Region's Life Sciences Sector Continues Impressive Growth

WALTHAM, MA—The Boston-area life science and biotech industry continues to be a source of growth for the regional economy and the commercial real estate market.

Officials with the Massachusetts Life Sciences Center report that Tyrogenex and sister company Xcovery will be opening a new office in Needham at 197 First Ave., while SIRION Biotech, which is headquartered in Germany, is conducting a search for laboratory and office space in the Boston area.

The latest additions to the region's biotech-life sciences sector were announced at last week's 2015 BIO International Convention in Philadelphia.

According to a spokesperson for Tyrogenex and Xcovery, Michael D. Webb, president and CEO for both Tyrogenex and Xcovery, and several management and business development functions, will be based in the Needham office. The company also has a presence in Palm Beach Gardens, FL.

Both companies are now launching Phase 2 studies. Tyrogenex is a developer of novel kinase inhibitors to target angiogenesis, and Xcovery is involved in the development of next-generation targeted therapeutics for cancer.

“Having a presence in Massachusetts is a distinguishing factor within the life sciences industry and proves valuable in attracting talent, partnership opportunities and investment,” Webb says. “This new office will enable both Tyrogenex and Xcovery to tap into extensive local resources while continuing to grow and move forward in the clinical development process.”

“We are pleased to welcome Tyrogenex and Xcovery to Massachusetts, the world's leading ecosystem for life sciences innovation and growth,” says Angus McQuilken, MLSC vice president for communications & marketing. “We are confident that here both companies will find the talent, partners, customers and investors that they need to maximize their growth and success.”

SIRION Biotech, a viral vector platform company, is working with the MLSC to locate wet lab and office space for the company. While the office location has yet to be selected, a company spokesman tells Globest.com that SIRION hopes to have 20 employees in its Boston office in the next two years. The Boston office will be the first location in the United States for the company.

SIRION's office in the Boston area will allow direct access to Massachusetts' vibrant life science community, which includes an increasing number of biotechnology companies and academic researchers working to develop gene therapies and vaccines for a range of diseases. Founded in 2005, SIRION Biotech is a global leader in developing research and commercial grade viral vector solutions for industry and academic partners that are developing gene therapies and vaccines.

“We appreciate the assistance from Massachusetts Life Sciences Center in helping us begin building our U.S. operations in the Boston area, during such an exciting time in our industry,” says Dieter Lingelbach, chief operating officer of SIRION Biotech. “We are a growing company, planning to build on the success we've had in Europe, Israel and Japan, as we collaborate with many companies pioneering gene therapies.”

MLSC's McQuilken adds that he expects other biotech-life science companies to announce office openings in Massachusetts in coming months based on discussions the organization had with firms that participated at the BIO International Convention.

At the convention, MLSC, the Conference of Boston Teaching Hospitals and the University of Massachusetts Memorial Medical Center announced the launch of the Massachusetts Clinical Innovation Gateway. The new web portal will allow life sciences companies from around the world to seek opportunities to partner with Massachusetts academic medical centers on research and clinical initiatives. McQuilken says the new web portal could help convince global life science companies to possibly locate operations in the state in order to have operations closer to firms and institutions it collaborates with.