NY health data firm moving its headquarters to Boston
A New York-based startup that mines health care data to determine what cancer medicine would work best for a particular patient — and be most cost effective — is moving its headquarters to Boston.
COTA, which was founded in 2011 by doctors, engineers, and data scientists, next week plans to open at 101 Arch St., in Downtown Crossing.
The firm has 70 employees and expects to ultimately move most of them to Boston, according to its CEO, Michael Doyle. With more hiring planned, he predicted the Boston head count will exceed 100 by the end of next year. The privately held company will retain a small office with about 20 employees in Manhattan.
“Our ability to attract and retain folks in New York is limited compared to Boston,” said Doyle, a 1980 graduate of Tufts University who has homes in the Back Bay and on Cape Cod. “The talent pool in Boston is much larger for the life sciences and for computer science.”
It’s also less expensive to live in Boston than in New York, he said, although no one would say the former is cheap.
Doyle said he accepted the job seven months ago only after COTA’s board of directors agreed to let him move the headquarters to Massachusetts, whose booming life sciences hub is attracting foreign and domestic companies alike.
Doyle ran Boston-based QPID Health, a venture-backed developer of software, from 2012 to 2018, when it was acquired by South Carolina-based eviCore healthcare, a medical benefits management company.
COTA said in May that it signed a two-year deal with the Food and Drug Administration to analyze data to compare the outcomes of breast cancer treatments.
The firm also has a partnership with the Multiple Myeloma Research Foundation.