Governor Healey Announces $40 Million to Grow Massachusetts Life Sciences Industry, Create More Than 1,600 Jobs
Massachusetts Life Sciences Center awards tax incentives to 38 companies to expand and create jobs across Massachusetts
DEVENS — Governor Maura Healey announced nearly $40 million in tax incentives for 38 life sciences companies that are expected to create 1,644 new jobs across Massachusetts.
The awards, made through the Massachusetts Life Sciences Center’s Tax Incentive Program, support companies that are expanding their research, development and manufacturing operations in Massachusetts. 31 of the 38 companies receiving awards are expanding outside of Boston and Cambridge and account for 71 percent of the new jobs expected to be created through this round of awards.
Economic Development Secretary Eric Paley joined MLSC Interim CEO Liz Graham and local officials to announce the awards at SMC Ltd. in Devens.
“Massachusetts leads the world in life sciences because we invest in the people and companies that are creating the jobs, treatments and technologies of the future,” said Governor Maura Healey. “These investments will help 38 companies grow here in Massachusetts and create more than 1,600 new jobs in communities across our state. We are going to keep competing for jobs, supporting innovation and making sure Massachusetts remains the best place to start and grow a life sciences company.”
“Our life sciences industry supports good jobs and economic growth in communities across Massachusetts,” said Lieutenant Governor Kim Driscoll. “These investments are helping companies expand, hire more workers and continue developing new technologies that can improve people’s lives. We’re proud to support their growth here in Massachusetts.”
The MLSC Tax Incentive Program supports life sciences companies engaged in research and development, commercialization and manufacturing in Massachusetts. The program provides incentives to companies of all sizes that commit to creating and retaining new, long-term jobs in the state. Since the Massachusetts Life Sciences Center was established, companies participating in the program have committed to creating more than 22,300 jobs.
“The awards reflect our commitment to scaling life sciences companies here in Massachusetts. These companies reinforce that Massachusetts is the best place to invest, expand, and build for the future,” said Economic Development Secretary Eric Paley, co-chair of the MLSC Board of Directors. “By helping these awardees deepen foundations in the Commonwealth, we’re strengthening our competitive position and supporting sustained growth throughout the industry.”
“Massachusetts’ life sciences ecosystem drives our state's economy while strengthening our reputation as the national leader in life-saving scientific advances and research,” said Administration and Finance Secretary Matthew J. Gorzkowicz, co-chair of the MLSC Board of Directors. “The awards we’re announcing today are strategic investments in this critical sector that will create jobs and spur innovation.”
“The MLSC’s Tax Incentive program is about helping life sciences companies reach the pivotal milestones that will move their innovations forward,” said MLSC Interim CEO Liz Graham. “For today’s awardees, that means adding the talent and capabilities needed to advance promising discoveries, bring new technologies closer to patients, and translate innovation into real-world impact.”
“We are honored to be recognized by the Massachusetts Life Sciences Center and appreciate its investment in SMC’s continued growth,” said Chetan N. Patel, CEO and Founder of SMC Ltd. “We are making significant investments in our Devens facility to support new pharmaceutical programs and expand our capabilities. The MLSC award will be a meaningful catalyst for that growth, helping us expand our facility, grow our team, and strengthen SMC’s role as a trusted manufacturing partner for innovative healthcare companies.”
This year’s recipients include companies working in artificial intelligence, women’s health, therapeutics, diagnostics, medical technologies, research and development and biomanufacturing.
The recipients include:
Company | Expansion Location | Incentive Amount | Job Commitment |
Alloy Therapeutics Inc. | Waltham | $180,000 | 10 |
Ardelyx Inc. | Waltham | $277,500 | 15 |
AstraZeneca Pharmaceuticals LP | Cambridge | $900,000 | 50 |
Bristol-Myers Squibb Company | Devens | $2,875,000 | 125 |
CBSET Inc. | Lexington | $660,000 | 33 |
Cogent Biosciences Inc. | Waltham | $360,000 | 20 |
Dash Bio Inc. | Waltham | $285,000 | 12 |
Dyne Therapeutics Inc. | Waltham | $937,500 | 50 |
Eyepoint Inc. | Northbridge | $1,000,000 | 40 |
Gentuity LLC | Sudbury | $276,000 | 15 |
Insulet Corporation | Acton | $10,000,000 | 250 |
IPG Medical Corporation | Marlborough | $195,000 | 10 |
Kailera Therapeutics Inc. | Waltham | $900,000 | 50 |
KalVista Pharmaceuticals Inc. | Framingham | $324,000 | 18 |
Kymera Therapeutics Inc. | Watertown | $630,000 | 35 |
Lexington Medical Inc. | Bedford | $180,000 | 10 |
Lila Sciences Inc. | Cambridge | $3,600,000 | 200 |
Madrigal Pharmaceuticals Inc. | Waltham | $900,000 | 50 |
Mercy BioAnalytics Inc. | Waltham | $120,000 | 5 |
Monte Rosa Therapeutics Inc. | Boston | $720,000 | 40 |
Nanopath Inc. | Cambridge | $288,000 | 12 |
Olaris Inc. | Framingham | $125,000 | 5 |
Pramand LLC | Burlington | $257,500 | 10 |
Rapport Therapeutics Inc. | Boston | $483,000 | 21 |
Rentschler Biopharma Inc. | Milford | $517,500 | 23 |
Repligen Corporation | Marlborough | $415,000 | 20 |
Rhythm Pharmaceuticals Inc. | Boston | $462,500 | 25 |
Sanegene Bio USA Inc. | Woburn | $235,000 | 10 |
SMC Ltd. | Devens | $1,350,000 | 54 |
Spear Bio Inc. | Woburn | $235,000 | 10 |
Terrestrial Bio Inc. | Woburn | $1,080,000 | 36 |
TransMedics Group Inc. | Andover | $1,860,000 | 62 |
Triveni Bio Inc. | Watertown | $288,000 | 12 |
Verastem Inc. | Needham | $437,000 | 19 |
Vericel Corporation | Burlington | $1,100,000 | 50 |
Vertex Pharmaceuticals Inc. | Boston | $3,025,000 | 121 |
Werfen | Bedford | $1,303,500 | 66 |
Zoll Medical Corporation | Chelmsford | $1,100,000 | 50 |
The MLSC jointly administers the Tax Incentive program with the Massachusetts Department of Revenue, which oversees the technical administration of the incentives. Awardees are required to maintain job commitments over a three-year period. The program includes regular reporting requirements for awardees to document jobs created as a result of the incentive. The MLSC has continued to use the Tax Incentive program to leverage diverse life sciences assets across Massachusetts and encourage growth, expansion, and retention on a statewide basis.
In November 2024, Governor Maura Healey signed the Mass Leads Act, an economic development bill building on the success of the state’s renowned life sciences sector. The legislation increased the statutory cap from $30 million to $40 million for life sciences tax incentives and made targeted reforms to strengthen the program.
