At the 2023 BIO International Convention BIOQuébec and MassBio agreed to extend their existing memorandum of cooperation and collaboration for a 3-year period. This agreement, originally initiated in 2017 and renewed in 2019 at the same conference aims to facilitate business ties between their respective members and support the market development initiatives of both Québec and Massachusetts-based biotechnology sector companies.
"Over the past six years, MassBio and BIOQuébec have established an invaluable collaboration that allows BIOQuébec member companies to benefit from significant advantages when visiting the Boston/Cambridge region. These benefits enable them to develop a strong and diversified business network and create substantial and important connections to support their success. The state of Massachusetts is known for its dynamic life sciences industry which provides leverage for our companies seeking growth opportunities. We are obviously delighted to allow in turn companies engaged with MassBio to benefit from what Quebec has to offer," declares Benoît Larose, CEO of BIOQuébec.
"The relationship between MassBio and BIOQuébec is one that delivers time and time again not just for our two innovation ecosystems, but for the patients around the world who we serve," said Kendalle Burlin O'Connell, CEO and President of MassBio. "Disease knows no borders. Renewing this successful partnership and the ongoing two-way cooperation between complementary biotech clusters is how we advance science and get medicines to patients with unmet medical needs."
"What great news for the life sciences industry! I am convinced that the renewal of this collaboration between BIOQuébec and MassBio will benefit our industry considerably. This partnership will further strengthen the business relationships between Québec companies and companies based in Massachusetts in addition to promoting Québec's life sciences industry," claimed Pierre Fitzgibbon, Minister of Economy, Innovation and Energy.
The bilateral cooperation and collaboration agreement between the two organizations allows for the organization of joint activities revolving around issues of shared interest, for co-promotion of their respective activities and events and local support for trade initiatives on their territories.
The agreement could facilitate investments and funding by and from companies in both ecosystems, enabling further research and commercialization of new drugs, therapies, diagnostic and disease prevention technologies.
MassBio is a net-for-profit organization founded in 1985 that represents and provides services and support for the Massachusetts life sciences industry. MassBio is committed to advancing Massachusetts' leadership in the life sciences to grow the industry, add value to the healthcare system and improve patient lives. Representing more than 1,400+ biotechnology companies, academic institutions, research hospitals, and service organizations involved in life sciences and healthcare, MassBio works to advance policy and promote education, while providing member programs, events, industry information, and services. For more information, visit www.massbio.org.
BIOQuébec represents more than 170 Quebec-based companies working in health research at all stages of the innovation process, from basic research to the integration of therapeutic innovation into the health system. They include biotechs, contract research organizations, investors, and biopharmaceutical companies at various developmental phases. BIOQuébec focuses on government representations, business development, and partnerships to foster the growth of Quebec's biotechnology and life sciences industry and position the province as one of this sector's integral key players internationally. For more information, go to www.bioquebec.com.
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