Baker-Polito Administration Announces Awards for Massachusetts Life Sciences Center Initiative for Women Entrepreneurs
Summary
“Supporting MassNextGen has been a meaningful way to contribute toward achieving gender parity in the life sciences industry,” said Sanofi Vice President of Digital Business Development Rachel Sha. Vera Hoffman, a first time biotechnology CEO and Founder of Reveal Pharmaceuticals, has also been able to expand her workforce to allow the company to get closer to the clinic with their safer alternative to toxic, gadolinium-based MRI contrast agent. These awards and future rounds will help fortify the ability of women-led companies to leverage additional sources of capital and support to bring cutting edge innovation to the marketplace. Through public-private funding initiatives, the MLSC supports innovation, research and development, commercialization, and manufacturing activities in the fields of biopharma, medical device, diagnostics and digital health. Since its creation in 2007, the MLSC has strategically deployed over $700 million in Massachusetts, through a combination of grants, loans, capital infrastructure investments, tax incentives and workforce programs.