Category: Waltham
Participation comes from academic institutions and companies across the state
Waltham, Massachusetts - The Massachusetts Life Sciences Center’s 2010 Internship Challenge has received an overwhelming response since its February launch, with nearly 900 applicants seeking internships this summer. Over 130 companies from all sectors of the life sciences community have combed through hundreds of resumes, held numerous interviews, and selected interns to hire. Through the Challenge, 164 interns have been matched with 93 life sciences companies, a more than 50% increase from the 104 interns selected in 2009.
The Massachusetts Life Sciences Center’s Internship Challenge is a workforce development program focused on enhancing the talent pipeline for life sciences companies in Massachusetts while providing interns with practical, “hands on” experience that prepares them to step into the workforce ready to meet the job requirements of life sciences employers. The program is providing paid summer internships to undergraduates, graduate students, and recent college graduates from 46 different colleges and universities.
Center will provide $2.48 million to support four early-stage life sciences companies
Waltham, MA – The Massachusetts Life Sciences Center (the “Center”), a quasi-public agency tasked with implementing the state’s ten-year, $1 billion Life Sciences Initiative, today announced the awarding of $2.48 million in loans to four early-stage life sciences companies. The Center’s Accelerator Program provides loans of up to $750,000 to early-stage companies engaged in life sciences research and development, commercialization and manufacturing. The Center’s Board of Directors approved the first round of 2010 Accelerator loans today. Four companies were authorized to receive loans out of thirty-nine applications that were submitted to the Center and competitively peer-reviewed. A second round of the Program is scheduled for the Fall of 2010.
At two-year mark, state’s Life Sciences Initiative provides strong return on investment
Waltham, MA – The Massachusetts Life Sciences Center is providing a $50,000 grant to the Massachusetts Life Sciences Collaborative to support an initiative aimed at strengthening the state’s biomanufacturing sector through a Massachusetts Biomanufacturing Roundtable and the development of a comprehensive Biomanufacturing action agenda during the 2010 calendar year. The Biomanufacturing Roundtable includes participation from influential life sciences, biomanufacturing, academic, and government leaders, including Massachusetts Life Sciences Center President & CEO, Dr. Susan Windham-Bannister. The Roundtable is co-chaired by Taligen Therapeutics CEO Abbie Celniker, Acceleron Pharma Senior Vice President of Manufacturing Bob Steininger, and former Pfizer Vice President Mickey Koplove.
Center Awards $1.5 million to foster job growth and technology commercialization in the Massachusetts Life Sciences Supercluster
For Immediate Release: Date: May 28, 2010
Contact: Angus G. McQuilken, MLSC VP for Communications
Phone: (617) 921-7749 Email: amcquilken@masslifesciences.com
“This is all about jobs. By helping life sciences companies grow, we create new opportunities for people to work,” said Governor Deval Patrick. “As we continue to strengthen our global leadership in the life sciences, this program will meet an important need and make Massachusetts an even more attractive place for life sciences companies to locate and grow.”
Waltham, MA – The Massachusetts Life Sciences Center’s Board of Directors today awarded $1.5 million in Small Business Matching Grants to three life sciences companies in Massachusetts. The companies receiving grants are Boston Biochem Inc. and Tetragenetics Inc., both of Cambridge and Thermedical Inc. of Somerville. Each company will receive $500,000 from the Center to match federal small business grant funding that the companies had previously been awarded. The grants represent the first round of awards issued under the Center’s Small Business Matching Grant (SBMG) Program. The three companies that are receiving awards have committed to collectively creating 40 new jobs in the Commonwealth by the end of 2011, including six jobs to be relocated from New York.
The Center’s Small Business Matching Grant Program, launched in January 2010 as part of the state’s ten-year, $1 billion Life Sciences Initiative, will match federal small business grant funding for early-stage life sciences companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. Goals of the program include the creation of jobs in Massachusetts by the commercialization of products with high potential for market adoption and penetration.
