$750K life sciences loan round opens
Courtesy Photo
Travis McCready, president and CEO of the MLSC.
The Massachusetts Life Sciences Center (MLSC) has opened its twelfth life sciences loan round up to Massachusetts companies, with loans of up to $750,000 available to kick-start early-stage businesses.
MLSC's Accelerator Loan Program seeks to provide support to companies at a critical stage of their development cycle. Providing funds enables them to conduct vital research and proof of concept studies, and to attract subsequent investment while improving the odds of bringing cutting-edge innovation to the marketplace, according to the MLSC. To date, the Center has provided $21.7 in loans to 31 companies that have generated more than $200 million in additional equity or acquisition proceeds. Applications are due Feb. 5.
The program fills the gap in early-stage financing, said Travis McCready, president and CEO of the MLSC. McCready said it helps promising young companies grow and commercialize their technologies while creating jobs in Massachusetts.
The MLSC is charged with implementing a 10-year, $1 billion, Massachusetts-funded investment initiative.
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