On January 4, the Massachusetts Life Sciences Center announced it was launching the second year of its Accelerator Loan Program, in which early-stage life sciences companies apply for the opportunity to receive working capital to aid in the process of developing their science or technology, and to position these companies for subsequent investment. This year, loans for this program will be capped at $1 million per company. Applications are now being accepted and are due by February 8, 2013.
To date, the Accelerator Program has awarded $15.1 million in loans to 24 companies, six of which have paid back their Accelerator loans early with interest after generating more than $105 million in equity or acquisition proceeds.
To learn more or to apply for the Accelerator Loan Program, please visit Mass Life Sciences Center.