our financial commitment and steadfast stewardship of public investment will ensure that we continue to hold on to that distinction,” said Secretary of Administration and Finance Michael J. Heffernan. “We’re investing in programs that will attract innovative companies seeking to start or expand in Massachusetts and fuel the robust pipeline of the best-trained life sciences talent in the nation.”
The five-year, $473 million bond authorization in the proposal provides capital funding that will enable the state to strengthen the ecosystem through collaborations that maximize third-party investments and sharpen the Commonwealth’s competitive edge.
The funding will continue to be managed by the MLSC with a focus on regional investments that spur workforce and economic development and enrich learning and experiential opportunities for young people in Massachusetts. Since its inception, $350 million in public investments have supported R&D infrastructure and facilities that are available for partnership with industry. For every public dollar invested in these facilities, the life sciences industry has invested $1.67 alongside. This infrastructure creates space for new partnerships, seeds startups, and supports new translational research capacities.
“We are grateful for the continued leadership of Governor Baker and Lieutenant Governor Polito and the collaborative effort with the Legislature to usher in the next generation of our vibrant life sciences ecosystem,” said Massachusetts Life Sciences Center President and CEO Travis McCready. “This spirit of partnership has allowed our Commonwealth to experience a near-decade of public-private partnerships in action with statewide impact that has positioned Massachusetts as the world’s leading life sciences hub. We know the entire biotech world is watching Massachusetts and today sends the strong message that together, we here in the Commonwealth have every intention to remain the number one center of life sciences innovation in the world.”
“The reason Massachusetts is the best place in the world for life sciences is because government is a true partner. MassBio and our members applaud Governor Baker, his Administration, and the Legislature for looking carefully at the results of the first life sciences initiative and concluding that the state can make a real difference – to our economy, to employees, and to patients around the world,” said MassBio President and CEO Robert K. Coughlin. “We are committed to working with the Administration and the Massachusetts Life Sciences Center to ensure this new life sciences initiative keeps Massachusetts on top, benefits workers at all levels, and brings new opportunities across the state.”
Strategic priorities for the initiative include strengthening investments in human capital to fortify the state’s skilled workforce pipeline, expanding opportunities for companies to access both private investment capital and dynamic public infrastructure resources, developing new scientific innovations that deliver higher outcome, affordable therapies to patients, and leading the convergence revolution in digital health, biopharma, medical devices and engineering.
In addition to new capital authorization for the MLSC, the legislation extends and expands the authorization of a key state tax credit that fuels job growth. The proposal permits the MLSC to extend the tax credit to December 31st, 2028 and increases the MLSC’s current annual statutory cap up to $30 million on tax credit awards, totaling $150 million over five years.
The tax incentive program provides a cost-effective way of attracting new and relocating companies to the Commonwealth while also ensuring that the state retains current commercial activity and captures investments from future growth. To date, 207 awards have been authorized under this program, representing $181 million in incentives in creating more than 8,800 net new jobs across the Commonwealth and maintaining them over a 5-year period. The program’s track record shows that once incentives anchor job creation, companies will exceed their growth projections by larger margins, further leveraging the state’s incentive awards.
“We are committed to supporting students pursuing education and training in the life sciences,” said Bunker Hill Community College President Pam Eddinger. “We are grateful for the support from Massachusetts Life Sciences Center, proud of our students and graduates participating in the biomedical and biotechnology fields, and pleased that the state will continue its substantial support, translating into a more vibrant life sciences sector.”
“This bill ensures continued growth in our economy and advances biomedical research while affirming Massachusetts strong commitment to life sciences. Importantly, it continues funding for the Massachusetts Life Sciences Center which is critical to our work at Dana-Farber. Working together, we are truly pushing the pace of progress in cancer science,” said Laurie H. Glimcher, president and chief executive officer of Dana-Farber Cancer Institute.
