Fall 2012 - Massachusetts Biotechnology Council

MASSBIO MIXER. PAGE 6.
Vol. 5, No. 3 | A publication of the Massachusetts Biotechnology Council | Fall 2012
VALUE ADDED
The annual BioPharm America conference, held Sept. 19–21
at the Westin Boston Waterfront, stressed that partners in
healthcare and biotechnology should come together to
create value at every opportunity. Pages 4-5.
news
Genzyme President & CEO David Meeker addresses the crowd at the BioPharm America 2012 conference.

2—MassBio News FALL 2012
a publication of:
Massachusetts Biotechnology
Council
300 Technology Square
Cambridge, MA 02139
617-674-5100 • www.massbio.org
Robert K. Coughlin
President & CEO
Joseph Fazio
VP of Finance & Administration
John Heffernan
VP of Policy & External Affairs
Sarah MacDonald
VP of Development & Communications
board of directors
Geoff MacKay, Chair
Glenn Batchelder, Vice Chair
Michael W. O’Hara, Treasurer
Abbie Celniker, Clerk
Geoffrey F. Cox, Immediate Past Chair
Caren Arnstein
Mark R. Bamforth
Margaret Chu-
Moyer
Jeff Elton
Scott Gillis
Steven Gilman
Jose-Carlos
Gutierrez-Ramos
James Hoyes
Edwin M. Kania Jr.
Laurie Bartlett
Keating
news
Mark
Leuchtenberger
David Lucchino
Deanna Petersen
David Reif
Steven G. Richter
Amit Sachdev
Frank Thomas
Kathleen Tregoning
Charles Wilson
Lawrence
Wittenberg
produced by:
Grant Communications
Consulting Group
Boston/New York
781-598-8200
gccg@grantgroup.com
www.grantgroup.com
Stericycle, MassBio’s primary supplier for
biomedical waste management services, recently
added even more value for MassBio members by
including the SteriSafe compliance program and
additional trainings under the renewed agreement
between Stericycle and MassBio.
Stericycle provides MassBio members a safe,
cost effective, and reliable biological waste disposal
service. It has the largest biological waste
disposal infrastructure nationally and serves
thousands of customers each year.
“Stericycle has been a trusted partner for 20
years and has always demonstrated a long-term
commitment to our industry,” said MassBio
President & CEO Robert K. Coughlin. “Our
members asked for the SteriSafe program and
now they can access it while still benefitting from
Stericycle’s exceptional pricing and service.”
MASSACHUSETTS IS THE PLACE TO BE FOR BIOTECH
ROBERT K.
COUGHLIN
MassBio was delighted to host BioPharm
America here in Boston for the third year
and welcome our colleagues from around
the world. The conference provided an ideal
venue for industry stakeholders to make the
connections they need to thrive and grow
their businesses.
Hosting BioPharm America in Massachusetts
made sense—we are the world’s premier
cluster for biotechnology and life sciences
research and innovation. Despite the difficult
economy, we continue to grow and add
jobs here. According to the 2012 MassBio
Industry Snapshot, Massachusetts jobs in
biotechnology research and development
grew faster than in any other state in the nation and Massachusetts is home
to more biopharma R&D workers than any other cluster. Venture investment
in Massachusetts biotechs reached an all-time high in 2011 at $1.071 billion.
That makes $8.054 billion invested in the industry here since 2002.That is a
testament to this state’s commitment to the industry and to the dedication of
all of you, our workforce and our partners.
At the end of the day, the innovative work you are doing is changing the
lives of patients around the world—patients like Bridget Spence, who has
MASS. STRENGTHENS POSITION AS
BIOPHARMA LEADER (FULL STORY PAGE 6)
The new agreement, renewed through June 30,
2014, offers MassBio members:
• up to 25 percent off list prices for Stericycle’s
biomedical waste management services;
• flat rates for energy and fuel charges;
• SteriSafe compliance programs at 25 percent
off (preferred, select, or standard);
• regulatory updates as they occur;
• non-hazardous non-RCRA pharmaceutical
waste disposal;
• monthly automated waste tracking reports;
• and large rebates for generators over
$75,000 per year.
NIH HEALTH
FUNDING
STERICYCLE EXTENDS CONTRACT, ENHANCES OFFERINGS
courageously been fighting breast cancer since 2005. Stories like hers keep
us motivated to continue to charge forward in the R&D arena and translate
innovative discoveries into new technologies and life-saving treatments.
