Snapdragon Chemistry To Receive $150,000 Tax Incentive Award From Massachusetts Life Sciences Center
Waltham, MA – June 22, 2021 – Snapdragon Chemistry is among 28 life sciences companies throughout Massachusetts to be awarded with significant tax incentives to spur job creation from the Massachusetts Life Sciences Center (MLSC). The Waltham-based chemical technology firm leader is the recipient of a $150,000 tax incentive award for the creation of 10 new jobs in 2021.
“The Massachusetts Life Sciences Center has consistently supported Snapdragon Chemistry as we have grown, and we thank them for their steadfast partnership,” said Snapdragon Chemistry President and CEO Matthew Bio. “The MLSC tax incentive program, internship challenge, and MassRamp grant has supported our growth in the competitive and vibrant life sciences ecosystem of Massachusetts.”
“We are proud to once again have Snapdragon among our Tax Incentive awardees,” said Massachusetts Life Sciences Center President and CEO Kenn Turner. “The Life Sciences Center is a committed partner to companies like Snapdragon which are leveraging all the pieces of our thriving ecosystem to chart their growth and success.”
The current round of awards from MLSC and the Baker-Polito administration amount to $19.5 million in tax incentives and a commitment of more than 1,200 jobs. Since the Center’s inception, life sciences companies expanding across the state have created more than 8,000 jobs through the program.
Snapdragon has maintained a long-standing and valuable partnership with MLSC. In 2017, Snapdragon won a $200,000 grant from MLSC’s MassRamp program to support the development of some lab automation software. This began a multi-year investment in the creation of an Internet of Things (IoT) connected lab operating system, Snapdragon LabOS. This platform for automation and high-frequency data acquisition now runs all aspects of Snapdragon’s lab and manufacturing functions. Snapdragon LabOS is an extraordinary valuable tool, shortening the time it takes to deliver investigational drugs to clinic.
Snapdragon has also taken advantage of MLSC’s Internship Challenge program, with three of those interns now full-time employees at the company. Earlier this week, Turner and Mike Kennealy, Massachusetts Secretary of Housing and Economic Development and MLSC Board of Directors Co-Chair, visited Snapdragon’s headquarters, met with former co-op students and received a guided tour of the lab from Bio.
The new jobs come at a time of great growth and opportunity for Snapdragon. Earlier this year, the company announced plans for a new 51,000 square foot facility that will allow the company to manufacture experimental pharmaceutical products for human clinical trials, building off the research and development being done down the street at its headquarters.
The Tax Incentive program is available to companies involved in life sciences research, development, commercialization and manufacturing in Massachusetts. Applicants must commit to hiring at least 10 net new jobs in the calendar year and be able to retain them through 2025.
About Snapdragon Chemistry
Snapdragon Chemistry specializes in active pharmaceutical ingredient (API) batch and continuous flow process development, utilizing state-of-the-art automation technology and proprietary equipment to solve complex process and analytical development challenges. With R&D and manufacturing headquartered in Waltham, Massachusetts, Snapdragon’s 70+ employees come with strong ties to the local scientific community, with 31 PhD scientists on staff. For more information, please contact firstname.lastname@example.org.