Mass Life Sciences Center Awards Cambridge Area Companies

Filed in Business, Featured, Local News by on June 2, 2010 0 Comments

masslifesciencesgrantsThe Massachusetts Life Sciences Center recently announced their 2010 Small Business Matching Grant Awards.  The 3 companies awarded include 2 in Cambridge and 1 in Somerville.  One of the main goals of the Small Business Matching Grant Program is to create jobs by helping to commercialize products in the Life Sciences.

Boston Biochem, Inc which is located on Memorial Drive is one of the recipients.  They are focused on facilitating the study of ubiquitin-proteasome with the use of their specialized reagents.  They currently have job openings for a research associate and scientists.

Tetragenetics which is also has their Massachusetts office located in Cambridge.  They also have a couple of job openings for scientists.

Thermedical is the third company receiving money.  They are based in Somerville but do not have any job listings on their website.  Their website seems pretty basic so if you are interested you may actually need to pick up the phone and call them to see if they do have openings.

Each company will receive $500,000 from the Center to match federal small business grant funding that the companies had previously been awarded. The grants represent the first round of awards issued under the Center’s Small Business Matching Grant (SBMG) Program. The three companies that are receiving awards have committed to collectively creating 40 new jobs in the Commonwealth by the end of 2011, including six jobs to be relocated from New York.

Companies in the Cambridge area do tend to benefit from many of the Life Sciences initiatives put forth by the state.  It is a natural fit due to the educational institutions and health care organizations in the area.  The companies had to apply for the program.  The need for funding in these early-stage companies is greater nowadays since access to capital has decreased due to the economic downturn.  This is supposed to be the first round of awards so hopefully more Cambridge area companies will benefit leading to more jobs.

For more details on the $1.5 million awarded by the Mass Life Sciences Center here is a link to their full press release.

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