June 7, 2021

Massachusetts Life Sciences Center Continues Support for Angel Investor Community

Today, the Massachusetts Life Sciences Center (MLSC) launched a new round of its Angel Investor Tax Credit program. The MLSC offers this program to investors interested in funding early-stage companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. Two information sessions have been scheduled for June 14 and June 28 for interested applicants to attend.

The Angel Investor Tax Credit program provides a taxpayer investor a credit of 20 percent of the qualifying investment, or 30 percent if the business is located in a gateway municipality, in a business that has no more than $500,000 in gross revenues in the year prior to eligibility. Credits are available up to $50,000 in any one taxable year for qualifying investments of up to $125,000 per qualifying business per year and up to $250,000 in cumulative qualifying investments for each qualifying business.

The MLSC launched the first round of this initiative in July 2020. Leveraging approximately $450,000 of Center investment, 39 angel investors made $4.3 million in investment to 19 Massachusetts companies.

Full list of companies include:

Amsel MedicalCambridge
Anodyne Nanotech, Inc.Medford
Boston Cell Standards IncBoston
Cellino Biotech, Inc.Cambridge
Concerto Biosciences, Inc.Allston
Decoy Therapeutics Inc.Cambridge
DxLab Inc.Somerville
Folia Health, Inc.Cambridge
Hilltop BioSciences, Inc.Mansfield
Intera Oncology IncWellesley
Kytopen Corp.Cambridge
LabShares Newton LLCNewton
LaunchPad Medical, Inc.Lowell
MindMics, Inc.Cambridge
MitoLab Inc.Allston
New View Surgical, Inc.Boston
QSM Diagnostics incBoston
Regenerative Bioelectronics Inc.Worcester

Interested applicants can visit the Angel Investor Tax Credit program page for all relevant eligibility information and resources or contact AngelTax@masslifesciences.com.