It will also support Scottish life sciences companies seeking to expand their operations in the US through investor engagement, commercial partnerships, compliance assistance and access to healthcare providers.
The UK Government and Scottish Government are contributing £49,000 to the programme.
UK Secretary of State for Scotland Douglas Alexander joined First Minister John Swinney to announce the new initiative during a presentation at the University of Edinburgh’s Institute for the Future, organized by Venture Café.
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Mr Alexander said the funding would put Scotland at the “vanguard of health development”.
He said: “By investing in the biobridge, the UK Government is supporting the growth of Scottish businesses domestically and internationally.
“Creating opportunities such as this link with organizations in Massachusetts puts Scotland at the forefront of healthcare developments that will improve lives around the world.
“The UK Government is committed to driving growth as we create a pro-business culture and innovation-led economy in every part of the UK.
“Scotland is recognized globally for its excellence in health innovation, from therapeutics and diagnostics to clinical research and digital health.”
Scotland’s life sciences sector has over 700 businesses and exports are valued at approximately £4.9 billion, with plans to increase to £25 billion by 2035.
Mr Swinney said the biobridge connection would help expand opportunities in Scotland for US companies.
The First Minister said: “Scotland and Massachusetts share a special bond that continues to grow, from the World Cup, when the Tartan Army captured the hearts of millions around the world, to the creation of the twin cities of Glasgow and Boston.
“This new biobridge builds on these connections, creating new opportunities for economic growth on both sides of the Atlantic, while strengthening Scotland’s position as a leading global center for innovation and discovery in the life sciences.
“Our recently published program for government will help build on the sector’s existing strengths and accelerate future growth by reducing regulatory barriers and stronger partnerships between industry, the NHS and care providers, helping to attract further investment and create high-paying jobs across Scotland.”
The initiative will involve delegations from Scotland and Massachusetts coming to share knowledge.
Massachusetts Governor Maura Healey said: “I am proud of the strong relationship that Massachusetts and Scotland have built over the years, and the ambition, innovation and collaborative spirit that has brought us together.
“This biobridge brings our world-class life sciences communities even closer together, creating new opportunities to turn great ideas into life-improving breakthroughs. I’m thrilled to support this work and see what we can achieve together.”