“Sanofi Genzyme has deep roots in Massachusetts and today we are the largest life-science employer in the Commonwealth,” said Bill Sibold, head of Sanofi Genzyme. “We have seen this innovative ecosystem grow from the earliest days to become the global center of our industry. Simply put there is no better place in the world for a life science company to locate, grow and thrive than Massachusetts. This legislation invests in the success we’ve had and will signal to the world that Massachusetts will continue to be the center of the life science industry.”
“As a company that has grown up in Massachusetts’ world-class innovation ecosystem, Vertex is proof that meaningful investments in the future of our industry will result in life-changing medical advancements,” said Dr. Jeffrey Leiden, chairman, president and chief executive officer of Vertex. “Governor Baker’s Administration has been a true champion for the life sciences, and with this continued support, I have no doubt that Massachusetts will continue to lead the world in biomedical innovation.”
“As a result of the state’s generous investment, the Massachusetts scientific community has access to a new multi-institutional facility in which to study how drugs are evaluated and speed the introduction of safe and effective new medicines,” said Peter Sorger, professor of systems pharmacology and director of the MLSC-supported Lab of Systems Pharmacology. “We deeply appreciate the Baker-Polito Administration’s making the key investment needed for an innovative new alliance among physician-scientists, BioPharma and patient advocates aimed at advancing precision medicine, strengthening the state’s human and intellectual capital and benefiting patients across the globe.”
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an economic development investment agency dedicated to supporting the growth and development of the life sciences in Massachusetts, home to the most verdant and productive life sciences ecosystem in the world. Through public-private funding initiatives, the MLSC supports innovation, research & development, commercialization, and manufacturing activities in the fields of biopharma, medical device, diagnostics, and digital health. Since its creation in 2007, the MLSC has strategically deployed over $700 million in Massachusetts, through a combination of grants, loans, capital infrastructure investments, tax incentives, and workforce programs. These investments have created thousands of jobs, and propelled the development of new therapies, devices, and scientific advancements that are improving patient health and well-being in Massachusetts and beyond.
###
June 11, 2018
Global Biopharmaceutical Company, Ipsen Announces New Headquarters for North America will be located in Cambridge, Massachusetts
MEDIA CONTACT
Martha Waldron 1-617-686-1085 mwaldron@masslifesciences.com
Marisol Peron 1-908-210-5968 marisol.peron@ipsen.com
Global Biopharmaceutical Company, Ipsen Announces New Headquarters for North America will be located in Cambridge, Massachusetts
— Ipsen commits to creating global hub in North America, expects to add more than 200 jobs —
BOSTON, June 7, 2018 – Today, Ipsen (Euronext: IPN; ADR: IPSEY), a global biopharmaceutical group, announced it will establish its North American headquarters in Cambridge, Massachusetts. The announcement was made at the 2018 BIO International Convention in Boston with the Massachusetts Life Sciences Center (MLSC), an economic development investment agency dedicated to supporting the growth and development of the life sciences in Massachusetts.
Ipsen will create its third global headquarters by consolidating its U.S. business in Cambridge, the leading global biotech hub. Ipsen will co-locate its North America business with its Global External Innovation and Partnering, R&D and Manufacturing teams, as well as certain global Commercial roles, creating a fully integrated biopharmaceutical business in the US.
“We are entering into a new era of innovation and growth for Ipsen as a leading global biotech company. By bringing our headquarters to Cambridge, we will build a sustainable innovation engine to advance opportunities for our employees and our overall business,” said Richard Paulson, CEO of Ipsen North America. “The MLSC has been instrumental throughout this process, and we look forward to continuing to partner with them as we grow our footprint even further in Cambridge and ultimately address patient needs.”
Ipsen will capitalize on Cambridge’s biotech ecosystem to support its accelerated growth, raise its profile and visibility as an employer and partner of choice. Ipsen already has an established presence in Cambridge with two sites in Kendall Square: a manufacturing site located in One Kendall Square and the 650 East Kendall Street offices, which houses its Global External Innovation and Partnering, and Research & Development activities.