Finally, I want to thank all of you who came out and supported us in our
18th Annual Golf Classic, which raised significant funds to support the
initiatives of the MassBioEd Foundation and cultivate the next generation of
biotech talent. Your participation and continued interest in all that we do is
much appreciated.
On a NIH-funding per capita basis,
Mass. continues to far exceed other
leading NIH-recipient states.
As an added benefit under the new agreement,
Stericycle will also offer MassBio members their
U.S. Dept. of Transportation (DOT) hazmat training
via Webex on a quarterly basis at no charge,
saving an average of $500 per person. Webex
training will allow more members to benefit from
this free training and will appeal to members outside
of the Cambridge area. Webex DOT training
will be offered from 10 a.m. to 12 p.m. on Nov.
14, Feb. 13 and May 14. MassBio members must
register through the MassBio website.
This contract expansion and renewal comes
shortly after Stericycle joined MassBio’s Small
Business Program. Under that program, Stericycle
provides pricing and products needed to
set up a lab for medical waste to small MassBio
member companies at an average savings of 35
percent.
Robert K. Coughlin is President & CEO of MassBio.
NEW
MASSBIO
MEMBERS
Angiochem
Ariana Data Intelligence, Inc.
Averica Discovery Services
BDO
Biopharma Technology LLC
Bioscience Solutions Group
Bio-Tree Systems, Inc
Brainwave Discovery, LTD
Celerion
Celexion LLC
Center for Advancement of Science
in Space
Compliance Implementation
Services (CIS)
CSCS
Daktari Diagnostics
Fuld & Co.
Genometry Inc
Integral BioSystems, LLC
KEW Group Inc.
Life Science Praxis, LLC
Modular Genetics
MTZ US Clinical Research
Navidea Biopharmaceuticals
NEO Group Inc.
Patheon
Promedior
Quest Diagnostics
RHENOVIA PHARMA
RVC USA / Maxwell Biotech
Sample6 Technologies, Inc.
Suffolk University
Trident Search LLC
WorldCare Clinical, LLC

MassBio News FALL 2012—3
Q&A WITH ELIANE MARKOFF
Founder, Art in Giving
QThere are so many ways to fundraise
for charity, what inspired you to use
your art to help fund medical research
A
At eight years old and in 1992, my
daughter, Rachel Molly Markoff, was diagnosed
with an inoperable brain tumor.
While waiting to see the doctors at the Jimmy
Fund Clinic, Rachel would draw and color.
I found painting to be therapeutic and was
motivated by Rachel’s art to develop my skills as
an artist. Art has special meaning for me since it
provides a medium to keep Rachel’s memory alive
and to benefit children who suffer from cancer.
I gave one of my first paintings to my husband
who hung it in his office. To my surprise,
people who saw my work actually wanted to
buy it. That’s when I realized I could sell art
to raise funds for pediatric cancer research and
support for families with children battling cancer.
Now all Art in Giving proceeds are used
to fund pediatric cancer research and related
support programs.
ELIANE
MARKOFF
Q
Proceeds from Art in Giving go to
The Rachel Molly Markoff Foundation,
created in memory of your
daughter. Tell us about Rachel.
A
My
daughter Rachel Molly and her
twin sister Audrey Sarah were born
on Oct. 10, 1983. On Jan. 16, 1992,
Rachel was diagnosed with an inoperable brain
tumor. She died nine months later, one week
after Rachel and Audrey’s ninth birthday.
Rachel was someone who drew admiring
glances whenever she walked into a room. She
was a very poised and attractive young girl
that exhibited a quiet strength and maturity
well beyond her years.
Perhaps one of Rachel’s doctors, Dr. Nancy
Tarbell, captures Rachel’s essence best when
she described my daughter by saying, “Rachel
was more concerned about the well being of
her parents and sister Audrey than herself. Such
courage and maturity from a 9-year-old girl was
remarkable and duly noted by all the people she
touched during her 9-month illness.”
One time, after Rachel came back home from
the hospital after a month’s stay, she brought
all the gifts and toys including her sea shell
collection to her bedroom. She told Audrey,
”You can have anything you want. I am just
happy to be home.”