The Center’s Flagship Investment Program provides working capital to early-stage companies
For Immediate Release: Date: February 24, 2010
Contact: Angus G. McQuilken, MLSC VP for Communications
Phone: (617) 921-7749 Email: amcquilken@masslifesciences.com
Waltham, MA – The Board of Directors of the Massachusetts Life Sciences Center today approved the launch of the 2010 Accelerator Loan Program, the second year of the Center’s flagship investment program that provides working capital to early-stage life sciences companies. The Center will begin accepting online applications on Wednesday, February 24th, 2010 with an application deadline of Wednesday, March 24, 2010. A subsequent round will be conducted in the fall, with application dates to be announced. Applications will be accepted via the Center’s web site at www.masslifescience.com.
The Program has been capitalized with $5.5 million for 2010. This year’s program will offer loans of up to $750,000 per company, an increase from the 2009 maximum loan amount of $500,000. The Program seeks to “de-risk” start-up companies that are in need of financing to serve as flexible working capital or for the purchase of capital assets to help selected companies achieve product development milestones and obtain private investment. In addition, the loan terms will now include a warrant which will give the Center the right to purchase equity in the company at a specific price within a certain time frame.
For Immediate Release: Date: 02/24/10
Contacts:
Massachusetts Life Sciences Center
Angus G. McQuilken, Vice President for Communications
Phone: 617-921-7749 Email: amcquilken@masslifesciences.com
WPI/Gateway Park
Michael Cohen
Phone: 508-868-4778 Email: mcohen@wpi.edu
Grant leverages $25 million private investment for development of a new facility that will create jobs, house young companies and provide training programs in the life sciences
Waltham, MA— The Massachusetts Life Sciences Center Board of Directors today awarded a $6.6 million grant to Worcester Polytechnic Institute (WPI) to support the next phase of life sciences related development at Gateway Park in Worcester. The grant leverages $25 million in private investment for the development of a new 80,000-square-foot life sciences facility anticipated to create 120 construction jobs and 142 new permanent jobs at completion.
The grant supports the development of WPI’s Biomanufacturing Education and Training Center (BETC); a new incubator for Massachusetts Biomedical Initiatives (MBI); and expanded academic and research space, including new facilities for the Massachusetts Academy of Math and Science. The BETC is planning a 10,000-square-foot facility that will provide hands-on biomanufacturing training to support industry workforce development. MBI is planning to expand its incubator resources by developing a new wet-lab core facility to help more companies launch, grow and provide jobs. MBI currently operates three life sciences incubators in Central Massachusetts (one of which is located in the first Gateway Park building) and has graduated 30 companies, creating 265 new jobs since 2000.
FOR IMMEDIATE RELEASE: Date: 1/27/10
Contact:
Angus G. McQuilken
Vice President for Communications
Cell: 617-921-7749
amcquilken@masslifesciences.com
$3 million available to match federal grant funding for early-stage life sciences companies
Waltham, Massachusetts –The Massachusetts Life Sciences Center, a quasi-public agency tasked with implementing the state’s ten year, $1 billion Life Sciences Initiative, today launched a new Small Business Matching Grant (SBMG) program that will match federal small business grant funding for early-stage life sciences companies in Massachusetts. $3 million will be made available for the program for Fiscal Year 2010. The Center will begin accepting on-line applications for the new program on Monday, February 1, 2010. Applications will be submitted via the Center’s web site at www.masslifesciences.com.
Workforce Development Program will provide internship opportunities for Massachusetts students and recent graduates in summer 2010
For Immediate Release: Date: January 12, 2010
Contact: Angus G. McQuilken, Life Sciences Center VP for Communications
Phone: (617) 921-7749 Email: amcquilken@masslifesciences.com
Waltham, MA – The Massachusetts Life Sciences Center today announced the launch of the Center’s Internship Challenge Program for the summer of 2010, the second year of a workforce development program focused on enhancing the talent pipeline for Massachusetts life sciences companies. The program will provide paid internship opportunities at life sciences companies for up to 150 students and recent college graduates who are considering career opportunities in the life sciences.