“Our administration is committed to supporting strategic investments in life sciences, research and development and is pleased that Ipsen has chosen to expand its footprint by relocating its headquarters to here in the Commonwealth,” said Massachusetts Governor Charlie Baker. “Massachusetts continues to be a global leader in the life sciences industry and we welcome Ipsen’s planned growth in employment and investment that will spur continued innovation, collaboration and economic growth.”
Ipsen’s U.S. headquarters, currently based in Basking Ridge, NJ, will transition to Cambridge over the next 12 months. Ipsen’s two additional global biotech hubs will remain in the United Kingdom and France. The organization will also maintain a core services center in Basking Ridge, NJ. For more information on partnering with Ipsen, please visit: https://www.ipsen.com/partners/.
About Ipsen in North America
Ipsen Biopharmaceuticals, Inc. is a U.S. affiliate of Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven biopharmaceutical group focused on innovation and specialty care. The U.S. head office is currently located in Basking Ridge, New Jersey, and its Canadian office, Ipsen Biopharmaceuticals Canada, Inc., an integrated business unit within North America, is located in Mississauga, Ontario. Additional research and development and manufacturing sites are located in Cambridge, Massachusetts, as part of Ipsen Bioscience, Inc., the Ipsen U.S. research and development center, which is focused on the discovery of potentially highly differentiated and competitive products in Oncology, Neuroscience and Rare Diseases. Ipsen North America employs approximately 600 people and is dedicated to providing hope for the patients whose lives are challenged by difficult-to-treat diseases. At Ipsen, we focus our resources, investments and energy on discovering, developing and commercializing new therapeutic options for oncologic, neurologic and rare diseases. For more information on Ipsen in North America, please visit www.ipsenus.com or www.ipsen.ca.
About Ipsen
Ipsen is a global specialty-driven biopharmaceutical group focused on innovation and specialty care. The group develops and commercializes innovative medicines in three key therapeutic areas – Oncology, Neuroscience and Rare Diseases. Its commitment to oncology is exemplified through its growing portfolio of key therapies for prostate cancer, neuroendocrine tumors, renal cell carcinoma and pancreatic cancer. Ipsen also has a well-established Consumer Healthcare business. With total sales over €1.9 billion in 2017, Ipsen sells more than 20 drugs in over 115 countries, with a direct commercial presence in more than 30 countries. Ipsen’s R&D is focused on its innovative and differentiated technological platforms located in the heart of the leading biotechnological and life sciences hubs (Paris-Saclay, France; Oxford, UK; Cambridge, US). The Group has about 5,400 employees worldwide. Ipsen is listed in Paris (Euronext: IPN) and in the United States through a Sponsored Level I American Depositary Receipt program (ADR: IPSEY). For more information on Ipsen, visit www.ipsen.com.
