Category: Massachusetts Life Sciences Center
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: February 11, 2010
Contacts:
Dr. Andrew Fox Angus McQuilken
President & Founder Vice President for Communications
Wadsworth Medical Technologies Massachusetts Life Sciences Center
Cell: 508-789-6531 Cell: 617-921-7749
CEO says he’s “paying it forward” for Life Sciences companies in the state
Westborough, MA – Wadsworth Medical Technologies today announced it has replaced its two out-of-state manufacturers and suppliers with companies based in Massachusetts. The Westborough-based medical device company has hired Baril Corporation of Haverhill and G&F Industries of Sturbridge to produce and distribute DermaLOC, its non-invasive, needleless wound closure system. Wadsworth hopes that its decision will help create jobs in Massachusetts and increase the tax base in these communities.
“The decision to relocate our manufacturing and distribution operations to Massachusetts was a no-brainer,” said Dr. Andrew Fox, President & CEO of Wadsworth Medical Technologies. “There are so many networks within the Commonwealth to support the growth and development of small life sciences companies like Wadsworth that it didn’t make sense to deal out-of-state.”
Last year, Wadsworth Medical Technologies received an Accelerator loan from the Massachusetts Life Sciences Center, a quasi-public agency tasked with stimulating the life sciences sector in Massachusetts. Fox says he sees this decision to support Massachusetts manufacturing and supply companies as a way to “pay it forward.”
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.
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.
Massachusetts Lieutenant Governor Timothy Murray joins state and local officials for ribbon-cutting ceremony
FOR IMMEDIATE RELEASE Contact:
Tracey Rice
Ligon Discovery
(617) 453-0952
press@ligondiscovery.com
Broad Institute Spinout is Pursuing Drugs for Intractable Disease Targets
First company that banks amniotic stem cells for families, researchers
MEDFORD, MA (Oct. 22) - Biocell Center, a European biotechnology company that is the only firm to harvest and preserve amniotic stem cells, announced today that it is expanding its tissue bank and research operations to serve families, medical centers and scientists in the United States.
State of the Art, 500,000 Square Foot Research Facility to House Advanced Therapeutics Cluster
