Brian Johnson
One of the more interesting things to come out of yesterday’s announcement by the Massachusetts Life Science Center, that seven companies had been chosen for accelerator loans, was the fact that the Commonwealth will keep InVivo Therapeutics as one of its own.
When I first met with Frank Reynolds last October, that was definitely not a given. Reynolds was beyond frustrated with the lack of effort by state officials to keep his company here. On more than one occasion, he told me, the state made bold promises about keeping the company here. But days would turn into weeks and calls wouldn’t get returned.
In fact, he was so frustrated about being left in the lurch that he unequivocally stated that Massachusetts would lose the company if it didn’t come through with some funding.
“Whoever gives the money is going to get the business,” he told me back in October. “Other states are throwing money at us.”
And not only states, Reynolds said, but other countries as well. He was very close to building a manufacturing facility in Ireland, and even visited the country in March to scout locations.
“We could employ thousands of people in a short period of time, if not thousands than hundreds, and now I can’t get phone calls or emails. It’s so bizarre,” he said in October.
But all’s well that ends well, as Reynolds told me the $500,000 loan means he’ll keep his company in the Commonwealth — a point he reiterated on New England Cable News last night:
All of which is good news for Massachusetts. For a state boasting so many firsts, curing paralysis would be a nice addition to the portfolio, along with that whole American Revolution thing.
A nice consolation prize
One interesting thing that came out of the meeting yesterday was that Johnson & Johnson is going to be contacting 11 companies that didn’t get chosen for accelerator loans.
{IMAGELEFT:https://www.massdevice.com/sites/default/wp-content/uploads/headshots/Oyler_Catherine_100x100.jpg}Catherine Oyler, a senior director for the company’s Corporate Office of Science & Technology, wouldn’t tell me which companies (sorry, I tried).
But Oyler is a real mover and shaker in the local life science game, representing the medical products giants as sort of an über-talent scout of emerging technologies. A typical day for Oyler involves traveling around the state finding products that Johnson & Johnson might want to add to its portfolio. If you’re lucky enough to get her on your calendar, you might want to wear a clean shirt.