RI Bio Executive Director Talks about the Growing Life Sciences Industry in RI

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RI Bio’s Executive Director, Carol Malysz, speaks with Commerce RI’s Matt Sheaff at BIO International about how the life science industry is growing rapidly in Rhode Island.

 

RI Bio Represents Rhode Island Life Sciences Industry
at Major Industry Conference

Conference in Philadelphia attracted more than 17,000 participants

Philadelphia, June 7, 2019 – The BIO International Convention that took place in Philadelphia earlier this week is known for attracting thousands of life sciences professionals from all over the world. And, against that setting, RI Bio made a pitch to come live, work and play in the Ocean State. Executive Director Carol Malysz shared the work of RI Bio and its mission to strengthen the life sciences ecosystem through collaboration and growth with companies, hospitals, universities, sources of capital and governmental partners – all in Rhode Island.

“We’re small but we’re mighty,” Malysz said during an interview at the conference. “The bioscience industry is growing rapidly and producing a lot of high-paying, high-value jobs. In RI, the average bioscience position pays about $88,000 per year, which is about $35,000 more than the average private sector job.”

 

Rhode Island made a pitch to life sciences companies to do business in Rhode Island, citing the value of the state’s close proximity to Boston and New York and access to talent from the state’s 11 world-class academic institutions.

Companies have taken notice.  Cambridge-based Rubius Therapeutics, recently acquired a 135 sq. ft. manufacturing facility in Rhode Island and plans to invest up to $95 million through 2020.  The company expects to hire approximately 150 people to be employed at the facility.  And Amgen announced that RI will be the location of its first Next Generation biomanufacturing plant.  The plant will incorporate multiple innovative technologies into a single facility and be built in half the construction time with approximately half the operating cost of a traditional plant.

Across the state, investments have been made to support the life sciences community, including $42M for Johnson & Wales Center for Science & Innovation, $88M for Brown’s new engineering building, $133M for URI’s College of Engineering and $158M for the Wexford Science & Technology Center.

“Rhode Island is gaining momentum and traction as an up and coming location for life science companies, talent and expertise” said Malysz.

Hosted by the Biotechnology Innovation Organization (BIO), which represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the U.S. and more than 30 other nations, the conference attracted over 17,000 participants from across the globe for education, networking and partnerships.

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