June 14, 2022

Baker-Polito Administration Announces $24.2 Million Job Creation Incentives for 36 Massachusetts Life Sciences Companies

Incentives expected to create over 1,500 life sciences jobs throughout Massachusetts; Since Life Sciences Center’s inception, Tax Incentive program has now supported creation of more than 10,000 jobs

Today, the Baker-Polito Administration and Massachusetts Life Sciences Center (MLSC) announced $24.2 million in tax incentive awards to 36 life sciences companies. The awards, provided through the MLSC’s Tax Incentive program, are expected to create 1,581 new life sciences industry jobs in the Commonwealth. The Tax Incentive program is offered to companies engaged in life sciences research and development, commercialization, and manufacturing in Massachusetts, providing incentives to companies of all sizes looking to expand their efforts by creating new, long-term jobs in Massachusetts.

“This critical funding represents the Baker-Polito Administration’s continued commitment to supporting a thriving ecosystem necessary for life sciences companies to grow and succeed,” said Massachusetts Housing and Economic Development Secretary Mike Kennealy, who serves as Co-Chair of the MLSC Board of Directors. “These investments support job creation across our Commonwealth, spurring innovation and expansion for both homegrown and global life sciences companies alike. Massachusetts remains a global leader for companies in this industry to locate, accelerate, and improve patient outcomes.”

“The life sciences sector remains key to our innovation economy and the Baker-Polito Administration is proud to support growth and opportunity in the life sciences to create jobs and promote economic development,” said Administration and Finance Secretary Michael J. Heffernan, who also serves as MLSC Board Co-Chair. “The Commonwealth must maintain its competitive advantages as a global leader in the life sciences and these investments demonstrates Massachusetts leadership in accelerating companies’ ability locate and expand here in our Commonwealth.”

Out of the 36 companies receiving tax incentive awards, 28 companies—accounting for 77 percent of the new jobs—are expanding outside of Boston and Cambridge. Since the MLSC’s reauthorization in 2018, 80 percent of jobs committed through the MLSC’s Tax Incentive program are located outside of Boston and Cambridge. Since the Center’s inception, life sciences companies expanding across Massachusetts have committed to the creation of more than 10,000 jobs through this program.

“Through job creation incentives and other strategic initiatives, the Life Sciences Center will continue to deploy every resource necessary to support life science companies of all sizes and sub-sectors,” said MLSC President and CEO Kenn Turner. “Massachusetts’ global leadership in the life sciences is no accident. It’s because of a holistic and intentional commitment to sustaining an ecosystem-wide approach focused on innovation, regionalization, and diversity.”

The MLSC has continued to utilize the Tax Incentive Program to leverage diverse life sciences assets across Massachusetts and to encourage growth and expansion on a statewide basis. The awardees represent a diverse cohort of companies working on drug discovery and development, medical devices, diagnostics, and manufacturing. Awardees include:

CompanyExpansion LocationsIncentive Amount Jobs commitment
Abiomed, Inc.Danvers $450,000                      30                               
Agilent Technologies, Inc.Chicopee $150,00010                                
Apellis Pharmaceuticals, Inc.Waltham $300,00020                                
Beam Therapeutics, Inc.Cambridge $2,100,000140                               
Butterfly NetworkBurlington $960,00064                                   
Bristol-Myers Squibb CompanyDevens $2,145,000143
C4 Therapeutics, Inc.Watertown $675,00045
Candel Therapeutics, Inc.Needham $240,00016                                
Charles River Laboratories, Inc.Wilmington $1,140,000                 76                                 
ChemGenes CorporationWilmington $150,000                    10                                 
CONTINUUS PharmaceuticalsWoburn $180,000                     12                                
CRISPR Therapeutics, Inc.Framingham $1,365,000                 65                                
Eli Lilly and CompanyBoston $475,000                    25                                 
Exact Sciences Corporation & SubsidiariesCambridge $900,000                    60                                  
Fog Pharmaceuticals, Inc.Cambridge $435,00029                                
Inozyme Pharma, Inc.Boston $225,000                    15                                 
Instrumentation Laboratory CompanyBedford $450,000                    30                                 
iSpecimen, Inc.Lexington $450,000                    30                               
iVexSol, Inc.Worcester $315,000                    21                                 
Lexington Medical, Inc,Bedford $525,000                    35                                 
Lykan Bioscience, LLCHopkinton $750,000                     50                                  
Lyndra Therapeutics, Inc.Franklin $600,000                     40                                 
Masy Systems, Inc.Pepperell $300,000                    20                                
Mersana Therapeutics, Inc.Cambridge $825,000                    55                                 
Miltenyi Biotec, Inc.Waltham $150,000                    10                                    
ModernaTX, Inc.Norwood $2,325,000                 155                                
Mustang Bio, Inc.Worcester $525,000                    35                                  
New England Biolabs, Inc.Ipswich $525,000                    35                                
PharmaEssentia USABurlington $150,000                    10                                  
Quanterix CorporationBillerica $1,050,000                 70                                   
Rapid Micro Biosystems, Inc.Lowell $150,000                    10                                  
Rentschler Biopharma, Inc.Milford $900,000                    60                                 
Saliogen Therapeutics, Inc.Woburn $1,425,000                 95                                  
TCR2 Therapeutics Inc.Cambridge $450,000                    30                                
Vesigen IncCambridge $150,000                    10                                  
Zoll Medical CorporationChelmsford $300,000                    20                               

