Keystone LifeSci Collaborative Launches to Support Regional Sector Growth and Workforce

A new initiative in Greater Philadelphia is bolstering the growth of the region’s life sciences sector and strengthening the industry’s robust talent pipeline. The Keystone LifeSci Collaborative (KLSC), which launched on Wednesday, March 6, 2024, is a business-centered forum supported by new funding from the American Rescue Plan through the U.S. Economic Development Administration’s Good Jobs Challenge.

KLSC is guided by a steering committee with members in life sciences, workforce development, education, and economic development working to address ongoing shared business priorities and enhance regional competitiveness in the life sciences […]

Greater Philadelphia Raises $2.4 Billion Across 403 VC Deals in 2023

On February 26, 2024, the Philadelphia Alliance for Capital and Technologies (PACT), in conjunction with PitchBook, released its 2023 Philadelphia Venture Report. The report covers dealmaking trends across sectors, stages, exits, and fundraising. The findings portray a resilient region that remained strong despite a nationwide slowdown in VC dealmaking in 2023, particularly in the pre-seed and seed funding stages. In 2023, Greater Philadelphia accumulated $2.4 billion in investment across 403 deals, maintaining its position among the top five most active regions nationally for venture deals. The report stated […]

Discovery Starts with Iovance’s Iyana Pearson

Lifelong Philadelphian Iyana Pearson loves cheering on Philadelphia’s sports teams, exploring the region’s nationally recognized food scene, and helping others through her work. Whether as a dialysis tech or a home health aide, being able to make a difference in people’s lives is a part of Pearson’s moral code. What she didn’t know was that she would end up taking this ambition to Iovance to work with cutting-edge cell therapies.

Pearson is a graduate of the first cohort of the Biomedical Technician Training Program (BTT) program, […]

The Chamber’s FY23 Pennsylvania Budget Summary Includes Grants to Support Select Greater Philadelphia’s Business Attraction Efforts

This session in Harrisburg, the Chamber of Commerce for Greater Philadelphia (the Chamber) successfully advocated for a cut in the Corporate Net Income Tax rate, additional funding for schools, economic development funding for business attraction, and an increase in the R&D tax credit, among other issues. Notably, Select Greater Philadelphia will receive grants to market the region for business attraction. Learn more and view the full summary below.

The Chamber of Commerce for Greater Philadelphia FY23 Pennsylvania Budget Summary 

Overall Budget 

The Pennsylvania General Assembly approved a General Appropriations Bill (Senate Bill 1100) that spends almost $43 billion in state funding and just […]

Surge in Life Sciences Investment in Region Continues: 2021 Total Exceeded $12 Billion

The life sciences sector in Greater Philadelphia benefited from robust investment in 2021. The 11-county area of Southeastern Pennsylvania, northern Delaware and southern New Jersey combined saw more than $12 billion invested, according to biopharma database company DealForma. The $12 billion tally included more than $3 billion for cell and gene therapy. Investment deals ranged from Series A rounds through IPOs. Among the technologies funded were biologics, cell and gene therapy, small molecules, as well as medical device and digital health, including artificial intelligence.

Reflected in the DealForma data were eight IPOs with a combined value of more than $750 million. […]

CEO of Comcast-IBC joint venture Quil discusses beta testing its next product and ‘hiring like crazy’

The digital health joint venture formed by Comcast Corp. and Independence Blue Cross is set to launch its second product early next year.

Article from Philadelphia Business Journal 

Philadelphia’s startup ecosystem climbs 15 spots into the top 30 worldwide, report says

Philadelphia’s startup scene is ranked amongst the best-performing in the world according to Startup Genome.

Article from Philadelphia Business Journal 

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