In an interview with Invest:Boston, Kendalle Burlin O’Connell, CEO and president of MassBio, highlighted the strategic partnership with The Termeer Foundation and the proposed $1 billion Life Sciences Initiative, emphasizing MassBio’s role in fostering innovation and supporting early-stage companies in the face of economic challenges.
What key milestones has MassBio achieved in the past year, and how are you advancing biotechnology research?
Last year, we hosted the BIO International Convention with over 22,000 attendees, showcasing the Massachusetts Life Science ecosystem globally. We’re in the third year of the MassBioDrive program, witnessing innovative science and companies from around the world succeed in our ecosystem. We launched the Bioversity Workforce Training Center in the Dorchester neighborhood of Boston, providing training for entry-level jobs in life sciences for community members. We’re now in our third cohort with nearly 40 graduates. Additionally, our second Align Summit in April was a great success, featuring over 50 companies, 100 investors, and where we announced a new strategic partnership with The Termeer Foundation to support founders and young CEOs, promising a bright future for our ecosystem.
How important is collaboration in the life science industry in keeping Massachusetts at the forefront of innovation?
The life science industry in Massachusetts thrives on collaboration between industry, government, and academia. The Life Sciences Initiative, starting with a $1 billion investment in 2008 and reauthorized in 2018 for $640 million, has been pivotal. Last year, Gov. Maura Healey announced plans to reauthorize it, and in March, filed an economic development bill proposing another $1 billion investment over 10 years. The third iteration of the initiative focuses on creating a diverse workforce, establishing leadership in biomanufacturing, and supporting early-stage biotech companies. It’s about attracting and retaining companies in Massachusetts, developed in close collaboration with stakeholders to ensure future readiness.