Q
What is the strength behind Art in
Giving’s unique philanthropic model
A
The
strength behind Art in Giving’s
unique philanthropic model is the
infrastructure allowing us to access
new sources of philanthropic dollars by encouraging
organizations to fund art purchases
through HR-sponsored reward and recognition
programs, marketing, and facilities management,
and not solely from company-sponsored
philanthropy. In this way, Art in Giving
converts traditional corporate expenditures
into charitable donations, thereby increasing
the amount of potential funding for pediatric
cancer causes.
RACHEL MOLLY MARKOFF
To date, The Rachel Molly Markoff Foundation
funded 12 Chairs of Research in collaboration
with The National Brain Tumor Society
and its Scientific Advisory Board and other
research institutions. It also provided support
to numerous children and families affected by
childhood cancer.
Q
What ways can an individual make
an impact through Art in Giving
A
Both
individuals and organizations can
make a significant impact. We welcome
inquiries from architects, interior designers,
facility management and curators who are
responsible for purchasing art to adorn new offices
or a new building. Individuals can also participate
by purchasing art or Art in Giving certificates to
thank clients, guest speakers; to reward executives
and other employees and on a personal level to
mark special occasions such as weddings, new
home purchases, anniversaries, graduations, and
birthdays. Those receiving the certificates can
select their gifts from over 25 prominent artists, including
artists in oils, acrylics, mosaic, encaustic,
pottery, knits and jewelry as well as from Galerie
d’Orsay on Newbury Street in Boston.
Please visit artingiving.com/gallery or
contact us at 617-877-4230. We are located at
450 Harrison Ave in Boston, Studio 222 and
welcome a visit.
We are also looking to engage clients in two
new initiatives. A partnership with other nonprofits
dedicated to either cancer or pediatrics
will allow us to share the funds and revenues
we jointly raise. A Corporate Membership Program
will allow members to loan the art with
an option to purchase.
Q
In
what ways does the art available
represent the challenges many families
have while dealing with a sick child
A
People
have such personal reactions to
art, that we make sure to offer a variety
of styles and media. What I can confidently
say is that all the artists that join Art in
Giving are moved by our mission and want to
make a difference.
Speaking for my artwork, the process and techniques
I use are influenced by my experience with
my daughter’s death. For example, when I start a
painting I have a goal in mind, but many times the
finished piece does not end up as I had intended—
just as we don’t have ultimate control over life.

BIOPHARM AMERICA BRINGS
PARTNERS IN HEALTH TOGETHER
4—MassBio News FALL 2012 MassBio News FALL 2012—5
John Carroll of FierceBiotech, far left, and MassBio’s Robert Coughlin and EBD Group’s Carola Schropp, far right, congratulate representives of the winning Fierce 15 companies: AC Immune SA,
Alkeus Pharmaceuticals, Angiochem, Aragon Pharmaceuticals, bluebird bio, Celladon Corporation, Ember Therapeutics, Enanta Pharmaceuticals, EnVivo Pharmaceuticals,
VALUE ADDED + + Foundation Medicine,
Mersana Therapeutics, miRagen, Okairos, PROSENSA and Seaside Therapeutics; the best and brightest in biotech.
photos: david fox
+
By Meaghan Casey
Examining trends in collaboration, externalization
and commercialization, speakers at the fifth annual
BioPharm America conference stressed the importance
of adding value when it comes to any deal.
“Partners should come together for one reason—
to create value,” said Genzyme President & CEO
David Meeker. “The goal is to create something that
will actually get to a patient and improve his or her
quality of life, not just get approved.”
In terms of making the transition from a start-up
to a successful, commercial-stage company, Meeker
said executives have to ask themselves, “Are you
holding on to the company because it has value or
because of your ability to add value”
Meeker, who served as both the keynote speaker
and a participant in the keynote panel, was hired as
medical director at Genzyme in 1994 to work on the
cystic fibrosis gene therapy program and appointed
CEO in October 2011, soon after the company was
acquired by Sanofi.
“People were willing to fund ideas in a way that
just isn’t prevalent anymore,” Meeker said, referring
to the $85 million that was raised for the CF research
during his early years at Genzyme, as compared to
the current challenges companies face when acquiring
capital. “The landscape for biopharma companies
is changing with new laws and a greater focus
on patient needs… You have to have conviction and
passion that other people can get behind, but you
also have to have credible assets.”