More about the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an economic development investment agency dedicated to supporting the growth and development of the life sciences in Massachusetts, home to the most verdant and productive life sciences ecosystem in the world. Through public-private funding initiatives, the MLSC supports innovation, research & development, commercialization, and manufacturing activities in the fields of biopharma, medical device, diagnostics, and digital health. Since its creation in 2007, the MLSC has strategically deployed over $700 million in Massachusetts, through a combination of grants, loans, capital infrastructure investments, tax incentives, and workforce programs. These investments have created thousands of jobs, and propelled the development of new therapies, devices, and scientific advancements that are improving patient health and well-being in Massachusetts and beyond. www.masslifesciences.com
Ipsen Forward-Looking Statement
The forward-looking statements, objectives and targets contained herein are based on the Group’s management strategy, current views and assumptions. Such statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated herein. All of the above risks could affect the Group’s future ability to achieve its financial targets, which were set assuming reasonable macroeconomic conditions based on the information available today. Use of the words “believes,” “anticipates” and “expects” and similar expressions are intended to identify forward-looking statements, including the Group’s expectations regarding future events, including regulatory filings and determinations. Moreover, the targets described in this document were prepared without taking into account external growth assumptions and potential future acquisitions, which may alter these parameters. These objectives are based on data and assumptions regarded as reasonable by the Group. These targets depend on conditions or facts likely to happen in the future, and not exclusively on historical data. Actual results may depart significantly from these targets given the occurrence of certain risks and uncertainties, notably the fact that a promising product in early development phase or clinical trial may end up never being launched on the market or reaching its commercial targets, notably for regulatory or competition reasons. The Group must face or might face competition from generic products that might translate into a loss of market share. Furthermore, the Research and Development process involves several stages each of which involves the substantial risk that the Group may fail to achieve its objectives and be forced to abandon its efforts with regards to a product in which it has invested significant sums. Therefore, the Group cannot be certain that favorable results obtained during pre-clinical trials will be confirmed subsequently during clinical trials, or that the results of clinical trials will be sufficient to demonstrate the safe and effective nature of the product concerned. There can be no guarantees a product will receive the necessary regulatory approvals or that the product will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Other risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the Group’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Group’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. The Group also depends on third parties to develop and market some of its products which could potentially generate substantial royalties; these partners could behave in such ways which could cause damage to the Group’s activities and financial results. The Group cannot be certain that its partners will fulfil their obligations. It might be unable to obtain any benefit from those agreements. A default by any of the Group’s partners could generate lower revenues than expected. Such situations could have a negative impact on the Group’s business, financial position or performance. The Group expressly disclaims any obligation or undertaking to update or 4 / 4 revise any forward looking statements, targets or estimates contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law. The Group’s business is subject to the risk factors outlined in its registration documents filed with the French Autorité des Marchés Financiers. The risks and uncertainties set out are not exhaustive and the reader is advised to refer to the Group’s 2016 Registration Document available on its website (www.ipsen.com).
###
June 6, 2018
Baker-Polito Administration Announces Job Creation Incentives for 23 Massachusetts Life Sciences Companies
| |
FOR IMMEDIATE RELEASE:
June 5, 2018
Baker-Polito Administration Announces Job Creation Incentives for 23 Massachusetts Life Sciences Companies
Incentives will create over 1,000 new life science jobs throughout Massachusetts, with a focus on small and medium sized companies
BOSTON – Today, the Baker-Polito Administration announced nearly $20 million in tax incentive awards to 23 life sciences companies. The awards were approved by the Board of Directors of the Massachusetts Life Sciences Center (MLSC), and will create over 1,100 new jobs across the Commonwealth in 2018. The tax incentive awards will support life sciences job growth in 18 different Massachusetts communities, the majority of which are located or expanding outside of Boston and Cambridge.
Governor Charlie Baker announced the awards in his remarks at the BIO 2018 International Convention, an annual meeting that convenes 16,000 participants representing the breadth of the life sciences and application areas including drug discovery, biomanufacturing, genomics, biofuels, nanotechnology and cell therapy.
“Our administration is committed to supporting strategic investments to create more jobs and continue to improve Massachusetts’ overall position as a global leader in the life sciences,” said Governor Charlie Baker. “We look forward to working with the Legislature, MLSC and stakeholders to pass our bill to provide up to $500 million over five years for strategic investments in public infrastructure, research and development, workforce training and education.”
“We are proud Massachusetts continues to be the world’s leading ecosystem for successful life science companies,” said Lieutenant Governor Karyn Polito. “These awards support our economic development strategy, and we are pleased to see the number of life sciences companies continue to grow across the Commonwealth, expanding the reach of our innovation economy to new cities and towns.”
For the 2018 round, MLSC focused on leveraging diverse life sciences assets across the state to encourage growth more equitably throughout Massachusetts. Small and medium sized enterprises and companies located or expanding outside of Boston and Cambridge were actively encouraged to apply to the tax incentive program.
