WALTHAM, MA – The Massachusetts Life Sciences Center (MLSC) announced the launch of the Massachusetts Ramp-Up Program (MassRamp), a new program that will provide grant funding to promising early-stage life sciences companies.
The program will provide supplemental grant funding, on a competitive basis, to companies that have been awarded Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) Phase I grants or contracts from federal agencies. MassRamp aims to bridge the funding gaps associated with the long life sciences R&D cycle, and the high cost of translating research into commercially viable products. Up to $3,000,000 in funding is available for this inaugural round of the program.
The Center will provide awardees a grant of up to $300,000 to help early stage companies cover the costs of direct labor, clinical trials, consultants and subcontractors, materials, supplies and equipment. The award is designed to support activities not covered by the federal grant, provide additional resources to complement an approved federal project, or expand the scope of the federal grant, provided that the MassRamp proposal is based on the same technology approved in the federal award.
“The strength, breadth and variety of early-stage life sciences companies is a critical element of the Massachusetts life sciences ecosystem,” said Travis McCready, President & CEO of the MLSC. “Our young, dynamic companies are a wellspring of innovation that represent future IPOs and serve as a magnet for larger companies seeking strategic partnerships and acquisitions. The MLSC designed MassRamp to help sustain companies with early validation of technologies through what can be a tumultuous stage of research and development. Our awards will help them leverage additional sources of capital to bring cutting edge innovation to the marketplace.”
“The MLSC’s continued support for biotech ventures during their early nonlinear stages is a unique resource sure to promote a vibrant pipeline of new translation,” said Will Adams, President and Chief Scientific Officer of Cambridge-based Riparian Pharmaceuticals, an early stage company discovering therapeutics for vascular health. “Such programs ensure that the region is an obvious choice for new biotech companies.”
Eligible companies must have been awarded a Phase I SBIR or STTR grant or contract from a federal agency for the project for which the company is requesting MassRamp funding. Proposals must focus on human health with an identified commercial product or service. Federal awards must have been made after January 1, 2015.
Applications to the program are due no later than Tuesday, March 28th, 2017 at 12:00 p.m. (noon) EDT via an online submission form on the MLSC website at www.masslifesciences.com. An informational video is available on the Center’s website at www.masslifesciences.com/programs/massramp.