Massachusetts biopharma firms raised a record $5.8 billion in venture capital last year Jonathan Saltzman © David L. Ryan Kendall Square in Cambridge, epicenter of the state s robust biotechnology industry.
Buoyed by the industry’s response to the COVID-19 pandemic, Massachusetts drug makers raised a record-breaking $5.8 billion in venture capital last year, nearly double the sum of 2019 and surpassing the previous high of $4.8 billion in 2018, according to a new report by a trade group.
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As biopharma firms had three vaccines cleared for use in the US since the coronavirus emerged in December 2019 ― including one from Cambridge-based Moderna ― investors seemed eager to fund promising startups, said the report by the Massachusetts Biotechnology Council.
Massachusetts biopharma firms raised a record $5 8b in venture capital last year
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Burlington officials have been working over the past few years to encourage the growth of the biotechnology and life science industries in town. Azzur Cleanrooms on Demand (Azzur COD) is the latest company to join the community. It is set to expand into the office space at 60 Blanchard Road this summer.
What is Azzur COD
Azzur COD rents out cleanrooms to life science startups. Cleanrooms are highly sanitized environments in which scientists can conduct research without fear of accidental contamination. Christine Kressirer, the senior director for Azzur COD Burlington, explained that life science startups that are not able to construct their own cleanrooms typically have to partner with a contract manufacturing organization, which is often a lengthy and expensive process that can slow the progress of their research.
Alice Pomponio Named Managing Director of American Cancer Society s BrightEdge
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ATLANTA, Jan. 19, 2021 /PRNewswire/ The American Cancer Society today announced that life sciences industry leader Alice Pomponio has been named managing director of BrightEdge, the ACS philanthropic impact fund that invests in companies to accelerate the Society s mission to fight cancer. Pomponio has served as a member of the board of directors of the American Cancer Society Cancer Action Network (ACS CAN), the Society s advocacy affiliate, two-time chair of ACS CAN s Boston Research Breakfast, and as chair of the ACS Eastern New England Board of Directors.