“The Massachusetts Life Sciences Center is an important partner in our work to support the growth of Massachusetts economy,” said Housing and Economic Development Secretary Jay Ash. “Along with today’s awards, we are working together to ensure our students have the skills necessary to join the industry, deepen the pool of talent in demand by life sciences companies and ensure Massachusetts remains a great place for companies to grow and people to live and thrive.”
“The tax incentive program continues to serve as an example of the Baker-Polito Administration’s commitment to job creation throughout Massachusetts,” said Administration and Finance Secretary Michael J. Heffernan. “These tax incentives serve as a critical catalyst for innovation and growth in this important sector of the Massachusetts economy.”
“Through this program we are fulfilling our commitment to supporting an ecosystem that fuels job growth, promotes innovation within the industry, and provides a constant stimulant for research and development, manufacturing, and commercialization in the life sciences,” said Travis McCready, president and chief executive officer of the Massachusetts Life Sciences Center. “Moreover, we are incentivizing both home grown and global companies to expand their footprint in our state.”
The Life Sciences Tax Incentive Program authorizes tax incentives each year for growing companies engaged in life sciences research and development, commercialization and manufacturing. The primary goal of the program is to incentivize life sciences companies of all sizes to create new, long-term jobs in Massachusetts.
Through previous award rounds, there are 126 active or completed awards, totaling more than $116 million in tax incentives. Prior awardees have created more than 5,700 new jobs since receiving tax incentives.
“We are pleased to be recognized by the Commonwealth for the ongoing growth of our workforce here, and this year we will continue to expand both our physical footprint and the types of roles we will bring into the organization with the opening of our new clinical development manufacturing plant in Norwood,” said Annie Drapeau, chief human resources officer at Moderna Therapeutics. “Massachusetts and the companies based here continue to attract the very best talent in our industry, and we are excited to be a part of this thriving life sciences community.”
“Berkshire Sterile Manufacturing appreciates the tax incentive award from the Massachusetts Life Sciences Center as it allows us to continue to grow and expand in Massachusetts,” said Shawn Kinney, PhD, president of Berkshire Sterile Manufacturing, Inc. “We continue to add high paying jobs in part from the assistance that we receive from MLSC. Last year we doubled in size and look forward to more growth this coming year.”
“We are thankful to receive the tax incentive award from the Massachusetts Life Sciences Center,” said Ankit Mahadevia, M.D., chief executive officer of Spero Therapeutics. “The award will assist us as we hire additional employees within the local biotech community in Boston to support our mission of bringing novel anti-infective therapies for current and emerging drug-resistant infections to patients.”
In June 2017, the Baker-Polito Administration filed a legislative proposal to bolster Massachusetts’ leadership in the life sciences sector, which would provide up to $500 million over five years for strategic investments in public infrastructure, research and development, and workforce training and education, including up to $295 million in capital authorization and up to $150 million in job-creating tax incentives. The funding will continue to be managed by the MLSC, which is co-chaired by Housing and Economic Development Secretary Jay Ash and Administration and Finance Secretary Michael J. Heffernan.
The Tax Incentive Program is jointly administered by the MLSC and the Massachusetts Department of Revenue (DOR), which oversees the technical administration of the incentives. Jobs that are created must be maintained for at least five years. The Tax Incentive Program mandates that awarded companies submit reports and respond to inquiries by the MLSC and DOR regarding employment figures. If a company receiving a tax incentive under the program does not meet and maintain their minimum threshold for job creation, the credit can be recovered by DOR, requiring that the company pay back all or a portion of the tax incentives they’ve received.
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an economic development investment agency dedicated to supporting the growth and development of the life sciences in Massachusetts, home to the most verdant and productive life sciences ecosystem in the world. Through public-private funding initiatives, the MLSC supports innovation, research & development, commercialization, and manufacturing activities in the fields of biopharma, medical device, diagnostics, and digital health. Since its creation in 2007, the MLSC has strategically deployed over $700 million in Massachusetts, through a combination of grants, loans, capital infrastructure investments, tax incentives, and workforce programs. These investments have created thousands of jobs, and propelled the development of new therapies, devices, and scientific advancements that are improving patient health and well-being in Massachusetts and beyond.
