December 19, 2012

Center’s Board approves new round of Accelerator loans, 2011 Accelerator company MoMelan Technologies, Inc., repays loan

MoMelan Repayment
Secretary of Housing and Economic Development Greg Bialecki and Massachusetts Life Sciences Center President & CEO Dr. Susan Windham-Bannister receive MoMelan Technologies’ Accelerator loan repayment check from CEO Sameer Sabir. (From left to right: Sameer Sabir, CEO, MoMelan Technologies, Inc.; Greg Bialecki, Secretary of the Office of Housing and Economic Development; Dr. Susan Windham-Bannister, Ph.D., President & CEO, Massachusetts Life Sciences Center.)

The Massachusetts Life Sciences Center (MLSC), a quasi-public agency charged with implementing the state’s 10-year, $1-billion Life Sciences Initiative, today announced the awarding of nearly $4 million in loans to four early-stage life sciences companies. The MLSC’s Accelerator Loan program provides loans of up to $1 million to early-stage companies engaged in life sciences research and development, commercialization, and manufacturing. The MLSC’s Board of Directors approved the sixth round of Accelerator loans today.

The MLSC also announced today that MoMelan Technologies, Inc., of Cambridge, a company that was awarded a $750,000 Accelerator loan in 2011, has repaid its loan early after being acquired by Texas-based Kinetic Concepts, Inc. Momelan is a medical device company developing an innovative epidermal grafting solution utilizing donor site-sparing technology for enabling and standardizing the use of epidermal skin grafting that can be performed in the office or outpatient setting with minimal discomfort. This technology enables a consistent and reproducible harvest of autologous grafts of uniform thickness that are immediately applied to the recipient site. The company’s loan repayment totaled $811,000.