HUMAN CAPITAL FISCAL YEAR 2019 ANNUAL REPORT INNOVATION CAPITAL GROWTH CAPITAL INTELLECTUAL CAPITAL The capital of scientific revolution. Fiscal Year 2019 Annual Report • Massachusetts Life Sciences Center • i BOARD OF DIRECTORS TABLE OF CONTENTS A LETTER FROM THE INTERIM PRESIDENT & CEO Michael J. Heffernan Co-Chair; Secretary, Executive Office for Administration & Finance A Letter from the President & CEO ...........................................................................................1 Mike Kennealy Co-Chair; Secretary, Executive Office Vision & Strategy: The Capital of Scientific Revolution ......................................................2 The Patients Are Waiting of Housing & Economic Development Fiscal Year 2019 Highlights and The Bottom Line ..............................................................3 Gary P. Kearney, MD Around the globe, billions of patients and their loved ones await advances in health President, Longwood Urological Associates Human Capital care that will produce the products, devices, and therapies to alleviate suffering, Marty Meehan Internship Challenge: Enhancing Career Exploration improve treatment, and save lives. Much of that attention falls on Massachusetts, as President, University of Massachusetts and Expanding the Talent Pipeline ............................................................................................4 the world looks to our ecosystem to deliver the breakthroughs that further unlock our Peter Parker understanding of human physiology, harness the power of data science, and work Project Onramp Launch: Accelerating Workforce Diversity .............................................5 Managing General Partner, BioInnovation across scientific disciplines to improve patient outcomes. Capital & Founder, LabCentral High School Apprenticeship Challenge: Creating Experiential This remains our mindset as we write the next chapter of the Massachusetts Life Pam Randhawa Learning Opportunities .................................................................................................................6 CEO & Founder, Empiriko Corporation Sciences Center, following the passage and signing of An Act Providing Continued Championing Biotech in Brockton .............................................................................................7 Investment in the Life Sciences Industry in the Commonwealth. This legislation authorizes MLSC STAFF TEAM A STEM District Approach: Supporting Education Equity ................................................8 the investment of up to $623 million in bond authorization and tax credits over five years in Travis A. McCready Timothy J. McGourthy education, research and development, and workforce training. With this nearly 25 percent President & CEO Innovation Capital Interim President & CEO increase in the Center’s authorized capital and tax funding, we carved a path forward for MLSC Shannon Ambrose New Seed Fund Launches to Catalyze Life Sciences Innovations new opportunities to support Massachusetts’ vibrant life sciences ecosystem in four areas: Financial & Business Systems Analyst in Underserved Regions of Massachusetts ...........................................................................9 Deputy Secretary Monica Anc Executive Office of Housing • STEM education and workforce development Bits to Bytes: Data Science to Solve Complex Manager of Industry Strategy and Economic Development • Innovations and technologies that improve patient outcomes and lower patient costs & Investments Healthcare Concerns ...................................................................................................................10 Danielle Collins • Cutting-edge shared infrastructure and capabilities that advance the R&D enterprise Office Administrator New Brain Imaging Techniques to Better Understand Diseases Like CTE and Alzheimer’s ..........................................................................................................11 • Convergence technologies that marry biology, data science, and engineering Meghan Gerardo Senior Marketing Associate Increasing Access to Innovative Treatments for the Patients Toward these goals, we are driven by our foundational principles of regionalization Jennifer Griffin, PhD and Communities in Western Massachusetts ...................................................................12 Vice President, Industry Strategy and equity, and our core belief that the entire Commonwealth can benefit from life & Investments Growth Capital sciences endeavors. Christopher Gilrein This past fiscal year offered us the chance to take impactful steps toward leveraging Supporting A Thriving Environment of Early-Stage Activity ........................................13 Director of Business Development those opportunities on a broad scale. We ran programs investing in people, places, Nancy Goryl Fueling Women-Led Ventures.................................................................................................14 and partnerships, representing more than $76 million in support of job growth, Senior Grants Analyst Tax Incentives: Catalyst for Innovation and Growth talent development, and entrepreneurial growth throughout the Commonwealth. Sandhya Iyer Associate Director of Business in the Life Sciences Across the Commonwealth ...............................................................16 We celebrated our history and achievements, while also charting new programs and Development Notable Explansions and Arrivals to Massachussets, initiatives to ensure that Massachusetts remains the global leader in the life sciences Ryan H. Mudawar the Life Sciences Hub .................................................................................................................18 despite intensifying competition. Senior Director, Academic Amidst it all, we recognize that what separates the Massachusetts ecosystem & Workforce Programs Intellectual Capital Ciara Murphy from those in other states and countries is our culture, a potent combination of capital, Senior Staff Accountant Catalyzing Biomanufacturing Innovation .............................................................................20 collaboration, political and civic leadership, public policy, and unbridled enthusiasm to Beth Nicklas, Esq. Supporting the Broader Life Sciences Community ..........................................................21 positively advance human health. Together, with your support, we hope to remain the General Counsel & Vice President capital of scientific revolution for this generation and generations to come. for Academic and Workforce Programs Appendices Cheryl Purnell Senior Education & Workforce Associate Financial Summary ......................................................................................................................22 With gratitude, Carla Reimold, PhD Fiscal Year 2019 Investments ..................................................................................................23 Director of Industry Strategy & Investments Certified Life Sciences Companies .........................................................................................25 Cheryl Sadeli, CPA, CGMA Capital Awards ..............................................................................................................................26 Vice President of Finance Joseph Sullivan Academic and Workforce Program Diversity Statistics ..................................................28 Timothy J. McGourthy Director of Public Affairs Internship and Apprenticeship Host Companies ..............................................................29 Interim President & CEO, MLSC & Communications Deputy Secretary, Executive Office of Housing Number of Interns ........................................................................................................................32 Sharon Tapper and Economic Development Operations Director & Executive Assistant to the CEO High School Interns by School Martha A. Waldron High School Interns by District Vice President of Marketing College Interns by School & Communications Annie Walsh Senior Program Associate Fiscal Year 2019 Annual Report • Massachusetts Life Sciences Center • 1 VISION & STRATEGY FISCAL YEAR 2019 HIGHLIGHTS The Capital of Scientific 76% total investment in job creation incentives through the Tax Incentive Program going toward Revolution expansion efforts beyond Greater Boston Here in Massachusetts, we share constitutions and covenants that transcend centuries. We are forever joined by the ideals of those industrious, ingenious few who first sought our shores. United in their conviction that there was 11,000+ students served via a new targeted STEM District initiative providing $1.14 million more of life to be discovered and made in fellowship with a commitment to in STEM equipment and professional development across five under-resourced school districts the Commonwealth, it is here that we have seen revolutions and age-defining breakthroughs. Up to $1 million capital investment available through the new Seed Fund to bolster Human Capital Investing in the next generation of life science professionals promising life sciences start-ups in communities with individual investments up to $250,000 in convertible is at the core of how we fulfill our mission, with a strategic eye toward readying notes our workforce for the jobs that the life sciences industry continues to bring to Massachusetts. $13.8 million capital funding to support new initiatives catalyzing biomanufacturing