+
THE
LANDSCAPE FOR
BIOPHARMA COMPANIES
IS CHANGING.
Meeker was joined by Organogenesis President &
CEO Geoff MacKay, TESARO CEO Lonnie Moulder
and Alkermes plc Chairman & CEO Richard Pops
in a panel moderated by Karen Bernstein, co-founder
and chairman of BioCentury. The panelists were in
unison about many factors that help guide today’s
CEOs to success, such as establishing a diverse
portfolio and building experienced teams.
“Companies rarely identify their strongest asset
up front,” said Pops. “They stumble onto it along
the way. High-risk, high-return investments are the
exception, not the general rule. You have to walk
before you run, and a portfolio allows you to play
out different options over time.”
The robust program at BioPharm America featured
other executives from big pharma including Alexion
Pharmaceuticals, Amgen, AstraZeneca, Bayer
HealthCare, Bristol-Myers Squibb, GlaxoSmith-
Kline, Ironwood Pharmaceuticals, Merck, Novartis,
Novo Nordisk, Pfizer, Sanofi, Shire and Takeda.
The event, organized by EBD Group, the leading
partnering firm for the life science industry, was held
September 19–21 at the Westin Boston Waterfront in
collaboration with MassBio.
“This year we absolutely had the best program
ever, with provocative topics and some weighty
speakers,” said Carola Schropp, President of EBD
Group. “From the workshop on making your 30-second
pitch and the Fierce 15 awards, to the SciBx
Innovation Summit, we had some new and engaging
offerings that were a big draw, not to mention the
superb partnering opportunities.”
The event kicked off with the announcement of
TransCelerate BioPharma, a new non-profit organization
focused on accelerating the development of new
medicines. TransCelerate’s founding members are Abbott,
AstraZeneca, Boehringer Ingelheim, Bristol-Myers
Squibb, Eli Lilly and Company, GlaxoSmithKline,
Johnson & Johnson, Pfizer, Genentech, and Sanofi.
Next was the announcement of the Fierce 15—the best
and brightest emerging biotech companies, awarded
by FierceBiotech. Out of more than 200 applicants this
year, AC Immune SA, Alkeus Pharmaceuticals, Angiochem,
Aragon Pharmaceuticals, bluebird bio, Celladon
Corporation, Ember Therapeutics, Enanta Pharmaceuticals,
EnVivo Pharmaceuticals, Foundation Medicine,
Mersana Therapeutics, miRagen, Okairos, PROSENSA,
and Seaside Therapeutics emerged as winners. Eight
of the companies are based in Massachusetts.
+
WE
“They represent some of the most exciting and
partnerable companies in the industry,” said Mass-
Bio President & CEO Robert K. Coughlin.
“We like to recognize biotechs who boldly set out
to blaze new paths,” said FierceBiotech Editor-in-
Chief John Carroll. “And we recognize that in an
industry like drug development, not everyone makes
it to the finish line. But there’s more here than a
willingness to accept risk. If anything, the growing
appetite for risk reflected in this year’s Fierce 15
raises the odds against successful drug development,
but improves the odds of a genuine breakthrough.”
The conference’s opening plenary session, moderated
by Doug Cole of Flagship Ventures with
speakers Robert J. Gould of Epizyme, Michael Poole
of AstraZeneca, Terry Porter of Takeda Pharmaceuticals
and Philip Vickers of Shire HGT, explored
new roles along the drug development chain and the
benefits of outsourcing research.
“We have to get the right balance between what we
do internally versus externally, keeping the talent in the
organization, but utilizing external experts,” said Vickers.
+
THE
LIKE TO RECOGNIZE
BIOTECHS WHO BOLDLY
SET OUT TO BLAZE NEW
PATHS.
RELATIONSHIPS
WE’RE BUILDING WILL BE
MUCH MORE ROBUST IN
THE YEARS TO COME.
“The relationships we’re building in the external
world will be much more robust in the years to
come,” said Poole.
Other discussions covered pressing issues for industry
insiders, from spotlight panels covering innovative
partnerships in the field of immunotherapy, pre-competitive
collaborations, emerging markets and global
drug development strategies, to a discussion on best
deal structures. The business development track
included pharma/venture hybrid funds, financing models
and a critical review of major deals of the past year.
