Glenn Alto, President and CEO, and Ed Connolly, COO, to present “Making it in Massachusetts: A Small Company’s Road to the CMO Market” at Interphex 2012.
For more details and to listen to an audio summary of their presentation visit:
Waltham, MA – The Massachusetts Life Sciences Center announced today that the Center’s Board of Directors has awarded $21.2 million in tax incentives to 28 life sciences companies. The recipient companies have committed to creating more than 940 new jobs in the Commonwealth this year.
The Life Sciences Tax Incentive Program, established in 2008 as part of the state’s ten- year, $1 billion Life Sciences Initiative, authorizes up to $25 million in tax incentives each year for companies engaged in life sciences research and development, commercialization, and manufacturing. The primary goal of the program is to incentivize life sciences companies to create new sustained jobs in Massachusetts.
The Life Sciences Act provides for ten different incentives, which address the significant capital expenditures associated with the life sciences R&D cycle and the high costs of translating research into commercially viable products. This is the third year that incentives have been provided under the program. Twenty-nine (29) companies have active tax incentive awards totaling $38.5 million awarded in 2009 and 2010. Those companies created a total of 1,588 jobs after receiving their tax incentives (1,106 of which were created by the companies under the Program).
Pharmalucence Supplemental New Drug Application (sNDA) for the use of Sulfur Colloid Injection (SCI) in the localization of lymph nodes in melanoma patients has been accepted for review by FDA.
Pharmalucence receives FDA approval expanding the route of administration and use of its Sulfur Colloid Injection (SCI) to include location of lymph nodes in breast cancer patients.