Opportunities in Massachusetts for MVA-members
The collaboration between MassBio and Medicon Valley Alliance (MVA) established as a part of the Life Science Ambassador Program opens up a number of MassBio services that can be utilized by members of MVA.
MassCONNECT is mentorship program focused on creating new companies by helping you to build a robust business network that you can tap into to move your inventions from the lab and into a business. MassBio created MassCONNECT to link new entrepreneurs and founders with seasoned biotechnology professionals and entrepreneurs to:
- Provide industry expertise, evaluate and provide feedback on the commercial feasibility of opportunities (technologies that may serve as the basis for start-up or present a value-adding license opportunity)
- Provide guidance as well as identify strengths, weaknesses, opportunities and threats as a means to commercialize your ideas
The goal is to enable new company start-ups through partnerships with mentors and establish the right connections to industry facilitators. This may result in working with venture capitalists, angel investors, and other financiers who will help launch your company. The service is open for Medicon Valley biotech members and would help especially young companies build a network in Massachusetts while also receiving valuable advice from high-level US industry experts.
MassBio Global Innovation Exchange
MassBio’s Innovation Exchange facilitates the exchange of technology, molecules, diagnostics, and tools out of academia and biotechnology and into large pharmaceutical companies. It circumvents bottlenecks to collaborations like:
- Not knowing who in the industry you should reach out to
- Not knowing who the internal champions are
- Not understanding internal review processes and gate-keeper criteria
- Not knowing what type of information the industry wants to receive
The Exchange works on a push-based mechanism which means that uploaded opportunities of interest are directly routed to the interested pharma company on the back end.
At the moment there are over 300 technologies in the exchange and three large pharma companies signed on to review potential opportunities: Shire, Merck and Takeda. Soon to come on board are Sanofi, BMS, AstraZeneca and Abbott. These pharma companies are actively looking at the Exchange to search and evaluate opportunities as it serves as a one-stop shop for all technologies not just in Massachusetts, but at a global scale as well.
In addition, opportunities to showcase technologies can be added to the Global Innovation Exchange in advance of partnering and networking functions. If a major pharmaceutical is carrying out a Pharma Day, the company will present and meet one-on-one with biotech companies and Universities. Providing a submission into the Global Innovation Exchange prior to the event allows their business development team to view your opportunity. Thus the Exchange will leverage the personal interaction of partnering meetings with the secure confidential exchange of information using cutting edge technology.
Global Gateway Day
Once a year MassBio is organizing a partnering event called Global Gateway Day.
This event, exclusive to international biotech companies, is an intensive partnering session designed to connect MassBio’s international partners with Massachusetts-based biotech & pharma business development contacts, venture capitalists and angel investors.
Scheduled as a half-day event, each biotech company will pitch their idea and company to 15 top pharma BD contacts and VCs. The feedback from last year’s event was extremely positive and encouraging. The next event is scheduled to take place around BioPharm America in 2012.
As one of MassBio’s new partnering programs, Pharma Days are designed to maximize buyer and seller interactions and to prospect for pipeline growth. Pharma Days aggregate over 120 biotech companies in one place at the same time, bringing buyers and sellers together for in person conversations. This highly efficient forum reduces meeting set-up inefficiencies, and provides an excellent opportunity for you to meet with the Pharma Company in an intimate setting. Pharma Days planning starts at least 8 weeks in advance so if there is international interest in attending the event, we will be able to work with you to make it a useful event for you.
Source: Medicon Valley Alliance, 14.12.2011