Center Awards $25 million to foster job growth in the
Massachusetts Life Sciences Supercluster
For Immediate Release:
Date: December 23, 2009
Contact: Angus G. McQuilken, MLSC VP for Communications
Phone: (617) 921-7749 Email: amcquilken@masslifesciences.com
Waltham, MA – Governor Deval Patrick and the Massachusetts Life Sciences Center announced today that the Center’s Board of Directors has awarded $25 million in Tax Incentives to twenty-eight life sciences companies. The companies receiving tax incentive awards have committed to creating a combined 918 new jobs in the Commonwealth over the coming year.
When I last spoke with Massachusetts Life Sciences Center, President and CEO, Susan Windham-Bannister, the Center was in the midst of celebrating their one year anniversary of the $1 billion, ten year initiative. In 2008 The Center invested $46 million and leveraged an additional $350 million in public and private funds. Since June, the Center has been fairly busy. They have:
• Continued funding for the International Stem Cell Registry.
• Announced the awarding of New Investigator Matching Grants to 10 young scientists.
• Matched 104 interns with 59 life sciences companies within the Commonwealth with The Center’s Internship Challenge.
Just the other day I spoke with Angus McQuilken, Vice President for Communications at Massachusetts Life Sciences Center. We talked about the Center, and the recent initiatives that they have been pursuing. He said that additional investment of $695,000 in the International Stem Cell Registry is a supplement to last year’s investment of $570,000. Since the Obama administration has lifted restrictions on federal funding for embryonic stem cell research and Congress has appropriated $8 billion in NIH research grants; when you combine this recent investment with the $7.7 million investment in the Massachusetts Stem Cell Bank, Massachusetts is very well positioned to compete for federal funds.
Massachusetts Life Sciences Center has also completed the second round of the New Investigator Matching Grants that seeks to support young scientists as they set up their labs and get their research underway. They have provided an additional 10 researchers with grants of up to $100,000 for the next two years that are matched dollar for dollar by the researcher's institution. Angus said that the Center is doing this to attract top scientists to Massachusetts and to keep good young scientists in the field, this second round is in addition to the grants from last year to 11 new investigators, so far assisting a total 21 researchers with $12 million coming from The Center and a total of $24 million when you include the matching funds.
In addition to those initiatives the Massachusetts Life Sciences Center has also started the Internship Challenge program matching college students in The Commonwealth with local life sciences companies and providing a stipend for the summer to those interns. 104 interns have been placed with 59 companies, Angus said, that the program has been more successful than anybody could have imagined. Many of these young companies don’t have the infrastructure to recruit interns for the summer, and the Center has created a user-friendly system where these companies can go out and find talent much more easily. The hope is that funding for the Massachusetts Life Sciences Center will increase by next year so that they will be able to continue and build upon their many initiatives, including the Internship Challenge, which is essential to ensuring a large, qualified workforce for The Commonwealth.
Angus said that the programs that they provide are really targeted at providing the supports that are needed for the Massachusetts life sciences industry. The Center is funding innovative young researchers, they are building new infrastructure to keep resources within The Commonwealth ahead of the game and they are making sure the supply of qualified workers remains overabundant. “The research has to take place so that research can be translated into commercialized products and therapies, so that those products and therapies can be brought to the marketplace,” Angus said. “Each step of the process creates an opportunity to create jobs and leverage private and federal investment in our state.” Angus continued, “Really our goal is to identify gaps where they exist and to help play a role in filling them, whether that be working capital for young companies, providing support for scientists, or helping companies and institutions find a way to collaborate so that translational research can go forward.”
We also talked about the Center providing support for the establishment of a Professional Science Masters Degree, University of Massachusetts has just received funding from The Sloan Foundation to expand on their operations in that area. This would provide a hybrid degree to increase the pool of people who have the expertise to address both scientific and business opportunities. In addition to the support of workforce development and support for the basic sciences, Massachusetts Life Sciences Center is currently reviewing the 84 applications to the tax incentive program. The Center is going to provide $25 million in tax incentives for life sciences companies; over the ten years of the initiative, that totals $250 million that The Center is going to be awarding. Those awards will be made on September 23, so we’ll just have to wait and see what comes next.
