BIOQuebec And MassBio Announce The Signing Of A Memorandum Of Cooperation Agreement

SAN DIEGO--(BUSINESS WIRE)--While participating in the BIO International Convention, BIOQuébec formalized its cooperation with MassBio, the state biotech association based in Cambridge, which has more than 1000 member companies. This agreement aims to facilitate business ties between their respective members and support the development initiatives of both Québec and Massachusetts based biotechs and contract research organizations in either of these two territories.

“It’s our responsibility as an industry to work together and get better results collectively. The source of a treatment is unimportant: our focus is on the result and the patient.”

“For more than 18 months, we have been working closely with MassBio to establish bridges between our two territories. In addition to going to Boston ourselves a few times, we also had the privilege of welcoming Robert Coughlin, President & CEO of MassBio, twice here in Québec. A delegation from Boston accompanied him on his most recent visit. Today, we are particularly pleased to be solidifying this relationship through this cooperation agreement, which reflects the strengthening of our business ties and our desire to formalize them”, states Anie Perrault, BIOQuébec’s Executive Director.

“Disease doesn’t recognize boundaries and neither should our industry when researching and developing new, breakthrough cures and treatments. This partnership ensures that the best resources from Massachusetts and Quebec are being shared to produce the best outcomes for patients across the world,” said Robert K. Coughlin, President and CEO of MassBio. “It’s our responsibility as an industry to work together and get better results collectively. The source of a treatment is unimportant: our focus is on the result and the patient.”

This partnership between MassBio and BIOQuébec wouldn’t have been the same without the support of the Québec Delegation in Boston and the DPI-MESI. Their collaboration in organizing the mission in March 2016 in Boston and the visit of the MassBio delegation in September 2016 helped to create a favorable framework for the establishment of a cooperation agreement between both organizations.

In addition, a short-term goal of this cooperation agreement is the organization of joint activities, in Québec or in the Boston area, focused on issues of interest to both organizations as well as the hosting of a joint activity during the 2018 edition of BIO, which will be held in Boston and during which Québec and its life sciences industry will be showcased.

“The impact of Québec’s biotechnology and life sciences companies – more than 135 biotechs and 75 CROs – extends beyond the province’s borders and we are very happy to be working closely with an organization as important and influential as MassBio to foster business ties between our members and a state such as Massachusetts, which is at the heart of the development of life sciences in the world,” concluded Ms Perrault.

Over the medium- and long- term, this agreement could make it easier for American companies to invest in Québec and for Québec companies to obtain financing from the Boston area, which would allow for the research and marketing of new drugs, treatments or diagnostic and preventive tools to continue being performed here in Québec.

MassBio

MassBio is a not-for-profit organization founded in 1985 that represents and provides services and support for the world’s leading life sciences supercluster.

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 1000+ biotechnology companies, academic institutions, disease foundations and other organizations involved in life sciences and healthcare, MassBio leverages its unparalleled network of innovative companies and industry thought leaders to advance policy and promote education, while providing member programs, events, industry information, and services.

BIOQuébec

BIOQuébec, Québec’s biotechnology and life sciences network, is committed to supporting the growth of Québec’s biotechnology and life sciences industry. Founded in 1991, this NPC focuses on providing governmental representation, business development opportunities, and partnerships to allow its members to reduce their operating costs. For more information, go to www.bioquebec.com