Biopharma’s rapid growth in Medical Alley could get a kickstart with up to $100 million of federal investment in shared labs, infrastructure, and workforce development. Medical Alley Association worked with Greater MSP to organize and apply for the grant, part of the American Rescue Plan legislation passed in 2020. Up to 30 regions will be selected to receive between $25 and $100 million towards catalyzing economic development.
Medical Alley Association counts over 150 biotech and pharmaceutical members employing over 5,000 people and growing. Major investments from members Takeda, Kindeva, Bio-Techne, Upsher-Smith, and Aldevron have positioned Medical Alley as the next big biopharma hub.
The Phase 1 win secures $500,000 for planning projects spearheaded by Medical Alley members University of Minnesota, University Enterprise Labs, and Fairview Health Services, among others. Planners have until March 15th to submit their Phase 2 proposal.
Commenting on the importance of the industry and grant, Medical Alley Association’s President & CEO, Roberta Dressen, shared, “Medical Alley’s biopharma members are world leaders in cell & gene therapy. Securing the grant will accelerate growth and bring state of the art, life-saving products to more people around the world.”
About The Medical Alley Association
Founded in 1984, MAA supports and advances the global leadership of Medical Alley’s healthcare industry and its connectivity around the world. MAA delivers the collective influence, intelligence, and interactions that support Medical Alley.