908 Devices, a pioneer of purpose-built analytical devices for chemical analysis, today announced it has made significant investments in its Life Science division, succeeding a prosperous Series C funding round last year. Recent investments include the opening of a new Life Science laboratory in North Carolina, the hiring of a new Life Science leader, and the expansion of the Company’s Boston headquarters. Further building upon this growth, the Company has been awarded $165,000 in tax incentives through the Massachusetts Life Sciences Center’s Tax Incentive Program.
Offered by the Board of Directors of the Massachusetts Life Sciences Center (MLSC), the program aims to promote the growth of companies in the Commonwealth that are engaged in Life Science research and development, commercialization and manufacturing. 908 Devices will use the additional capital to continue its momentum and innovation in the Life Science market through the creation of a minimum of 11 new jobs within the Commonwealth. This award comes less than a year after 908 Devices received its Series C funding round, which accelerated the Company’s entry into the Life Science market. This original investment is fueling the expansion of resources to meet market demand and supported the introduction of ZipChipTM, an innovative, front-end system that provides seamless, high-quality separation capabilities for traditional mass spectrometers (MS).
“With this award from MLSC, we will introduce additional resources that will help our team keep pace with the tremendous demand we are experiencing in the Life Sciences arena,” said Dr. Chris Petty, Co-founder & VP of Business Development, 908 Devices. “As a result of these incentives, we will be welcoming new talent to our team, adding vital equipment to our operations and continuing to grow our lab spaces all in an effort to further develop our Life Science portfolio.”
Since launching the revolutionary ZipChip system earlier this year, the Company has sold and installed systems at multiple leading biopharmaceutical companies, mid-sized biotherapeutics groups and key academic institutions across the U.S. In order to meet demand, 908 Devices has opened a new Life Science center in Carrboro, North Carolina and has expanded its Boston headquarters. The center will focus on Life Science application and product development. In Boston, Dr. Gary Paul has been appointed as the Commercial Leader within the Company’s Life Science division. Dr. Paul’s primary focus will be helping to bring to market new capabilities for key Life Science applications, such as biotherapeutics characterization and metabolomics studies.
“This is an exciting time for 908 Devices,” said Gary Paul, Commercial Leader, Life Sciences, 908 Devices. “The company is continuing to grow and innovate, placing it in a strong position to become a key player throughout the Life Science industry. These recent financial investments reinforce the industry’s confidence in our technology and will enable us to drive fresh innovation and bring new, game-changing solutions to our customers.”