The University of the Sciences Launches Cannabis-Focused MBA Program

The University of the Sciences graduate students will be able to receive a Master of Business Administration (MBA) degree with a specialization in the cannabis industry starting this fall.

While there are other universities in the country that offer courses on marijuana, this program will be the first-of-its-kind to focus on the commerce of cannabis, hemp, and dispensary operations.

“We’ve seen rapid growth in an industry that needs business leaders,” said Andrew Peterson, executive director of the University of the Sciences Substance Use Disorders Institute. “Our MBA is concentrated on the pharmaceutical and health care industries, where medical cannabis fits very nicely.”

Four online courses will be available as a part of their Pharmaceutical and Healthcare Business Curriculum, including:

  • Introduction to the Medical Cannabis Industry
  • Finance and Regulation of the Cannabis Industry
  • Cannabis Marketing and Sales
  • A team project that may involve writing a business plan or launching a product and require student visits to the University of the Sciences West Philadelphia campus.

The university plans to collaborate with Franklin Biosciences, a large Denver-based grower that also owns Beyond/Hello dispensaries in Pennsylvania. This partnership will develop a cannabis education program for health professionals, including pharmacists, physicians, and students.

A few years ago, Rowan University in Glassboro, NJ expanded their programing and opened a new $63.2 million business school to attract the next generation of problem-solvers. As our region’s universities and colleges grow, they will continue to drive the economic activity throughout Greater Philadelphia.

Two Greater Philadelphia Companies Favored by Millennials

Two Greater Philadelphia companies were ranked on Fortune and Great Place to Work’s list of the “Best Large Workplaces for Millennials 2019.”

To be considered, companies must have more than 50 millennial employees who were asked to respond to 60 survey questions.

Comcast NBCUniversal, the Philadelphia-based global media and technology company, ranked 16 spots higher than last year at number 56 as respondents shared how the company treats employees with care. One participant said, “Leadership legitimately cares about their team members, and the company understands that nurturing the strengths of its employees to progress them to positions they can excel in is not only a benefit to the workers, but the company as a whole.”

Chester-based Power Home Remodeling was rated 7 out of the 75 national companies considering 92% of Power Home Remodeling’s employees are millennials. Employees told Great Place to Work, “You are given the space and resources to make your own decisions. I love having the freedom and trust to make important decisions. It has helped me grow exponentially professionally.”

This past month, Comcast NBCUniversal was ranked 6th on the Top 50 Companies for Diversity. Companies throughout Greater Philadelphia continue to focus on workforce development and retaining talent in our region.

North Carolina Airline Company Relocates to Greater Philadelphia

Eastern Air Lines is moving its headquarters from North Carolina to an approximately 18,000 square-foot space in Wayne, Pennsylvania.

Earlier this year, Steve Harfst, the current President and CEO of Eastern Air Lines, said the relocation to Greater Philadelphia would better serve its future needs and business plans.

The company currently has five planes, but plans to double that to a total of eight passenger flights and two cargo planes.

In 2018, the airline company changed its name from Dynamic International Airlines while rebranding under a new owner, Kenneth Woolley, the founder of Extra Space Storage Inc.

Earlier this year, Frontier Airlines provided flights to five new destinations originating from Philadelphia International Airport (PHL). The Greater Philadelphia business community continues to grow as more travel options emerge and companies relocate to our region.

Edit: Name corrected to Eastern Air Lines

FDA Approves New Research and Training Facility in DE

A Delaware biopharmaceutical manufacturer, the National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL), is partnering with the FDA to regulate their new biopharmaceutical manufacturing training and research facility.

The agreement, referred to as a Creative Research and Development Agreement (CRADA), will provide the legal framework for the biopharmaceutical network and allow for industry-wide collaboration at NIIMBL’s new headquarters in Newark, Delaware.

“The NIIMBL space will be a neutral 3rd party space, if you will, where various members of our ecosystem can come together and work collaboratively on these projects to advance the technologies, to advance workforce training activities,” said Kelvin Lee, the NIIMBL Institute Director and University of Delaware Gore Professor of Chemical Engineering.

The facility will open at the University of Delaware’s STAR campus in the next year with the Delaware Biotechnology Institute and the University of Delaware’s biomedical engineering program.

There are approximately 60 NIIMBL biopharmaceutical manufacturing projects currently that are focusing on sterilizing medication and advancing technologies for manufacturing cell therapies and gene therapies.

DuPont recently opened a global industrial biotech headquarters in Wilmington, Delaware. The space was strategically created as one collaborative place for scientists, customers, and businesspeople to stimulate innovation and communication throughout our region’s life sciences community.

Delaware Welcomes Fifth Cannabis Dispensary

A fifth marijuana dispensary is opening in Wilmington, Delaware called Columbia Care. This will be Columbia Care’s second Delaware location, the first location is in Smyrna, DE, a town located in Kent and New Castle counties.

In Delaware, 5,000 residents are certified to purchase medical marijuana by their doctors. Medical marijuana can be used to treat many medical conditions, including chronic pain. Columbia Care employees also take into consideration patients’ needs before referring them to their cannabis-based medicines.

The New York-based medical cannabis company has an agricultural production facility in Milford, DE, where it produces its products in a controlled-environment for their Delaware market.

Medical marijuana has more commonly become a treatment for pain management. On a recent Growing Greater podcast episode, a medical practice headquartered in southern New Jersey called Relievus joined us to share their focus on the art of pain management through the use of progressive treatments, including medical marijuana.

Burlington County Amazon Warehouse Hiring Hundreds

Amazon announced it is actively looking to fill 600 full-time positions in the 1 million square foot Burlington County, New Jersey fulfillment center.  The new center will store electronics, pet food, and furniture, among many other household products.

