IDBS has ribbon-cutting ceremony in Burlington, Mass.
Angus Mcquilken of the Massachusetts Life Sciences Center talks about the expansion of the bioinformatics company and the bio convention coming to Boston June 18-21
Machine Generated Transcript
-- Governor Patrick letter ribbon cutting for expansion at a British based life sciences oriented company that has located at US headquarters in Burlington Massachusetts. And joining us tonight for a monthly spotlight on life in biosciences in Massachusetts is Angus McCall and vice president of the Massachusetts. Life sciences center I think you would have to agree it beer companies -- BS what do they do. So they're a bio informatics company they create software that can analyze large sets of healthcare data to improve patient care. So for example in a partnership for Dana Farber Cancer Institute to advance their work and personalized medicine to improve cancer care for patients. So you cut the ribbon today and it's always excited when you do this it's a company that already had decided to located at locate its US headquarters here but is expanding right. Yeah and this story really directly involves Governor Patrick -- ends of the center and other state officials met with this company at the -- the national convention last year in Washington DC. Shortly there after they made their decision to expand in Massachusetts and Adam Dunn so their double there and account -- eight employees to sixteen. With plans for further growth. -- let's see if they grow more you mentioned bio bio is coming to Boston this year it's enormous and significant. I know people and you want people live locally in companies to get involved what can you do with this point now's the time to plan. Yet this is the State's best annual opportunity to showcase herself as a global leader in life sciences 151000 life sciences leaders from all over the world will be there in Boston. And are ways to get involved people can attend. We -- many people from the area will there -- opportunities to volunteer if you volunteer for two days he can get a free pass for the show for two days. They're also opportunities for exhibiting for companies -- the Booth there. And it's going to be a career fair open to all job seekers or interest in finding employment -- unsuccessfully to find information welcome to your website go to our website like sciences -- dot com or you can go to -- convention don't work it's going to be in June June 18 through 21 how many people expecting this time. About 151000 is spend 151000 individuals yes get relief from all over the world. Also tonight you're agency recently gave. Three -- so called accelerator loans to three companies is an ongoing program what are the loans and would you give to. Sure this one of the things we do with the scent it would provide working capital to promising early stage companies and recently threw a competitive round we chose three new ones in December to invest and their interest in companies one is called intelligent biosystems. They're based in Waltham. They are a company that does DNA sequencing increased technology for research labs. Bowler Riyadh based in Wellesley. They create a novel medical device that will actually expand in the stomach to reduce appetite and -- and obesity which is you know is a major public health from this country. And then paragon it's really interest in company they're creating something called a -- Which is the next generation device to transport transplanted organs to better protect those organs and extend their life. So this is money they can -- to grow and I know you've been lending us money in this program for awhile how's the experience been so for these companies doing -- they -- the money back. -- the results have been good to to the companies have already paid back their loans with interest the best example is good start genetics which we funded in 2009. Now that we spacing and I Cambridge they -- 120 employees their products about to hit the market. -- next generation genetic test for a prospective parents and it's it's great to have you here thanks for bringing this up today. Perfect parent could --