By: David Fazzolare
The Massachusetts Life Sciences Center recently announced that it would be accepting applications for its Life Sciences Accelerator Loan Program. The program is designed to stimulate economic growth and innovation in the Commonwealth by providing much needed capital to early-stage life sciences companies while they continue to develop their technology and attract equity financing. Under the program, companies that have not yet raised more than $7.5 million in overall equity financing may receive a loan of up to $750,000. Fourteen companies have already received more than $8 million in loans through the program. Applications are currently being accepted online through noon on December 30, 2011, and announcements of the awards will be made on April 24, 2012. Early-stage life sciences companies that have a significant potential to commercialize their technology, grow rapidly, and attract private equity financing are encouraged to apply.