Tagged: biotech

According to analysis from the Federation of American Societies for Experimental Biology, federal budget cuts to research funding including grants from the National Institutes of Health could mean a loss of $127 million in Massachusetts. New York coulld lose $104 million.

Jennifer Zeitzer, Director of Legislative Affairs for FASEB, said that for the Bay State, the cuts could slow a fast growing life sciences industry.

FASEB estimates that all recipient institutions may have to cut their budgets by 5.1%

FARMINGTON, Conn. (AP) — Connecticut Gov. Dannel P. Malloy is proposing a new $200 million fund to help attract and invest in more bioscience companies to the state. 

The Democrat made the announcement on Thursday during a groundbreaking ceremony for The Jackson Laboratory for Genomic Medicine, which is being built on the grounds of the University of Connecticut Health Center.

Malloy said the new bioscience fund will be part of his two-year state budget proposal, to be presented to the General Assembly on Feb. 6.

  15 thousand people from 3 thousand companies are expected to attend this week’s Biotechnology Industry Organization convention which opened Monday in Boston. The international convention will offer state and local officials a chance to promote Massachusetts as a hub for the life sciences industry.  WAMC’s Pioneer Valley Bureau Chief Paul Tuthill has more.
       

Massachusetts has spent over $300 million in the last four years to boost the life sciences industry with administration officials insisting the initiative has been a great success.  WAMC’s Paul Tuthill reports.

           Patrick administration officials say the life sciences initiative has so far lured dozens of new companies to the state, and led existing ones to expand.   Brian Jamele of the Massachusetts Life Sciences Center says the public money that was spent leveraged almost $1 billion in private investment.