ACTION Welcomes New Member Massachusetts Biomedical Initiatives!

December 10, 2019

ACTION Innovation Network is pleased to welcome its newest member, Massachusetts Biomedical Initiatives (MBI)! MBI is a private, independent economic development organization that serves as a catalyst for life science and healthcare innovation, supporting companies focused on biotechnology, medical devices, informatics, and biomanufacturing. MBI is the longest running life science incubator in Massachusetts with more than 30 life sciences companies currently in residence in 16,000 sq ft of space in Gateway Park and on Barber Avenue in Worcester, MA, part of the Biomedical Corridor. MBI has graduated another 95 alumni companies, which together employ approximately 839 people in the local life sciences cluster.

MBI has been at full occupancy for 3 years. With a $3.5 million capital grant awarded by Massachusetts Life Sciences Center, MBI is redeveloping the former Cogmedix facility at 17 Briden Street within Worcester’s Gateway Park to expand its business incubation operations, which will include a “Stage II” incubator, bringing it to 20,000 sq ft. MBI hopes to double its current number of startups with the additional 19 suites and office space. The “Stage II” incubator will support 10 suites of around 1,000- 3,000 square feet for growing companies.

For companies like ZATA Pharmaceuticals that has a technology for sterilizing blood for transfusion, the expansion will allow them to grow their operation at the incubator since they are not yet ready for a move to market value real estate. Congratulations are due to ZATA Pharmaceuticals for receiving the 2019 New England Business Association's Innovation Award for life sciences!

In addition to the incubator expansion, the Worcester Business Development Corp. is continuing construction of a biomanufacturing park,The Reactory, at the former Worcester State Hospital.