Boston and the state of Massachusetts in the United States are among the world’s centers for biotechnology and life sciences. Not only do companies such as Thermo Fisher Scientific, AmGen, BioGen, Pfizer, Moderna, Merck, Charles River Laboratories have their headquarters here, but the strongest research institutions like the Massachusetts Institute of Technology (MIT) and Harvard University.
The biotechnology and life sciences ecosystem here provides the best conditions for commercializing scientific advances. Hundreds of new start-ups are established here every year, attracting billions in all kinds of investment. There are more than one incubator and start-ups accelerator in the ecosystem, and government agencies strongly support such companies, offering a wide variety of compensation mechanisms and tax breaks. The universities operating here ensure the development of talents and their strong preparation for entering the labor market.
Lithuania can be proud to have the first Lithuanian company to take root in this ecosystem – Northway Biotech, managed by Professor V. Bumelis, has opened its branch in Waltham near Boston, and provides CDMO services to the US market here.
The Lithuanian Biotechnology Association, together with the Ministry of Economics and Innovation and the Lithuanian Embassy in the United States, are making efforts to attract more Lithuanian companies to Boston. To this end, the Lithuanian Consulate General in New York became a member of the Massachusetts Biotechnology Council (MassBio) and thus created a new platform for companies in our sector to participate in this ecosystem, use its network of contacts and participate in its events.
We are also glad that at the beginning of May, the Lithuanian Ministry of Foreign Affairs appointed a new Honorary Consul of Lithuania in Boston, Teodoro Forcht Dagi, who is well acquainted with this sector and is ready to help Lithuanian companies enter the US market.
A delegation from Lithuania, consisting of the Ministry of Economy and Innovation, the new Innovation Agency, the Invest in Lithuania Agency, the Lithuanian Embassy in the USA and the Lithuanian Biotechnology Association, visited Boston this week to introduce the Lithuanian biotechnology and life sciences sector to potential partners in the US.
Tomas Andrejauskas, President of the Lithuanian Association of Biotechnologists, shared the insights of this visit:
“Boston and Massachusetts are world leaders in life sciences and biotechnology. It provides excellent conditions not only for commercial activities, but also for working with research institutions, investors, developing new products in the US market and exploiting a very wide network of dedicated people working in the sector. LBTA now has excellent tools that enable Lithuanian companies in our sector to expand in Boston. First of all, we have a new honorary consul, Mr. Dagi, who is not only a great expert in this sector, but also a wonderful personality who gladly agreed to help Lithuanian companies operate here. Lithuania’s membership in MassBio also opens up a great platform for us to expand our circle of acquaintances and enables Lithuanian companies to come here. A lot of work has been done by the institutions to achieve this result, and now our focus and efforts will be to bring as many Lithuanian life sciences, biotechnology and medical device companies as possible to Boston to expand from the US market.”
LBTA members who want more information about the newly opened opportunities are invited to contact LBTA, where we will help with information and contacts.
Part of the Lithuanian delegation at the MassBio event in Boston. In the middle is our new Honorary Consul Mr. Teodoro Vorght Dagi.
Our new Honorary Consul Mr. Teodoro Vorght Dagi (right) is hosting one of the MassBio event sessions.