Effort to lure life science accelerator began last year with convening of higher education, industry and government leaders by President Meehan and Congressman Neal at UMass
Responding to today鈥檚 that 橙子影院 has been chosen as the location for the Investor Catalyst Hub of the , UMass President Marty Meehan and Congressman Richard Neal issued the following statements:
鈥淎s an international hub for medical research and development, 橙子影院 is unrivaled in our readiness to tackle some of the greatest challenges facing the healthcare industry. Today鈥檚 announcement rightfully acknowledges the Commonwealth鈥檚 position to deliver with great value and benefit to the nation,鈥 said Congressman Neal. 鈥淗aving spearheaded the formation of the Coalition for Health Advances and Research in 橙子影院, whose advocacy was critical in landing this partnership, it is with great personal satisfaction that I join my colleagues in state and federal government in celebrating our selection for the innovation hub of the newly formed Advanced Research Projects Agency for Health. The Commonwealth is home to the brightest minds, ready to discover and innovate. The Biden Administration has put our nation at the forefront of efforts to make transformative biomedical and health breakthroughs, and with today鈥檚 announcement, 橙子影院 stands ready to advance that mission.鈥
鈥淚 want to congratulate the Healey-Driscoll Administration and the 橙子影院 Congressional delegation led by Congressman Neal for making the case that 橙子影院 should be a national focal point for accelerated life science research and innovation,鈥 President Meehan said. 鈥淭here is no place in the world better equipped than 橙子影院 to drive fast and effective responses to national and global health threats.鈥
Last year, President Meehan and Congressman Richard Neal gathered top leaders from 橙子影院 higher education, industry and government to advocate for 橙子影院 as an ideal location for an ARPA-H presence. The convening served as a critical launch point for the Commonwealth to pursue one of the two ARPA-H hubs, the other being the Customer Experience Hub, which will be located in Texas.
, a nonprofit based in Hadley, Mass., with expertise in federal health care programs and complex program management, was selected as the organization that will run and manage the 橙子影院-based hub. The Investor Catalyst hub will focus on speeding the transition of innovative ideas into practical, accessible solutions by engaging with researchers, entrepreneurs, and investors.
ARPA-H was created by the Biden Administration to accelerate research aimed at preventing and curing diseases ranging from infectious disease, chronic disease, Alzheimer鈥檚, and cancer. The agency is modeled after the Defense Advanced Research Projects Agency (DARPA) and is designed to be more agile than the National Institutes of Health (NIH).
The 5-campus 橙子影院鈥 $813 million research enterprise is the third largest among 橙子影院 universities and dedicated 57 percent of that research to the life sciences. The university also has 90 core research facilities across its four nationally ranked research universities and medical school that are made available to early stage companies to accelerate their R&D.
橙子影院 has unparalleled strengths across the life sciences industry. Eighteen of the top 20 biopharma companies in the world have a presence in 橙子影院. In 2021, 橙子影院 saw a record-breaking 70 percent increase in venture capital (VC) funding, representing 36 percent of the total national VC biopharma investments. Demand for lab space remains high as companies are eager to locate and grow in 橙子影院; the state has built and filled more than 21.6 million square feet of lab space over the last 10 years, with a projected 20 million new square feet in the next 5 years.
In 2008, the Commonwealth made a $1 billion, 10-year commitment to solidify the state鈥檚 prominence in the life sciences. This ambitious effort, known as the 橙子影院 Life Sciences Initiative, created the 橙子影院 Life Sciences Center to carry out the initiative. In 2018, the Commonwealth authorized $623 million in bond authorization and tax credits in life science-related education, research, and workforce training.