The event concluded with the inaugural SciBX
Innovation in Drug Discovery & Development
Summit, organized in partnership with Nature
Publishing Group and BioCentury Publications
Inc., which focused on the development of a white
paper “roadmap” on Macrocycles and Constrained
Peptides-Challenges and Applications.
David Meeker, President and CEO of Genzyme, gave the conference’s keynote address.
BioPharm America serves to bring members of biotech companies together for collaboration.
Attendees gathered for an evening reception, hosted by EBD Group, on board the Odyssey.

6—MassBio News FALL 2012
A GLOBAL GATEWAY event, Accessing the German Biotech
Market, was held on Sept. 18. Lt. Gov. Timothy P. Murray, center,
joined John Heffernan, left, and MassBio President & CEO
Robert K. Coughlin, right, to discuss Germany-Massachusetts
collaboration opportunities with Germany Trade & Invest,
BioM Munich, and the local life sciences community.
On Aug. 9, the second annual Purchasing Consortium
Summer Mixer was held at Catalyst Restaurant.
MASSBIO 2013 CALENDAR
SAVE THE DATE
POLICY LEADERSHIP
BREAKFAST JANUARY 23
MA CRO/CMO
SYMPOSIUM FEBRUARY 25
MASSBIO
ANNUAL MEETING MARCH 14–15
2013 BIO INTERNATIONAL
CONVENTION (CHI) APRIL 22–25
CARE AND
COMPASSION
COMBAT
CANCER
SPENCE: from Page 8
INDUSTRY SNAPSHOT
MASS. STRENGTHENS POSITION AS
BIOPHARMA INDUSTRY LEADER
The annual industry report produced by
MassBio reveals the Commonwealth is
outpacing other clusters for growth in both
employment and investment.
According to the report, Massachusetts
is strengthening its biopharma location
quotient—a measure of the concentration
and strength of an industry in a region
versus the nation as a whole.
“Massachusetts remains the best place
for biotechnology innovation and growth,
despite the economic downturn or the regulatory
uncertainties the industry faces due
to ongoing reform,” said MassBio President
& CEO Robert K. Coughlin. “This is an
industry that is thriving here in the Commonwealth
and we must remain committed
to continued investment and attention to
ensure our preeminence for years to come.”
Using more timely data this year, Mass-
Bio revised the number of people working
in biotechnology in Mass. to 53,253
in 2011. The figure is based on the U.S.
Bureau of Labor Statistics’ Quarterly Census
of Employment and Wages (QCEW),
where past MassBio industry reports have
used the U.S. Census Bureau’s County
Business Patterns (CBP) data. QCEW
figures are released quarterly and are more
up-to-date than CBP’s annual data.
While the rate of biopharma job growth has
slowed since the recession hit in 2009—growing
just one percent from 2010 to 2011—the
industry is still growing jobs at a rate faster than
the Mass. economy as a whole. Massachusetts
also outpaces any other state in biotechnology
research job growth from 2007–11.
The 2011 numbers may act as positive
indicators for additional growth in 2012. Postings
for open biopharma industry positions on
MassBio’s online job board are up since 2009,
with 6,223 jobs being advertised in 2011.
The report also positions Mass. as the nation’s
leader in biotechnology research and development
jobs, with over 28,000 positions in 2011.
Venture investment in Mass. biotechs
her lungs and bones.
“Dr. Partridge treats me as a partner in my
care,” said Spence. “She includes me. She
includes my husband and my parents in every
treatment decision. She has never used the
word incurable, and she has never thrown out
statistics. She simply fights alongside me.”
Partridge has been supported in her work by attending
the Schwartz Center Rounds®, the signature
program of the Schwartz Center for Compassionate
Healthcare. The program allows caregivers
from multiple disciplines to come together on
a regular basis to discuss the most challenging
emotional and social issues they face in caring for
reached an all-time high in 2011 at $1.071
billion. That makes $8.054 billion invested
in the industry here since 2002. Mass.-
based biotech companies also received
22.6 percent of all VC biotech financing,
just below the 2010 all-time high.
Perhaps more importantly for the industry,
start-up and early-stage companies in Mass.
received a greater percentage of total VC
investment than their peers across the U.S.