2018 Massachusetts Life Sciences Tax Incentive Program Awardees:
| Company |
Location |
Incentive Amount |
Jobs |
| Abiomed Inc |
Danvers |
$750,000.00 |
50 |
| Alkermes, Inc. |
Waltham |
$1,500,000.00 |
100 |
| Alnylam Pharmaceuticals, Inc. |
Norton |
$1,650,000.00 |
110 |
| Astellas Institute for Regenerative Medicine |
Marlborough |
$150,000.00 |
10 |
| Berkshire Sterile Manufacturing |
Lee |
$340,000.00 |
23 |
| Citra Labs, LLC |
Braintree |
$450,000.00 |
30 |
| Decibel Therapeutics, Inc. |
Cambridge |
$200,000.00 |
22 |
| EMD Holding Corporation |
Danvers |
$1,350,000.00 |
90 |
| Enanta Pharmaceuticals, Inc. |
Watertown |
$270,000.00 |
18 |
| Evelo Biosciences, Inc. |
Cambridge |
$465,000.00 |
31 |
| Indigo Agriculture, Inc. |
Charlestown |
$1,125,000.00 |
75 |
| Instrumentation Laboratory Company |
Bedford |
$525,000.00 |
35 |
| Insulet Corporation |
Acton |
$3,690,000.00 |
150 |
| L.E.A.F. Pharmaceuticals LLC |
Woburn |
$300,000.00 |
20 |
| Lantheus Medical Imaging, Inc. |
North Billerica |
$480,000.00 |
32 |
| Moderna Therapeutics, Inc. |
Norwood |
$1,725,000.00 |
115 |
| ProTom International Holding Corporation |
Wakefield |
$150,000.00 |
10 |
| Rubius Therapeutics |
Cambridge |
$750,000.00 |
50 |
| Siemens Healthcare Diagnostics Inc. |
East Walpole |
$2,009 000.00 |
82 |
| Spero Therapeutics, Inc. |
Watertown |
$150,000.00 |
10 |
| SQZ Biotech |
Watertown |
$240,000.00 |
16 |
| Vicarious Surgical Inc. |
Cambridge |
$150,000.00 |
10 |
| WAVE Life Sciences |
Lexington |
$1,500,000.00 |
100 |
###
|
|
|
|
May 22, 2018
Massachusetts Life Sciences Center Initiative for Women Entrepreneurs Gains New Partners
Massachusetts Life Sciences Center Initiative for Women Entrepreneurs Gains New Partners
Massachusetts Next Generation Initiative receives $125,000 from Thomas Ragno and Stephen Lynch of King Street Properties; More than 30 applications received for program to support women-led, early-stage life sciences companies
Waltham, MA May 17, 2018 – The Massachusetts Life Sciences Center (MLSC) today announced two new financial partners for its Massachusetts Next Generation Initiative (MassNextGen), a new competitive program for women-led life sciences companies. Thomas Ragno and Stephen Lynch are the Principals of King Street Properties, a private real estate investment management firm focused on serving the complex needs of science-based companies. Their partnership with the MassNextGen initiative will provide $125,000 for a sponsorship, in addition to in-kind support, including spaces for coaching sessions.
“This makes absolute sense for King Street to further support a strong and diverse life sciences ecosystem,” said Tom Ragno of King Street Properties. “Supporting early-stage companies is not only smart business, but consistent with our corporate values to help attract and retain top scientific talent and create an atmosphere which accelerates diversity, collaboration and discovery. We applaud the MLSC for taking this decisive step to address the gap with this program.”
In November of last year, the Baker-Polito Administration announced the launch of MassNextGen as a five-year, $1.1 million commitment, aimed at empowering women and improving diversity in the next generation of life sciences entrepreneurs. The $1.1 million commitment includes $500,000 in direct awards to participants, with $250,000 in 1-to-1 funding matches from anchor partner, Takeda Pharmaceuticals, and the MLSC. An additional $500,000 in in-kind contributions will be provided for networking, professional development and coaching support.
