BioScale, Inc., Joined by Lieutenant Governor Timothy Murray, Officially Opens a New and Expanded Facility in Lexington, Massachusetts
LEXINGTON, Mass.--(BUSINESS WIRE)--BioScale, Inc. today joined with Lt. Governor Timothy Murray, Massachusetts Life Sciences Center President & CEO Susan Windham-Bannister, biotech industry representatives and state and local leaders to celebrate the Massachusetts-based company's official opening of a new 30,000 square foot laboratory and manufacturing facility in Lexington, MA. In addition to Murray and Windham-Bannister, today's ribbon-cutting ceremony included State Representatives Jay Kaufman and Thomas Stanley, MassBio Vice President of Policy & External Affairs John Heffernan, and CEO of BioScale Mark Lundstrom.
The new BioScale facility will house R&D, applications development and instrument manufacturing of novel analytical tools enabling advancements in the cutting edge protein research being conducted by pharmaceutical and biotech companies worldwide. The company also will manufacture its consumable MEMS sensor cartridges and reagents used in the analysis of proteins at the Lexington site.
"We're excited about our new home in Lexington," said BioScale CEO Mark Lundstrom. "The positive response we have received from the launch of BioScale's ViBE product line required us to grow our facility and functionality. We're building out additional sales, marketing, manufacturing, and application development areas. This growth required a new, better equipped, and larger facility to enable the company to realize its full potential. We expect the pace of research into complex diseases will continue to accelerate as researchers uncover biomarkers that elucidate the diagnosis and improve treatment options. We believe the power and performance of the ViBE platform will allow pharmaceutical and biotech companies to cut drug discovery and development times and, one day, allow physicians to personalize treatments and provide more informative diagnostic tests."
"BioScale is an example of the type of fast-growing company that makes Massachusetts a global leader in the life sciences," said Lieutenant Governor Timothy Murray. "As the Patrick-Murray Administration focuses on creating jobs in every region of the Commonwealth, I am encouraged by BioScale's growth as well as other life sciences companies that are expanding along the Route 128 belt and beyond, bringing the economic benefits of our life sciences Supercluster to communities across Massachusetts."
BioScale secured $25M of Venture Capital funding in 2010 and was selected as one of the 2011 Top 300 Global funded IDEAS companies. The company currently employs nearly 50 professional, scientific and manufacturing employees and consultants. As the company executes its commercialization plans in 2011, it expects to see accelerated employee annual growth through 2012 with many of the roles in supply chain, sales, service, marketing, manufacturing and operations. In addition, BioScale utilizes the strong internship programs of the local university networks in Cambridge and Worcester for its engineering, marketing and laboratory operations. The company was co-founded by Mark Lundstrom and three MIT professors. Its proprietary technology is an integration of aerospace science developed at MIT and licensed technology from Charles Stark Draper Labs.
"It was a pleasure to join BioScale for the grand opening of their new Lexington facility today," said Susan Windham-Bannister, President and CEO of the Massachusetts Life Sciences Center, the quasi-public agency charged with implementing the state's ten year, $1 billion Life Sciences Initiative. "As our life sciences companies grow, they are finding that many areas of our state offer the space, infrastructure and resources they need to succeed. BioScale is joining companies like Shire HGT and Cubist in choosing Lexington as a great place to do business."
"BioScale's expansion here in Massachusetts is one great example of why Massachusetts continues to be the world-leading area for cutting-edge research and development," said John Heffernan, Vice President of Policy & External Affairs. "The new protein analysis laboratory and manufacturing facility play a vital role in this industry's commitment not only to creating good jobs here in the Commonwealth, but to helping biotech and pharmaceutical companies advance their quest to discover the therapies and cures that will change the lives of patients around the globe."
"I'm thrilled that yet again, another top Life Sciences company has chosen Lexington for their headquarters. They join an impressive list of companies that recognize the many benefits of our community," said State Representative Jay Kaufman.
"BioScale's decision to expand its company will provide substantial contributions to the community of Lexington and the Commonwealth of Massachusetts," said State Representative Thomas Stanley. "There are many economic and social benefits resulting from this expansion, including the creation of new jobs for residents."
BioScale is a life science company that develops, manufactures and promotes a proprietary protein analysis technology to accelerate the discovery, development and production of biological and pharmaceutical products. BioScale's innovative ViBETM platform powered by its AMMPTM (Acoustic Membrane Microparticle) technology enables highly-sensitive detection and quantitation of proteins in complex samples used in pre-clinical and clinical research, bioprocess, patient point-of-care and personalized medicine applications. BioScale is headquartered in Lexington, MA. For more information, visit www.bioscale.com.
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center is a quasi-public agency of the Commonwealth of Massachusetts tasked with implementing the Massachusetts Life Sciences Act, a ten-year, $1 billion initiative that was signed into law in June of 2008. The Center's mission is to create jobs in the life sciences and support vital scientific research that will improve the human condition. This work includes making financial investments in public and private institutions that are advancing life sciences research, development and commercialization as well as building ties between sectors of the Massachusetts life sciences community. For more information, visit www.masslifesciences.com.
MassBio, a not-for-profit organization that represents and provides services and support for the Massachusetts biotechnology industry, is the nation's oldest biotechnology trade association. Founded in 1985, MassBio is committed to advancing the development of critical new science, technology and medicines that benefit people worldwide. Representing over 600 biotechnology companies, academic institutions, research hospitals, and service organizations involved in life sciences and health care, MassBio works to advance policy and promote education, while providing member programs and events, industry information, and services. For more information, visit www.massbio.org.