“It’s good news that our early stage companies
are attracting the highest levels of
funding out there,” Coughlin said. “In order
for Massachusetts to remain the world
leader in biotechnology, we must ensure
new, innovative ideas and companies have
access to the capital they need to grow.”
This year’s snapshot was produced in
partnership with EvaluatePharma, the
premier source for commercial analysis of
the pharma and biotech sector, delivering
exclusive and trusted insight into industry
performance. Charts on venture capital deals
and venture financing by stage of company
development were compiled based on Evaluate’s
proprietary Analysis & Insights tools.
“Massachusetts continues to demonstrate its
ability to foster innovation, particularly in startup
and early-stage biotech companies with continued
investment from the venture community.
This trend will further drive biopharma
job creation in the Bay State,” said Debbie
Paul, EvaluatePharma CEO of Americas.
For the first time, MassBio looked at the
success of 93 companies backed by venture
over the last decade. Of those companies,
40 remain VC-backed, 26 were acquired, 15
went to IPO and 12 are defunct.
Also new this year, MassBio compared NIH
investment and venture capital investment
across the leading biopharma states. In Mass.,
every dollar invested by NIH is matched by
43 cents of venture investment, amplifying
the impact of NIH funding. That is second
only to California, which sees 53 cents of
venture investment for every NIH dollar.
patients. It has led to increased insight, improved
teamwork and more patient-centered healthcare
practices and policies. It is now taking place at
more than 250 healthcare facilities in 36 states.
“Schwartz Center Rounds have actually
opened my eyes to the fact that patient care can
be wonderful and rewarding,” said Partridge.
The Center is named for the late Ken Schwartz,
a Boston healthcare attorney who was diagnosed
with advanced lung cancer at age 40. In an article
for the Boston Globe Magazine entitled “A Patient’s
Story,” he reminded caregivers to stay in
the moment with patients and how “the smallest
acts of kindness make the unbearable bearable.”
He founded the Schwartz Center in 1995, just
days before his death, to ensure that all patients
REPORT HIGHLIGHTS
➤ Mass. biopharma industry
employment reached an
all-time high of 53,253 in
2011, continuing the industry’s
eight-year pattern of growth,
and now accounts for over
$6 billion in payroll.
➤ The estimated average
salary in the biopharma
industry is $113,364,
89.9% higher than the
estimated state average
salary of $59,676.
➤ Mass.-headquartered
companies have a total of
955 drug candidates at
some stage of R&D. Oncology
drug candidates make
up 37% of that pipeline.
➤ The top 5 NIH-funded
independent hospitals in
the U.S. in 2011 are in Boston.
10 of the top 20 are
in New England.
SEE THE FULL REPORT
AT MASSBIO.ORG
receive compassionate and humane care.
“The work of the Schwartz Center is so incredibly
important, especially in this day and age,”
said Spence. “As treatment gets more advanced,
it becomes more individualized. My journey is
so different from the journey of any other patient
who could have the exact same diagnosis. It’s so
important that you’re not just a number.”
The 17th Annual Kenneth B. Schwartz
Compassionate Healthcare Dinner to recognize
the essential role of communication, empathy
and emotional support in healthcare will be held
Thursday, Nov. 8 at the Boston Convention and
Exhibition Center. MassBio’s CEO Robert Coughlin
is a dinner co-chair. For more information, contact
Elizabeth Hickman at ehickman@partners.org.

MassBio News FALL 2012—7
REPORT FINDS HEALTHY BIOTECH VC SCENE IN MASSACHUSETTS
By Jonathan Gardner
EvaluatePharma
Pharma venture capital may be in
the doldrums globally, but not here in
Massachusetts. Against industry trends
that find some VC firms struggling
to form syndicates to back promising
early-stage companies, venture funding
breached the $1 billion mark for
the first time in the state’s active life
sciences sector in 2011, according to
MassBio’s 2012 Industry Snapshot.
Venture funding has sustained many
companies for the long term, if not led
to an outright exit, according to the
report’s analysis of EvaluatePharma
data: most VC-backed companies
continue to receive funding if they
have not been purchased or floated on
the public markets. The data show that
there are still some thriving hotspots in
an industry struggling to find the cash
to fund new drug development.
The news in the venture world has been
grim in 2011 and 2012, with signs pointing
to one of the worst years for funding rounds
in memory. And with the IPO window
barely open at all, those floating on the public
market are taking significant haircuts and
struggling to make any
headway once listed.
