The Power of Partnership: Working Together to Enable Innovation
Massachusetts boasts the highest density of biotech companies in the world, ranging from emerging start-ups to established biopharma companies. And right in the thick of it is MassBio, the oldest biotechnology trade association in the world. Located in Cambridge, Massachusetts, it was founded in 1985.
The association represents about 1,700 member companies, according to Kendalle Burlin O’Connell, president and CEO of MassBio. In addition to start-ups and biopharma companies, members include academic institutions, research hospitals, government agencies, service providers, contract research organizations (CROs), and contract manufacturing organizations (CMOs).
“Right now is probably one of the most uniquely challenging time periods we’ve ever experienced as an industry."
More Than Saving Money
MassBio’s mission is to drive innovation by fostering a supportive and dynamic business environment in Massachusetts, and support industry growth by offering resources to its member organizations. “We work to support our member companies so they can bring innovative cures and solutions to patients,” added O’Connell. “We’re also a huge advocacy organization, both on a state and federal level.”
The Fisher Scientific channel, part of Thermo Fisher Scientific, which is also headquartered in Massachusetts, is a flagship partner of MassBio, bringing key deliverables to members via the MassBioEdge program, the organization’s purchasing consortium. “The impact our agreement with the Fisher Scientific channel has had on our members is so profound,” O’Connell said. When this program helps save members money, “That’s money they get to put right back into their science.”
Beyond the more than $25 million in rebates directly back to their members, the two companies provide impactful strategic value. For example, “The Drive program is an entrepreneurial accelerator program that we created to help provide business support to these companies,” said O’Connell. The Drive program consists of two eight-week sessions annually to help build a network of resources to support emerging companies.
The Align Summit is MassBio’s annual partnering conference. “This year, we had 500 folks in attendance,” O’Connell said. “Fifty-six companies pitched, including those in the Drive program. We had 90 investors. It was an incredible day about creating opportunities for collaboration and investment and partnership, but it was also about continuing to focus on the future and making sure we’re doing everything we can to get solutions to patients.”
Tangible Benefits for Members
One company, Beam Therapeutics, has been the beneficiary of MassBio’s advocacy and buying power. Beam Therapeutics, located in Cambridge, Mass., is redefining the future of genetic medicine through base editing, a technology designed to enable precise and efficient single base changes without making double-stranded breaks in DNA.
According to Christopher DiNardo, head of procurement and strategic sourcing, MassBio has enabled Beam’s mission. “We’ve been able to streamline procurement processes, standardize consumable sourcing, and reduce cycle times.” The relationship allows Beam scientists to focus on advancing science rather than managing logistics.
Additionally, the partnership with the Fisher Scientific channel has been crucial in strengthening Beam’s supply chain. They can consolidate ordering, improve visibility across spend categories, and help ensure access to critical materials. He added, “It’s a great example of how strategic collaboration can enhance cost control and operational resilience across the enterprise.”
A Challenging Environment for Biotech
Since MassBio created the Drive program, the participating companies have received more than $70 million in Series A funding, a significant achievement given the tight funding market we’re in right now, commented O’Connell.
How tight is that market? According to MassBio’s Industry Snapshot for 2025, the total National Institutes of Health (NIH) funding in Massachusetts was down in 2024, ahead of mixed signals and uncertainty this year. Venture capital (VC) funding deals nearly matched last year’s, but are down 17 percent from 2024, with more than half the dollars going to the top 10 deals. Initial public offerings (IPOs) and mergers and acquisitions (M&As) are also down, with only one Massachusetts company gaining an IPO in 2025.
“Right now is probably one of the most uniquely challenging time periods we’ve ever experienced as an industry, both from a tight market perspective [that is] compounded by a challenging political and regulatory landscape,” said O’Connell.
But she doesn’t let the market get her down. The partnership between MassBio and the Fisher Scientific channel isn’t about sales numbers. At a recent panel discussion with women leaders of biotech companies, O’Connell asked the leaders what drives them. “They started to talk about the patients they’re serving. And you could see the whole conversation shift to: ‘This is why we can’t be distracted. This is why we can’t give up.’”
O’Connell reflected on the words of her Fisher Scientific colleague who recently retired, Bill Schweizer, who was vice president of the Northeast region. “He would say, ‘We’re not doing the science, but we’re so fortunate to play such an important role in helping these companies truly change the lives of patients.’” This is the heart-warming perspective that O’Connell strives to keep front and center for MassBio.
To learn more about MassBio membership benefits, visit fishersci.com/massbio.
Dawn Patton Mangine is a Thermo Fisher Scientific staff writer.