Since its launch, the MLSC has leveraged the region’s substantial network of seasoned entrepreneurs, investors and life science experts to create a newly formed executive coaching network that will select each year’s winners based on a set of criteria including, but not limited to, the level of involvement of women in the conception, strategy, and execution of the company, the proposed use of funding, and the business plan feasibility. The MLSC began accepting proposals in January 2018 and received a total of 37 applications from women-led, early-stage life sciences companies. The applicants are located throughout the Commonwealth and represent a range of sectors within the life sciences industry.
“We are grateful for the leadership of King Street Properties and our other partners for helping lead the charge to ensure the next generation of life science entrepreneurs is diverse,” said Jennifer Griffin, who serves as the Vice President of Industry Programs & Relations at the Massachusetts Life Sciences Center.
According to Babson College’s The Diana Project report “Women Entrepreneurs 2014: Bridging the Gender Gap in Venture Capital,” only 15 percent of the companies receiving venture capital investment had a woman on the executive team from 2011-2013. Only 3 percent of total venture capital dollars in the U.S. went to companies with a female CEO and it is hardest for female executives to attain seed-stage funding. The life sciences ecosystem, entrepreneurs and investors alike, benefits from having more diverse leaders with talent and bright ideas. MassNextGen aims to visibly move the Massachusetts ecosystem in that direction.
“MassNextGen aims to identify promising women-led life science companies and to ensure that the individuals leading them have the tools to succeed, thereby providing an opportunity for Massachusetts to gain a competitive advantage by having women equally represented,” said Pam Randhawa, who serves on the MassNextGen coaching network, the MLSC Board of Directors, and is the Founder and CEO of Empiriko, an integrated precision medicine company.
Each year, through MassNextGen, winning companies will be awarded a year-long customized package of support that includes funding as well as access to a specially recruited network of executive coaches from the life sciences ecosystem to help support and develop the next generation of women life science entrepreneurs. Winners of the inaugural round are expected to be announced this summer.
“Gender parity is not only about equal representation, but also about a strong business case that supports a diverse ecosystem,” said Luba Greenwood, who also serves on the MassNextGen coaching network and recently joined Google, Verily in the Strategic Business Development and Corporate Ventures for the Google Life Sciences division. “While we continue to gain more and more insight into why the disparity exists, and more knowledge on what actions must be taken to fix it, we know for sure women are essential members of an innovative and thriving ecosystem.”
More about MassNextGen
Having more women at all levels of our ecosystem makes the life sciences industry stronger. The MassNextGen initiative is designed to support women entrepreneurs, giving them the tools they need to succeed. These tools include expanding their network, increased visibility within the ecosystem, and directly investing in their ventures via non-dilutive capital. The Massachusetts Life Sciences Centers looks forward to featuring standout Massachusetts women-led life science companies over the course of the next five years and partnering with industry stakeholders to be agents of change.
More about King Street Properties
King Street Properties is the largest privately-held and locally-based owner of life science real estate in the Greater Boston area. With over 1.2 million square feet of lab space under ownership and management in Cambridge and the core suburban laboratory markets, King Street is highly experienced in the development and operation of best-in-class multi-tenant laboratory buildings. King Street offers a hands-on approach while drawing upon the large company experience of its team and has the flexibility to deliver customized space solutions to a wide range of innovators and entrepreneurs.
More about the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an economic development investment agency dedicated to supporting the growth and development of the life sciences in Massachusetts, home to the most verdant and productive life sciences ecosystem in the world. Through public-private funding initiatives, the MLSC supports innovation, research & development, commercialization, and manufacturing activities in the fields of biopharma, medical device, diagnostics, and digital health. Since its creation in 2007, the MLSC has strategically deployed over $700 million in Massachusetts, through a combination of grants, loans, capital infrastructure investments, tax incentives, and workforce programs. These investments have created thousands of jobs, and propelled the development of new therapies, devices, and scientific advancements that are improving patient health and well-being in Massachusetts and beyond.