So it comes as a
pleasant surprise
to hear that the New England core
continues to thrive, with job listings
having grown since 2009, according to
MassBio—a sign that companies are
growing sufficiently to add positions.
Based on the PriceWaterhouseCoopers/National
Venture Capital Association
MoneyTree report data, the trade
group reports that biotech companies
in the state raised $1.07 billion in
2011, an all-time high in a year that
was generally disappointing for groups
developing human therapeutics.
It is not clear whether that trend can
be sustained—2012’s second quarter
showed worrisome signs for the industry
as a whole, and even the PWC’s
data showed that biotechs in New
England raised a paltry $107 million.
The second quarter drought in U.S.
biotech funding was extreme enough that it
caught the eye of PWC and NVCA, which
issued a special report on the sector.
But one quarter does not necessarily
measure the long-term health of the
industry. Using EvaluatePharma data,
MassBio sampled 93 Mass. companies
receiving VC backing in the past
decade. Of those, only 12 have gone out
of business, with 40 still funded with
venture dollars, 26 acquired and 15
having floated on the public markets.
The total value of the 15 acquired
companies with a specified acquisition
value was $5.72 billion,
more than the $5.18
billion in venture funding
funneled to the 93
companies. The market capitalization of
the 15 public companies is $9.06 billion.
Thus a long-term trend can be seen—
the aggregate exit values clearly exceed
the venture investment, although
obviously the failure or underperformance
of individual companies mean
venture money can be thrown away.
Given the worries about the breakdown
in the venture funding model
and R&D productivity, it is too soon
to say that the snapshot identifies
trends that will be sustained in the
long term. What it does show is that
there are signs of health in our sector.
Since 1996, EvaluatePharma has been
the premier source for life science sector
analysis, delivering exclusive, trusted
commercial insight into industry performance
through its proprietary platform.
EvaluatePharma is staffed by a team of
over 85 dedicated healthcare analysts
employing rigorous methodologies to
collate, organize and deliver the mostup-to-date
commercial performance data
available. An award-winning editorial
team of journalists writing under the EP
Vantage name support EvaluatePharma’s
analysis. For more information please
visit www.evaluatepharma.com.
The 18th Annual MassBio Golf Classic supports the MassBioEd Foundation.
TEEING OFF FOR BIO-SCIENCE EDUCATION
Hundreds of supporters came out for
MassBio’s 18th Annual Golf Classic on
Sept. 7 at the prestigious Pinehills Golf
Club in Plymouth, raising more than
$160,000 for the MassBioEd Foundation.
The tournament featured 18 holes of golf,
as well as a networking reception, raffles and
an auction. Proceeds help support Mass-
BioEd in its mission to build biotechnology
literacy, prepare the biotechnology workforce
THANK YOU
SPONSORS
AT&T
JANITRONICS
WALMART
Airgas
Fisher
Parexel
Millennium
Amgen
Linde
PharmaForm
Veolia
and develop future Massachusetts’ biotechnology
leaders through school programs,
workforce training and lifelong learning.
The Foundation’s BioTeach program strives
to provide Massachusetts high school teachers
with the skills and equipment necessary to
integrate cutting-edge and innovative science
into the classroom. Since its inception,
BioTeach has raised and distributed more than
$6 million in equipment, supplies and services
DENS
EMD Millipore
Microtest
Novartis
Propel
Shire
World Courier
Skanska
BDO
Cubist
Edwards Wildman
Forest City
Pearl and Meyer
Richmond Group
Ambit
to support secondary science education in 177
high schools and has trained more than 500
teachers. Partnering with MassBio members,
MassBioEd is also able to offer exciting professional
development and guest speaker opportunities,
internships, externships, site visits,
college awareness and planning curriculum
and workforce development training. It also
offers several options for courses and seminars
for those already in the industry.
BEST SCORE
NIKLAUS
COURSE
Chris Buchanan
Landon Wyrick
Jeff Graham
Peter Minot
JONES
COURSE
Dan Dailey
Paul Railty
Ben Butterfield
MASSBIOED
UPDATE
Exciting new
courses for biotech
professionals
The MassBioEd Biotech Learning Center recently
unveiled four new courses for industry professionals.
