Q&A: A public company with a long history in Maine
Photo / Tim Greenway
Michael F. Brigham is president and CEO of ImmuCell Corp., a publicly traded biotech firm that makes preventative health products for dairy and beef cattle under the First Defense brand.
Michael F. Brigham is president and CEO of ImmuCell Corp. (Nasdaq: ICCC), a biotechnology company that makes preventative health products for dairy and beef cattle. Its flagship product, First Defense, provides immediate immunity in newborn calves against several diseases, without the use of traditional antibiotics. Brigham joined ImmuCell in 1989 — just seven years after its launch, and around the time when biotech was emerging as a major industry. He’s served in his current role since 2000.
Mainebiz: What do you feel are the most important benefits for a life-science business that chooses to move to Maine?
Michael F. Brigham: On the business side, access to reasonably priced real estate and top-quality employees should be the driver, in my opinion. I travel to New York City and Boston often. The cost of real estate is much higher there, and I don’t feel those cities provide any advantage in the quality of the employee pool. On the personal side, I could not deal with the crowds and traffic down there. Maine is very convenient. Just minutes from your office, you can be on a beach or lake or near a mountain and open, beautiful country.
MB: What are the most serious challenges for a bioscience company considering a move here?
MFB: I feel Maine competes well on quality, but maybe not on quantity. If a company is looking to hire a large workforce, it should have a relocation budget. Same with lawyers, accountants and consultants. There are many high-caliber professionals in Maine, but not as many as you would find in the bigger cities. Much of this work can be done remotely, but I appreciate the occasional in-person meeting. Fortunately, we are just two hours up the road from Boston.
MB: Is Maine becoming a biotechnology cluster?
MFB: Well, to be honest, not in comparison to the Kansas City Animal Health Corridor, for example. But there has been a lot of growth recently. There are now several animal health companies in the Portland area. That is a start.
MB: The Maine business community is regarded as very close-knit. Do you think that’s a help or a hindrance for a startup in the life-science field?
MFB: I really do not see “close-knit.” I don’t want to be negative. That may exist. I am just too busy “closing the knitting” around our team to get out much.
Plan for more. You will always need more square feet. You will always need more money. You will always need to hire more great employees. That is how you grow.
MB: How would you describe Maine’s life-science industry to a colleague from another part of the country?
MFB: We have four publicly-traded companies, and three of them have market caps over $2 billion. We also have several world-class research institutions. In addition, there are many smaller established and startup companies. The Bioscience Association of Maine is a great resource for information about what is going on in the state.
MB: Based on ImmuCell’s long presence in Maine, what’s the most important lesson you’ve learned about developing a life-science business here?
MFB: Plan for more. You will always need more square feet. You will always need more money. You will always need to hire more great employees. That is how you grow.
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