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Massachusetts Life Sciences Center
 

Massachusetts Life Sciences Center

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The Massachusetts Life Sciences Center ("Center") is a quasi-public agency of the Commonwealth of Massachusetts, created by the Massachusetts legislature in June 2006. The MLSC is closely affiliated ...

The Massachusetts Life Sciences Center ("Center") is a quasi-public agency of the Commonwealth of Massachusetts, created by the Massachusetts legislature in June 2006. The MLSC is closely affiliated with the Executive Office of Housing and Economic Development but is not subject to its direct supervision or control.

The Center was established to promote the life sciences within the Commonwealth of Massachusetts. It is tasked with investing in life sciences research and economic development. This work includes making financial investments in public and private institutions growing life sciences research, development and commercialization as well as building ties between sectors of the Massachusetts life sciences community.

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    Massachusetts Life Sciences Center Massachusetts Life Sciences Center Presentation Transcript

    • The Massachusetts Life Sciences Center Science Shaping Our World January 17, 2013 Dr. Susan Windham-Bannister, President & CEO 0
    • Overview About the Massachusetts Life Sciences Cluster Trends and Challenges Driving the Need for Innovation The Massachusetts Life Sciences Initiative: A Strategic Investment in the State‟s Innovation Ecosystem 1
    • About the Massachusetts Life SciencesCluster 2
    • Massachusetts: The Global Leader in Life SciencesThe Massachusetts Life Sciences Cluster: The world‟s leading innovation pipeline: #1 Life Sciences Cluster (Jones Lang LaSalle), and #1 in biotech construction (Richards Barry Joyce) World-class academic and medical institutions leading the way in life sciences research A talented workforce Business-friendly Infrastructure (International airport with 40 airlines, regional rail service, mass transit and five deepwater ports) All industry sectors -- biotechnology, pharmaceuticals, medical devices, diagnostics and bioinformatics Government leadership, through our state‟s 10-year, $1 billion Life Sciences Initiative (enacted by the Massachusetts Legislature in June 2008) 3
    • Life Sciences are Critical to Our Economy  Over 80,000 Massachusetts employees work in the life sciences sectors* 2011  Total employment in the Massachusetts life sciences sectors continues to grow 53,253 despite a challenging economy 42% Growth Since 2002 2002 37,490 Employment growth in the MA biopharma sector*excludes health care deliverySource: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages (QCEW) 4
    • Massachusetts‟ Venture Capital Dollars Encourage Company Start-ups Percentage invested In 2010, at Start-up/Seed Massachusetts Stage 25 5.4%biopharma companies 23.1 2002 received nearly one- 20.8 quarter of all U.S. VC 19.5 20 biotech investment – 16.9 an all-time high. 15.9 15 Percentage Massachusetts‟ 12.0 4.8% 2006medical device firmsreceived 12 % ($286 10 million) The percentage of 5investments in start- 2010 21.9% up and seed stage companies has 0 increased 2000 2002 2004 2006 2008 2010 dramatically Source: 2010 PricewaterhouseCoopers, National Venture Capital Association, MoneyTreeTM Report, Historical Trend Data, MassBio analysis. 5
    • The Massachusetts Drug Pipeline Will Help ImproveGlobal Health Massachusetts Pipeline, by Therapeutic Area Drugs in development in Massachusetts addressnearly every therapeutic area – especially oncologyTherapeutic Area Candidates Genito-Urinary 19 Respiratory 19 Blood 25 Endocrine 29 Dermatology 33 Gastro-Intestinal 36 Sensory Organs 36 Cardiovascular 42 Musculoskeletal 46 Various 57 Central Nervous System 130 Systemic Anti-infectives 134 Oncology 349 Total (R&D) 955 Source: EvaluatePharma® Courtesy of MassBio Industry Trade Association 2012 6
    • Why is Massachusetts So Successful in LifeSciences?Life sciences innovation thrives in 500 430+Massachusetts because Biopharma Biotech of the great Companies 400 concentration of Medtech universities, research 122 122 Companies hospitals, educated Colleges & Universities Universitiesworkers, entrepreneurs,mature companies and a strong investment Top5 Top 5 community. NIH funded st NIH funded 1 in Research Research Educational Education Hospitals Level of 1st in Hospitals workforce (US) Workforce Venture Capital & SBIR funds federal research per worker funds per worker 7
    • Trends and Challenges Driving the Needfor Innovation 8
