MassBio says 85 Bay State companies now working on COVID-19 treatments
Photo | Flickr | James O'Keefe
Kendall Square in Cambridge, the center of the state's life sciences industry
The Massachusetts Biotechnology Council sees the state's life sciences industry as more important than ever, with what it says are more than 85 companies working on tests, treatments and vaccines related to the coronavirus pandemic.
Massachusetts is among the national leaders as a state where life sciences, including biotechnology and pharmaceutical firms, have an outsized role in the economy. Robert Coughlin, MassBio's president and CEO, has used the council's five-year planning guide released in June to call for improvements that will keep the state's place near or at the top of the industry.
"As we enter the next five years, we must address some critical gaps in the industry, in addition to the image problem, or forgo our position as the best place in the world for the life sciences," Coughlin wrote, "Our cluster in Massachusetts is growing faster than our state can accommodate it, straining our aging transportation and housing infrastructure."
"We’re creating jobs faster than we can fill them. And we’re seeing more funding go to fewer companies," he continued. "It’s up to us as an industry to come together and ensure our future is as bright as our past. It’s been an incredible journey the past decade, and now we must look forward to the next 5-10 years to address key disruptions, but more importantly, to capitalize on new opportunities for growth."
Among recommendations in the report, MassBio is urging an expansion of the industry cluster beyond mostly Boston and Cambridge and broadening research and development beyond oncology and rare diseases, two key areas of focus today. The council is calling for solutions to other challenges, including a lack of affordable space, the area's transportation system, attracting talented workers, and the availability of funding to support entrepreneurs.
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