These courses offer the latest information
and reflect the most recent changes in the everevolving
life sciences industry.
CLINICAL TRIAL OVERVIEW: THE
PLAYERS, PROCESS, AND LANGUAGE
Thurs. Oct. 11, 5:30–9 p.m.
This primer will help those looking to transition
to a research position become acquainted with
the players, the process, and the terminology of
clinical trials.
DRUG DEVELOPMENT FOR THE NON-
SCIENTIST Friday, Oct. 12; 9 a.m.–4:30 p.m.
This one-day course will provide an overview
of the development and regulatory process for
bringing a new drug, either a small or large molecule,
to market.
MANAGING CLINICAL TRIALS
Thursdays, Oct. 18–Nov. 29, 5:30–9 p.m.
This modular seminar series will teach the major
skills needed to manage successful clinical trials
in the current development environment of regulatory
scrutiny.
MEDICAL DEVICE OVERVIEW
Friday, Oct. 26; 9 a.m.–4:30 p.m.
This one-day course will provide an overview of U.S.
medical device regulations, including how to navigate
the Food and Drug Administration (FDA), how to
determine if a product is a device, and more.
MassBio members receive a discount on all Mass-
BioEd courses. For more information and to see a full
list of courses, visit www.massbioed.org.

8—MassBio News FALL 2012
news
PRESORT-STD
U.S. POSTAGE
PAID
CAMBRIDGE, MA 02139
PERMIT NO. 981
300 TECHNOLOGY SQUARE, CAMBRIDGE, MA 02139
CARE, COMPASSION
COMBAT CANCER
PATIENT
PROFILE
By Meaghan Casey
Spence finishes the Susan G. Komen 3-Day for the Cure, a 60-mile walk.
As a young girl, pink is the color of Barbie’s dream house,
bubble gum and cotton candy. For Bridget Spence, it was also
the color of the ballet tutus and jelly slippers that lined her
dress-up bin. But in 2005, the color rapidly transformed from
one of sweet, childhood associations to one of survival, compassion
and hope when Spence was forced to meet the battle
with breast cancer head-on at the age of 21.
Spence, now 28, is a metastatic
(stage IV) breast cancer survivor and
Susan G. Komen advocate. She was
diagnosed two weeks after graduating
cum laude from Boston University
with a degree in international relations,
and six months after discovering
what she suspected to be a lump
in her breast. Further tests revealed
she had a tumor in her liver as well.
“I had just graduated from college,”
BRIDGET SPENCE
said Spence. “I wanted to go to Europe.
I wanted to have babies. I wanted to get married and to have
hair for my wedding day. I was a young girl with concerns that
were really important to me. If I was going to be fighting for the
rest of my life, then I needed to be able to have a life as well.”
For Spence, the compassionate care she has received has been
nearly as important as the life-saving, medical treatment itself.
She made it clear early on that she wanted to be treated as a whole
person, not just as a patient, and found the right fit with Dr. Ann
Partridge, a cancer specialist at the Dana-Farber Cancer Institute.
“From the beginning, Dr. Partridge has always been just
wonderful and competent,” said Spence. “I always feel much
better once I’ve had the chance to talk to her. If your provider
knows you as an individual, and doesn’t ask the rote questions,
it takes the edge off just a little bit.”
Partridge has guided Spence through countless rounds of
chemotherapy and clinical trials, scheduling every treatment
so as not to conflict with the major events in her life, such as
her wedding day in 2009.
“While I was planning the flowers and the food, Dr. Partridge
was planning my illness,” said Spence. “And she
handled it. It was so nice to have my entire treatment regimen
planned around this very important day.”
“What I’ve tried to do in caring for Bridget is to help her live
her life as well as possible, always trying to control the disease
and minimizing the side effects of therapy,” said Partridge.
“I would define compassionate care as trying to really get to
know the person and understanding what’s important to them.
It’s trying to meet the patients where they are.”
In Spence’s eyes, Partridge has done so much more, fueling
her with the hope to carry on, even as the cancer has spread to
See SPENCE on Page 6
Spence was diagnosed two weeks after graduating from
Boston University in 2005.
Spence was able to plan her wedding to her husband, Alex,
around treatment with Dr. Partridge at Dana-Farber.
Spence has become a Susan G. Komen advocate, participating
in additional walks.