The life sciences industry in Massachusetts continued to expand in 2021 at a record-breaking pace. New companies launched across the state, and more established companies grew and expanded – all fueled by an unprecedented funding environment. We’re estimating another 20 million square feet of lab and biomanufacturing space to be built out by 2024 along with an additional 40,000 net-new jobs.
At MassBio, we know we must quickly respond to the needs of our 1,400+ members to ensure our member companies have the best chance to be successful. As a trade organization, we succeed when you succeed. We are proud of what we’ve done in 2021:
We signed a ten-year contract extension with Fisher Scientific to continue to provide MassBio members access to industry-leading laboratory equipment, chemicals, and supplies at competitive discounts. We expect this agreement to generate $4 billion in savings for our members. In addition, the agreement offers a turnkey supplier diversity program for our members.
In addition to our exclusive agreement with Harvard Pilgrim Health Care to offer member companies high quality health plans at a lower cost, Edge Benefits expanded this year to offer our members affordable and high performing 401(k) plans along with business lines of insurance.
Recognizing that our members’ office space and event space needs have changed, MassBio has transformed our business and conference center, the MassBioHub, to be even more flexible. We can deliver our members a seamless and successful virtual event or hold in person meetings safely – all at below market rates.
Policy & Advocacy
MassBio continued our pro-active approach to the drug pricing debate by bringing meaningful policy solutions to state and federal policymakers. We also expanded our work to advocate on critical issues such as transportation, housing, and childcare.
MassBio reinvigorated our Innovation Services department in 2021, hiring a new team, running a series of Pharma Days and Partnering Weeks, and launching MassBioDrive, formerly MassCONNECT.
Diversity, Equity, and Inclusion
MassBio expanded our DEI team to two new Senior Directors dedicated to supporting our members’ DEI journeys with resources and advisory services to launch, scale, and strengthen their programs.
MassBio presented an outstanding roster of speakers on a variety of topics such as former Ohio State football player Adam Taliaferro’s inspirational story at the Patient Advocacy Summit and Ramona Sequeira, President at Takeda, on driving corporate social justice at the DEI Conference. At our annual State of Possible Conference, Moderna CMO Tal Zaks provided an in-depth look at Moderna’s meteoric rise from small startup to global household name leading the fight against COVID-19. Our 2021 events were free to members.
Looking ahead to 2022, we have exciting member engagement opportunities planned. Our events – premier conferences, forums, networking, mixers, professional development, and more – will be in-person and will often include a virtual option, providing many opportunities to network and meet fellow members. Plus, we are expanding our roundtables to include other topic areas and creating new convenings by subject matter for our members to participate in and inform our thought leadership and programming. More details to follow soon.
We are grateful to our MassBio members. We hope that you and your employees have taken advantage of our robust membership community and the many member benefits we offered throughout the year. If you are not yet a member, I hope you will consider joining the MassBio community for 2022.
Thank you for the incredible work your organization does each day to improve the lives of patients around the world.