Boston Biomedical celebrates its Grand Opening
Boston Biomedical, Inc (BBI), a Massachusetts-based biotech company with a mission to develop the next generation of targeted cancer therapeutics, hosted its grand opening event this week in Cambridge. Located at 640 Memorial Drive, the company occupies 65,000 square feet and employs approximately 50 people. A great aspect of this company is its passionate commitment to its people. Dr. Chiang Li, President and CEO of BBI noted that during the worst of this most recent economic downturn, they made a variety of tough financial decisions so they did not have to lay off any of their employees…and they never did.
These cost saving measures won them the recognition of most capital efficient company of the year, and one of the most capital efficient biotech companies in history in 2012, by The Venture Capital Journal jointly sponsored by the Wall Street Journal and Reuters.
Former Governor of the Commonwealth of Massachusetts William Weld was on hand to during the celebrations and mentioned how his administration helped level the playing field for life sciences companies in Massachusetts. During his tenure, the State began working directly with companies to improve the business climate. “We weren’t trying to pick winners from losers, we were trying to make it easier for the winners to win.”
The new home to BBI at 640 Memorial Drive is a LEED Gold building owned by MIT.
BBI is recognized as an industry leader in the creation of drugs designed to target cancer stem cells (CSCs). CSCs are a sub-population of cancer cells that are highly malignant and are considered to be fundamentally responsible for cancer growth, recurrence, drug-resistance and metastasis. Moreover, CSCs are highly resistant to current chemotherapies and targeted agents. Targeting CSCs, therefore, holds great promise for fundamentally advancing cancer treatment.
BBI was founded in 2006 by Dr. Chiang J. Li, MD FACP. In April, 2012 Dainippon Sumitomo Pharma (DSP) of Osaka, Japan acquired BBI. After the acquisition, BBI became 100% owned by DSP and continued its operations in the Boston area. BBI has developed a unique corporate culture and has full capability for oncology drug research and development including drug discovery, crystallography, medicinal chemistry, preclinical development, pharmacology, pharmaceutical development, global clinical trials and regulatory affairs. Moreover, BBI scientists have established an extraordinary track record of accomplishments, including the discovery and development of over 10 discovery-stage oncology programs and 5 clinical-stage oncology programs including BBI608, a CSC inhibitor in Phase III trials in North America and Australasia; and BBI503, a CSC kinase inhibitor currently in Phase I trials in North America.
BBI aims to continue to leverage its innovation-driven culture, scientific leadership and drug development expertise in order to advance the development of novel cancer therapeutics for patients suffering from cancer.