Early stage life sciences companies awarded loans
The Massachusetts Life Sciences Center, a quasi-public agency that is charged with administering Governor Deval Patrick's $1 billion life sciences initiative, said it has awarded $3.75 million in loans to five early-stage life sciences companies.
Under the centerís Accelerator Program, loans of up to $750,000 can be provided to early-stage companies in the state that are engaged in life sciences research and development, commercialization, and manufacturing, the center noted in a press release.
Companies getting loans included AesRX Inc, a Newton biopharmaceutical company focused on the development of sickle cell disease and other orphan; drugs; MoMelan Technologies, a Cambridge medical device company; and Myomo Inc., a Cambridge company focused on helping people move again after a neuro-muscular impairment, the center said.
Two Worcester companies are also in line to receive loans: ECI Biotech Inc., a developer and manufacturer of affordable diagnostic sensors that can be incorporated into any consumer product or medical device, and Grove Instruments Inc., a company developing a painless, noninvasive technology that accurately measures blood sugar.