Contacts: Christine Gillette, 978-934-2209, Christine_Gillette@uml.edu
Jill Gambon, 978-934-3297, Jill_Gambon@uml.edu
New $4 Million Medical Device Incubator Unveiled at UMass Lowell
Renovated Lab and Office Space Attracts Cutting-Edge Startups
Thursday, Sept. 22, 2011
10 a.m. to noon
WHAT: The Massachusetts Medical Device Development Center (M2D2) business incubator at the University of Massachusetts Lowell will officially open its doors after a $4 million renovation that has transformed 16,000 square feet of a former mill building into a high-tech facility that includes wet laboratories, office and meeting space for emerging companies.
M2D2 is a UMass Lowell-UMass Worcester initiative charged with bridging the gap between the invention and production of new medical devices, a key segment of the Massachusetts economy. Over the past decade, Massachusetts’ medical device exports have grown at more than twice the rate of the state’s overall exports. The industry employs nearly 25,000 workers in the state and is responsible for creating more than 80,000 jobs in related industries, according to recent research by Deloitte.
To date, five startups are leasing space at the incubator and two additional companies are under agreement to rent. The companies are developing products to address such critical health issues as glaucoma, wound care and prostate cancer.
On hand for the opening and dedication of the space will be the state’s Administration and Finance Secretary Jay Gonzalez, UMass Lowell Chancellor Marty Meehan, MassMEDIC President Thomas Sommer, elected officials and representatives of M2D2. Also scheduled to participate are entrepreneurs from some of the startups that are renting incubator space.
WHERE: Wannalancit Mills, 600 Suffolk St., Lowell