###
May 2, 2018
New biotech lab opens at New Bedford High School
“We can simulate exactly what’s happening in the real world,” said Chu Kwen Ho, lead science teacher at the school.
Headmaster Bernadette Coelho credited Ho with spearheading the project and writing a grant proposal to get it funded. The lab and training program received $110,000 from the Massachusetts Life Sciences Center.
Read the full article here.
April 30, 2018
MLSC President & CEO on NECN, April 30, 2018
Travis McCready, president and CEO of the Massachusetts Life Sciences Center, discusses a new drug therapy that can potentially treat advanced Parkinson’s Disease.
View the interview here.
April 24, 2018
The 100 Most Influential People in Boston
— 44 —
Travis McCready
President and CEO, Massachusetts Life Sciences Center
With a billion dollars of public and private money to hand out, McCready is shaping the future of the region’s most vital industry. The real test of his power, however, comes as he tries to persuade the state legislature to pass Governor Baker’s proposed five-year, $500 million extension of life sciences funding.
View the full list here.
March 27, 2018
Bringing Life Sciences to the Berkshires
MLSC President & CEO Travis McCready joined New England Cable News for his monthly check-in on the life sciences industry.
Click here to view the video.
March 26, 2018
MLSC Grant Featured in “Being Boston” on Boston 25 News
A club at a Boston school is blazing a path for future careers in Science.
Headmaster Dr. Lindsa McIntyre has transformed the Jeremiah Burke High School in Dorchester; focusing on the whole child, academically and socially.
The Science Club is an afterschool program helping to target those students. It’s a passion of science teacher Dr. Carl Reid.
Read the full article on Fox25 Boston.
March 19, 2018
Grant gives Goodrich Life Science Lab a facelift
Pictured from left: North Central Massachusetts Chamber of Commerce’s David Ginisi, Massachusetts Life Sciences Center’s Ryan Mudawar, state Sen. Dean Tran, Goodrich Academy Principal Alexis Curry, Fitchburg Mayor Stephen DiNatale and Fitchburg Public Schools Superintendent Andre Ravenelle.
There was excitement and pride at Goodrich Academy for the Life Science Lab ribbon cutting ceremony on Friday morning.
Goodrich Academy science teacher Sara Goguen’s room certainly received a needed facelift, along with new STEM equipment, supplies and professional development through a grant awarded by the Massachusetts Life Sciences Center during the 2016-17 school year.
“This is a beautiful space,” Goguen said. “Sometimes I sit around at my desk and look around a smile. It’s amazing.”
The awarded amount was $105, 345.
Read the full story here.
March 9, 2018
State set to launch $14M life sciences hub in the Berkshires
March 8, 2018
Gov. Baker set to attend Berkshire Innovation Center announcement Friday
If Gov. Charlie Baker and several top aides plan to travel to the Berkshires barely a day after a major winter storm, it must for be something big.
How about an announcement involving the Berkshire Innovation Center?
Read the article here.
March 6, 2018
LIFE SCIENCES COMING INTO PLAY AHEAD OF JUNE’S BIO CONVENTION
Gov. Charlie Baker last June offered a five-year, $500 million bill to basically extend the life sciences law and that bill could draw attention before BIO comes to town. While the bill has not advanced in the House or Senate, House Speaker Robert DeLeo in January said he favors a “renewal of our commitment” to the industry, which he said has “shown to be a good investment in the past, good for the Massachusetts economy.”
Read the full article here
March 2, 2018
Experts say higher ed, business must work together to solve student debt
Travis McCready, the president and CEO of the Massachusetts Life Sciences Center, said colleges can — and must — do more to connect students with job opportunities in the local biotech industry, where annual salaries often run in the six figures.
Read the article on the Boston Business Journal here.