    • Current Trends and Challenges Create Market Needs Market Trends/Challenges Market Needs/Opportunities  MA Health Reform “2.0”  Combination Products U.S. National Health Reform (ACA)  Collaborations and Consortia  Pressure on Reimbursement  Demonstrating Clinical Value to New Models of Provider and Payor Support Drug Commercialization Organization  Genomics  Threats to Research Funding from U.S. Federal Agencies (e.g., NIH)  Informatics  Population Demographics  Mid-level Skill “Solutions”  Re-shoring to U.S. of Advanced  Open Innovation Manufacturing  Personalized Medicine and Cell  “Broken” Model of Drug Discovery Tx and Development  Point of Care Diagnostics and  Emerging Markets and Disease Devices Profiles  Regulatory Changes  Remote Sensing and Monitoring 9
    • “Big Pharma” Faces Significant Challenges Drug pipelines are running dry Many “blockbuster medicines” are about to lose patent protection Traditional drug-development processes at big pharma are expensive and inefficient  Models have not changed significantly from the late nineteenth century -- synthesize and screen thousands of compounds in search of a few new drug candidates The traditional business model at big pharma also is expensive and inefficient:  Identify promising new blockbuster drugs  Conduct large, expensive clinical trials  If successful, promote the drugs with extensive marketing and sales presence in developed countries 10
    • Manifestations of the Problem Internally developed pipeline productivity at big pharma has decreased significantly -- averaging one new molecular entity a year per company …And… The cost of bringing a new drug to market has continued to rise -- currently estimated to exceed $1 billion ……But…… The timeline for developing and getting a drug to market has not declined -- can take as long as 15 years 11
    • Current Challenges and Opportunities are Creatingan “Innovation Crisis” How do we get “better” at innovation:  Pace  Cost and Risk Reduction  Success Rates  Significant Breakthroughs 12
    • The Massachusetts Life SciencesInitiative: A Strategic Investment in theState‟s Innovation Ecosystem 13
    • The Role of State Government is Both Financial andCollaborative The Innovation Process Discovery Development Delivery The Strategy: Targeted initiatives to strengthen, support and promote highly functioning ecosystems in our key innovation sectors ROLE OF STATE AGENCIES AND QUASI-PUBLIC AUTHORITIES:  Funding  Workforce development  Technical Assistance  Convening and collaboration  Partnerships  Build capacity and infrastructure  Market development  Research and policy 14
    • The Massachusetts Life Sciences Initiative Announced by Governor Deval Patrick at BIO in Boston June 2007 Enacted by the Massachusetts State Legislature and signed by Governor Patrick in June 2008 Announced at BIO in San Diego June 2008 10-year, $1B investment in the Massachusetts life sciences cluster: Sectors Stakeholders • Biotech • Academic Institutions • Pharmaceuticals • Industry • Medical Devices • Industry Associations • Diagnostics • Investors • Bioinformatics • Medical Centers • Non-profit Research Institutes 15
    • The Massachusetts Life Sciences Center:Who We Are and What We DoThe Massachusetts Life Sciences Centerdevelops and offers creative programs thatfund innovation-driven economicdevelopment initiatives in the Massachusettslife sciences cluster, but also may haverelevance for other “innovation” sectors.Mission: Serve as the “hub” of the Massachusetts life sciences Supercluster Encourage innovation through investments in good science and good business Strengthen and protect Massachusetts‟ global leadership position in the life sciences Accelerate the commercialization of promising treatments, therapies and cures Create jobs and drive economic development 16
    • The MLSC‟s Overall Strategy is to Invest in GapClosure Across the Innovation Life Cycle... Discovery Development Delivery The MLSC Strategy: Fund targeted initiatives that reduces barriers, fill gaps and promote collaboration across the life sciences innovation process. Enable MA to “innovate how innovation occurs!” • Promote and fund convening and collaboration • Partner with and leverage private sector stakeholders • Invest in early stage companies (pipeline and external innovation) • Support workforce development and training • Build capacity, infrastructure and unique resources in Massachusetts 17
    • …and Coalesce the Massachusetts Life Sciences“Cluster” into a “Ecosystem” In a high 500 430+ performing Biopharma Biotechinnovation clusters Companies 400 these components 122 122 Medtech Companies work well Colleges & Universities Universities individually and together as an Top5 Top 5 ecosystem st NIH funded NIH funded 1 in Research Research Educational Education Hospitals Level of 1st in Hospitals workforce (US) Workforce Venture Capital & SBIR funds federal research per worker funds per worker MLSC Investments 18
    • MLSC Investment Tools and Programming Budget • 10 years • $1 billion Investment 19
