MLSC awards $25M in tax incentives to Mass. life sciences firms

By Mass High Tech staff

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The board of directors of the Massachusetts Life Sciences Center has awarded 28 life sciences companies a total of $25 million in tax incentives.

The first-year Life Sciences Tax Incentive Program is aimed at creating and keeping jobs in Massachusetts, as well as addressing the high costs associated with life science research and development and bringing that research to market. The 28 companies, chosen from a pool of 85 applicants, have agreed to create 918 jobs in the next year. As part of the program, the newly created jobs must be mainted for a minimum of five years.

In addition to the MLSC, the Tax Incentive Program is also being operated by the Massachusetts Department of Revenue.

The MLSC is a quasi-public agency of the Commonwealth of Massachusetts tasked with implementing the Massachusetts Life Sciences Act, a 10-year, $1 billion initiative that was signed into law in June of 2008.

The 28 companies receiving tax incentives are:

Alnylam Pharmaceuticals Inc. (Cambridge) — $300,000
Biogen Idec MA Inc. (Cambridge) — $1,500,000
Constellation Pharmaceuticals Inc. (Cambridge) — $513,252
Cubist Pharmaceuticals Inc. (Lexington) — $1,740,000
Dyax Corporation (Cambridge) — $100,000
Facet Solutions (Hopkinton) — $300,000
FoldRx Pharmaceuticals Inc. (Cambridge) — $510,000
Genzyme Corporation (Cambridge/Framingham) — $6,000,000
GTC Biotherapeutics Inc. (Framingham) — $300,000
Hologic Inc. (Bedford) — $220,000
Infinity Pharmaceuticals Inc. (Cambridge) — $540,000
InfraReDx Inc. (Burlington) — $630,000
Interlace Medical Inc. (Framingham) — $300,000
Lightlab Imaging Inc. (Westford) — $188,951
Merrimack Pharmaceuticals Inc. (Cambridge) — $1,500,000
Morgan Advanced Ceramics Inc. (New Bedford) — $570,000
NeuroMetrix Inc. (Waltham) — $300,000
Nova Biomedical Corp. (Waltham) — $300,000
OmniGuide Inc. (Cambridge) — $540,000
Organogenesis (Canton) — $245,240
Pharmasphere LLC (Worcester) — $360,000
Sepracor Inc. (Marlboro) — $750,000
Shire Human Genetic Therapies Inc. (Lexington) — $6,277,057
STD Med Inc. (Stoughton) — $121,000
Still River Systems Inc. (Littleton) — $300,000
TEI Biosciences Inc. (South Boston) — $27,000
Tolerx Inc. (Cambridge) — $300,000
Zoll Medical Corp. (Chelmsford) — $267,500

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