“We are honored to be recognized by the Massachusetts Life Sciences Center and the Baker-Polito Administration,” said Dr. Todd Fruchterman, Butterfly Network’s President and Chief Executive Officer. “As we continue our journey to transform care for all patients by providing access to valuable ultrasound information at the point of care, we are excited to be part of the incredible Massachusetts’ healthcare ecosystem.”

“C4 Therapeutics is grateful to be part of the tax incentive program through the Massachusetts Life Sciences Center, which will help us deliver on the promise of targeted protein degradation science to create a new generation of medicines that transform patients’ lives,” said Andrew Hirsch, president and CEO, C4 Therapeutics. “This program will further support C4T’s growth in Watertown, where our talented workforce remains committed to supporting our neighbors and working with local partners to strengthen the life science community.”

“Lykan Bioscience is thrilled to be selected as a recipient of a $750,000 tax incentive through the Massachusetts Life Sciences Center’s 2021 Tax Incentive Program,” said Lykan Bioscience President and Chief Executive Officer Patrick Lucy. “We are happy to continue our strong partnership with the Massachusetts Life Sciences Center to maintain Massachusetts’ global leadership in life sciences.”

“We are very grateful and excited about the award, Miltenyi Biotec’s continued growth as well as the advancement of our teams and activities based in Massachusetts,” said Markus Weiss, EVP and CFO NAM, Miltenyi Biotec.

“We appreciate the ongoing support from the Massachusetts Life Sciences Center and are grateful to once again be a MLSC tax incentive award recipient. This award recognizes the ongoing economic impact that Mustang Bio brings to Massachusetts, supports our company growth and assists us as we advance our gene and CAR T cell therapy programs,” said Manuel Litchman, M.D., President and Chief Executive Officer of Mustang

“As a rapidly growing leader with a rare cancer therapy launching in the U.S., Massachusetts has been an ideal location to expand our team and our U.S. footprint,” said Meredith Manning, President of the Americas, PharmaEssentia. “We look forward to continuing to build this momentum in the coming years with additional job growth and investments in the state.”

“We are excited to be among this year’s recipients of the tax incentive award from MLSC and look forward to our continued participation in their many great programs and resources,” said Nick Buffinger, Chief Operating Officer at Vesigen, Inc. “As a young company emerging from the pandemic, this incentive will help us sustain our growth and innovation as part of the vibrant Massachusetts life sciences community.”

“At Lyndra, we’re pioneering long-acting oral therapies by developing a capsule that can deliver a week’s—or even a month’s—worth of medicine in a single dose,” says Jessica Ballinger, President and Chief Operating Officer at Lyndra Therapeutics. “Thanks in no small part to our continued partnership with the Massachusetts Life Sciences Center, we’ve been able build our R&D business in Massachusetts, including our commercial manufacturing facility, to help us achieve our mission.”

The MLSC jointly administers the Tax Incentive Program with the Massachusetts Department of Revenue (DOR), which oversees the technical administration of the incentives. Awardees are required to maintain job commitments over a five-year period. The program includes regular reporting requirements for awardees to document jobs created as a result of the incentive.