    • The MLSC Board of Directors Secretary of Housing and Economic Development  Gregory Bialecki Secretary of Administration and Finance  Glen Shor President of the University of Massachusetts System  Robert Caret, Ph.D. A CEO of a Massachusetts-based life sciences corporation  Abbie Celniker, Ph.D., CEO, Eleven Biotherapeutics A researcher involved in the commercialization of biotechnology, pharmaceuticals or medical diagnostic products  Lydia Villa-Komaroff, Director and CSO, Cytonome/ST A physician licensed to practice medicine in the Commonwealth and affiliated with an academic medical center  Edward Benz, M.D., President & CEO, Dana-Farber Cancer Institute A person with financial expertise in the life sciences  Joshua Boger, Ph.D., Founder & CEO (Retired), Vertex 20
    • The MLSC Scientific Advisory Board FY „13 CHAIR: Harvey Lodish, Ph.D., Whitehead Institute, and Professor of Biology and of Bioengineering, MIT Academia Venture Capital • Gary Borisy, Ph.D., • David Walt, Ph.D., • T. (Teo) Dagi, M.D., M.B.A. Director and CEO, Marine Biological Robinson Professor of Chemistry Laboratory and Howard Hughes Medical Partner, HLM Venture Partners Institute Professor at Tufts • Jonathan Fleming, M.P.A., Managing • James J. Collins, Ph.D., University School of Medicine Professor of Biomedical General Partner, Oxford Bioscience Partners Engineering, Boston University • Philip Zamore, Ph.D., • Carmichael Roberts, Ph.D., M.B.A. • John M. Collins, Ph.D., Professor, Biochemistry and Partner, North Bridge Venture Partners COO of Center for Integration of Molecular Pharmacology, UMass Medical School • Lauren Silverman, Ph.D., Medicine & Innovative Technology Managing Director of Novartis Option Fund (CIMIT)• Robert D‟Amato, M.D., Ph.D., Judah Folkman Chair in Surgery Entrepreneurs and Director, Center for Macular Degeneration Research , Harvard Medical School and Boston • Alison Taunton-Rigby, Ph.D. Children’s Hospital CEO, RiboNovix, Inc. • Rainer Fuchs, Ph.D., Chief Information Officer, Harvard Industry Medical School • Richard A. Goldsby, Ph.D., • James Barry, Ph.D., • Alan Smith, Ph.D. John Woodruff Simpson Lecturer Executive Vice President & COO, Arsenal Former Chief Scientific Officer, and Professor of Biology, Amherst Medical Genzyme a Sanofi Company College • Dalia Cohen, Ph.D., • Lita L. Nelsen, Founder and President, ALN Associates Director, Technology Licensing • Dale Larson, Director of Biomedical Office, Massachusetts Institute of Technology Systems, Draper Laboratory 21
    • The “Bottom Line”Life Sciences Center‟s Impact: June „08 – December „12 Matching Investments Attracted = $1.02B Job Potential = 8,754 • Corporate InvestorsPublic Dollars Invested/ Committed • NIH • Permanent = $312 M 3 X multiplier • Private Foundations Grants to Academic Organizations and • Institutes Medical Centers • Other Private Grants for “Shovel Investors Ready” Capital • Building Trades Projects • Academic Institutions Investments in Life Sciences Companies 22
    • Strengthening our World Class Academic InstitutionsLife Sciences Center Research Matching Grant Program: accelerating thetranslation of treatments and therapies “from the research bench to thebedside” Supporting promising scientific research ($13.6 million - matched dollar for dollar) Funding 21 new investigators ($5.1 million) Helping five universities and academic medical centers compete for top faculty ($3.75 million) Funding research collaborations between eight industry and academic partners ($4.8 million) 23
    • Helping Life Sciences Companies GrowAccelerator Program: Tax Incentive Program: Working capital for early-stage life  Incentives for companies to locate and growsciences companies jobs in Massachusetts $15.1 million in loans awarded to  Center can commit up to $25 million/yeartwenty –four early-stage companies  Companies commit to creating a certainSBMG Program: number of jobs in the year following award Funding to match federal small Fifty-four (54) active awards totaling $56.7business grants (SBIR & STTR) million to companies that have created or are promising to create more than 2,000 jobs. $4 million awarded to eight life sciencescompaniesBusiness Plan Competitions: Mass Challenge - $100,000 sponsorMIT $100K Competition - $10,000sponsorBoston University - $5,000 sponsorWorcester Polytechnic Institute - $5,000sponsor 24
    • Supporting Workforce Development in the Real World:Internship Challenge Program Objective: Increase interest , skill development and employmentreadiness for life sciences careers by providing “real world” experience Funds interns working at Massachusetts companies with fewer than 100 employees Nearly 1,000 interns representing 117 different colleges and universities have been placed at 307 companies across the state More than 160 participating interns have been offered full or part-time jobs at the conclusion of their internships 25
