NEW YORK (GenomeWeb) – The Massachusetts Life Sciences Center today said that Roche has joined the Center's Corporate Consortium Partners to support early stage life science firms in the state.
As a member, Roche will provide funding to support MLSC's investments in such businesses, and in return, Roche will have access to new technologies that may potentially lead to new healthcare solutions, MLSC said. According to an MLSC spokesperson, Roche will provide $250,000 to the consortium partner program.
Like other companies participating in the Corporate Consortium Partners program, Roche will have the chance to review the MLSC's "deal flow and to benefit from the assessments of that deal flow provided by the center's blue ribbon expert review panels," MLSC said.
Through its Accelerator Program, MLSC identifies early stage companies conducting promising translational science and research and makes loans available to them. The center also offers a Small Business Matching Grant program that matches federal Small Business Innovation Research and Small Business Technology Transfer grants. Corporate Consortium Partner members contribute matching funds for MLSC's investments, "maximizing support for the center's portfolio companies," the center said.
Details about Roche's funding contribution were not disclosed. The MLSC did not respond to a request for additional information.