May 03, 2011 -- The Massachusetts Biotechnology Council announced today that Shire plc has joined the MassBio Innovation Exchange as a charter member.
MassBio’s Innovation Exchange is the only true and secure web-based search and evaluation portal designed to make corporate business development efforts more effective and efficient, as well as to provide small biotech companies and academic research with secure and efficient accessibility to potential large commercial organizations.
MassBio’s Innovation Exchange represents the only Exchange dedicated to life sciences enabling partnering, collaborations, and licensing among the investment, business/corporate development and licensing community.
“We are excited to leverage the MassBio network to pair buyers with sellers and streamline business development in life sciences,” said Robert K. Coughlin, MassBio President & CEO. “The Innovation Exchange comes as a result of feedback from our members who are looking for ways to make their business development efforts more efficient. The Innovation Exchange will work with our suite of innovation services to better align the research community with opportunities for commercialization.”
“We are pleased to be a charter member of the MassBio Innovation Exchange,” said Deanna Petersen, VP, Business Development, Shire HGT. “As the leader in orphan diseases, Shire is always looking for novel technologies and pioneering companies. This tool allows us to efficiently search for and evaluate new opportunities, and to provide feedback in real time to innovators.”
The Innovation Exchange is a new service offered under the umbrella of MassBio Innovation Services. Other Innovation Services programs include Pharma Days and the MassCONNECT mentoring program. Shire will use the Exchange in conjunction with their Pharma Day, a business development event scheduled for March 21st in Cambridge, in which Shire executives will meet with dozens of Massachusetts biotechnology companies to explore potential partnerships.
“We are proud to have Shire as a charter member in the Innovation Exchange as they are an active member in MassBio, and a leader in innovation, not just in Massachusetts, but around the world,” said Imran Nasrullah, MassBio’s Chief Business Officer. “The Innovation Exchange, working with other MassBio Innovation Services, is designed to increase the throughput of technology out of laboratories and into commerce. We help facilitate the license or acquisition of technology, create opportunities for face to face interaction around deal making and capital access, and expand members’ business network within the biotechnology ecosystem.”