The collapse of Silicon Valley Bank has sent shock waves through our industry, both here in Massachusetts and beyond. We know that many of our members have been severely impacted by such a sudden and unexpected development.
Please know that MassBio is working tirelessly to explore all options on behalf of our members. Since Friday, I have been in constant communication with public officials at the state and federal level, along with other industry leaders, about the potential impact of this situation on our industry and our member companies. These conversations are continuing today to determine how public and private sectors can work together to provide short-term solutions to companies that are most affected, if necessary.
This is an incredibly dynamic situation with no clear answers yet. As things progress, we will keep you apprised of what we learn and the options that might exist as soon we have more information.
In the meantime, if you have any immediate questions or if it would be helpful to talk with us directly about what this means for your organization, please contact our team at membership@massbio.org. We are always here to support you and your team as this situation unfolds.
Thanks,
Kendalle Burlin O’Connell
CEO & President, MassBio