    • Supporting Workforce Development in Classrooms:Equipment & Supplies Program for Skills Training andEducation MLSC program for:  Vocational technical schools  Community colleges  Workforce training organizations Awards grants of up to $250,000 per institution for equipment and supplies that support life sciences training Industry match is required for funding above $100,000 First round of awards made Feb 23, 2011, Second round December 19, 2012 Awards made to 63 institutions across Dr. Susan Windham-Bannister, Ph.D., President & CEO, Massachusetts Life Sciences Center, and Lt. Governor Tim Massachusetts; $6.6 million investment Murray observe a biology student checking results from an experiment at Nashoba Valley Technical High School in  Over $1 million in additional “matching” Westford, where the second round of equipment and supply matching grants from the MLSC was announced on Dec. 20, funds provided by industry sponsors 2012. 26
    • Making Massachusetts “Life Sciences Ready” To date the Center has committed $194M to twelve capital projects  Wastewater Project at Framingham Technology Park  Renovation of the Loeb Lab at the Marine Biological Laboratory  New England Regional Biosafety Laboratory at Tufts‟ Cummings School of Veterinary Medicine  The Albert Sherman Center at the University of Massachusetts Medical School  Gateway Park in Worcester  Joint Center for Personalized Cancer Therapy at UMass Boston  UMass Dartmouth Biomanufacturing Center  Dana-Farber Molecular Cancer Imaging Center  Joslin Translation Center for the Cure of Diabetes  Museum of Science Boston “Hall of Human Life”  UMass Lowell Emerging Technologies and Innovation Center  Massachusetts Accelerator for Biomanufacturing (MAB) 27
    • MLSC Investments Have Contributed to the State‟sAbundant Laboratory Space….Life Sciences Center investments have helped fund the creation ofmore than one million square feet of new laboratory andmanufacturing space. 18,437,000 17,800,000 Since 2007, nearly 2.4 16,780,000 17,021,000 millionsquare feet of 16,064,000 commerciallab space has been added to the state‟s inventory through new construction and renovations 2007 2008 2009 2010 2011Source: Colliers Meredith & Grew, Life Science Review, 2007-2011 Courtesy of MassBio Industry Trade Association 2012 28
    • …and Incubator Space to Support the Growth of NewLife Sciences Companies Across the State Tufts University Biotechnology Transfer Center M2D2 at UMass Boston Massachusetts Biomedical InitiativesCape Ann Business Incubator 29
    • MLSC Neuroscience Consortium (launched June 2012)Objective: Create a pioneering new model of collaboration designed toleverage Massachusetts’ rich neuroscience environment to:  Accelerate pre-clinical research available to the pharmaceutical industry  Introduce academic researchers to targeted research  Facilitate new models of industry-academic partnership Massachusetts‟ basic neuroscience, translational, and clinical research distributed across more than a dozen world-renowned institutions amounts to what may be the highest density of neuroscience research in the world. Neuroscience Consortium Charter members:  Abbott  Merck  Biogen-Idec  Pfizer  EMD Serono  Sunovion (Dainippon  Janssen Research (Johnson and Sumitomo) Johnson) First Solicitation for Proposals was Released September 24, 2012. Nearly 100 proposals received!! 30
    • International Pre-Commercialization Program Objective: Promote late stage Approach: industry R&D collaborations  Partner agencies with funding and between a Massachusetts scientific review authority implement the company and an international collaboration with the MLSC company with joint funding  Competitive solicitation used to select the provided by the MLSC and an most promising project(s) proposed by international partnering agency teams consisting of a Massachusetts- based and non-U.S. based companyObjectives:  Program focuses on collaborative life sciences projects in late R&D or Promote and motivate collaboration development between life sciences companies in Massachusetts and other countries  Participating companies must each Facilitate partnerships between articulate their role in executing the companies in Massachusetts and proposed project other countries to execute exciting  Massachusetts companies will receive new projects funding from the MLSC; international Provide joint funding to subsidize the company will be funded by relevant costs and accelerate the execution of Partner agency these projects  Each of the participating companies will provide matching funds 31
    • International Partnership Assistance Portal (IP-ap)Objective: Make it easier for international companies to identify andpursue potential partnerships with Massachusetts companies. Free, password-protected, cloud-based portal -- Create your user profile at https://partnering.masslifesciences.com Open to MA-based life sciences companies and international life sciences companies Companies describe their business and qualities they are seeking in a partner Searchable database - MA companies can search MA and international companies, and international companies can search MA companies Massachusetts is open for collaboration: 24/7, 365 days a year. 32
    • Keeping in Touch www.masslifesciences.com • News updates • Program Information • Application portal Life Sciences Center Email List • 4,200 recipients • Weekly event listings • Sign up today! 33