The position starts at $15 an hour and provides full benefits, including 20 weeks of maternal and paternal paid leave. Employees will be responsible for retrieving orders and packaging and shipping the products to an Amazon customer located in our region.

This fulfillment center currently has 2,000 employees and is expected to be fully operational by November.

It was only last summer that Amazon shared plans to build this Burlington County facility and create 600 new jobs. The company now has well over 16,000 full-time employees in the state of New Jersey.

Real Estate Boom in the Wake of Life Sciences Growth

Developers in Greater Philadelphia are experiencing a demand for office and lab space as life sciences companies move to the region.

Just two years ago, the FDA approved the first-ever gene therapy by Spark Therapeutics and the first-ever cell therapy by Novartis here in Greater Philadelphia. Since then, the region’s status as a biotech hub has seen tremendous growth.

This year, millions of square feet in the region have been planned out as potential office and lab space. Republic Properties Corp., a real estate firm from D.C., is developing an eight-story building to attract gene and cell therapy companies. In King of Prussia, The Discovery Labs has begun renovating approximately one million square feet of office space into their life sciences coworking campus. The California-based Iovance Biotherapeutic is expanding to the Philadelphia Navy Yard to build a 136,000 square feet office, lab, and production facility. Additionally, the Wistar Institute will become the partner and anchor tenant of University Place 3.0, a commercial space in University City developed by University Place Association.

The founder and CEO of University Place Association, Scott Mazo said, “As a developer and someone who lives in Philadelphia, life science right now seems like the opportunity that has been missed several times in the past. We’re getting calls from names all around the country, and we’re being considered as the top place in the country in terms of cancer and gene therapy research.”

Years prior, Boston was notoriously known as the global hub for life sciences, but recently Greater Philadelphia has become a life sciences hotspot with more space and talent. Jeff Marrazzo of Spark Therapeutics referred to Greater Philadelphia as “a hotbed for gene and cell therapy innovation” while thousands of biotech professionals and prospecting companies traveled to Philadelphia for the BIO 2019 International Convention.

Prelude Therapeutics Advances Cancer Research to Clinical Stage

Prelude Therapeutics, a biopharmaceutical company located near Wilmington, Delaware, secured funding to establish and advance its drug discovery programs. In total, the company received $60 million in second stage of startup funding, otherwise known as series B financing.

Three years prior, Prelude developed its first discovery program that targets Protein Arginine Methyltransferase 5 (PRMT5) to attack cancer cells. Now with $95 million in total investments, the biopharmaceutical company will advance its PRMT5 inhibitor, known as PRT543.

“We believe PRMT5 inhibitors represent a promising new class of drugs to treat cancers, including ones that have developed resistance to existing targeted therapies. We are also pleased to have assembled such a talented, experienced, and proven leadership team to address some of the most pressing gaps in cancer treatment,” said Kris Vaddi, founder and CEO of Prelude Therapeutics, in a press release.

Prelude operates in the Delaware Innovation Space at the DuPont Experimental Station and is led by another Wilmington-based biotech company, Incyte Corp.

Last month, the CEO of Incyte, Hervé Hoppenot, spoke at the Greater Philadelphia Life Science and Innovation Showcase to address biotechnology leaders who were in Philadelphia for the BIO 2019 International Convention. Hoppenot shared why Incyte relocated to Greater Philadelphia and the positive impact it had on the company in an effort to market the region as a life science hub.

Virtua Strengthens New Jersey Health Care System

Virtua Health acquired Our Lady of Lourdes Medical Center in Camden and Lourdes Medical Center of Burlington County in an effort to consolidate and strengthen the health care system in New Jersey.

The Lourdes Medical Center of Burlington County will now be known as the Virtua Willingboro Hospital and Our Lady of Lourdes Medical Center in Camden will be referred to as Virtua Our Lady of Lourdes Hospital.

The entire Virtua Health system now employs 13,000 people in its 280 practices and outpatient care facilities.

“Now we can begin the process of building a better, healthier future for the people of South Jersey,” said Dennis W. Pullin, President and CEO of Virtua. “The best interest of the community has been the driving force behind this process and it will be our cornerstone moving forward.”

Virtua Health has acquired multiple hospitals recently due to the Affordable Care Act’s focus on shorter hospital stays. The merger provides negotiation power for smaller hospitals seeking funding from insurance companies for improvements.

Last November, Virtua was recognized as the Most Wired health organization due to their leadership in the use of information technology (IT) to improve health care. Virtua continuously focuses on patient satisfaction and bringing high-quality, affordable health care to Greater Philadelphia residents.

Boston Biopharmaceutical Company Expands Philadelphia Office

Alnylam Pharmaceuticals, the Boston-area biopharmaceutical company specializing in RNA interference therapeutics, a natural cellular process of gene silencing, plans to hire an additional 11 employees. Alnylam currently has a team of four employees working from their Philadelphia office in University City.

The CEO of Alnylam Pharmaceuticals, John Maraganore, anticipates that overtime Philadelphia will become “another core center for Alnylam” due to the large presence of major biopharmaceutical companies in the region, such as Merck and Johnson & Johnson.

Our regions life science talent has had a major influence on this decision, according to Maraganore. “There’s a lot of competition for talent up here and there is lot of [life sciences industry] talent in the tri-state area there around Philadelphia. We felt we could find a way to harness some of that talent by setting up a site there.”

Alnylam is in the process of developing a new drug to treat a series of rare genetic diseases that attack the nervous system called acute hepatic porphyria. The biopharmaceutical firm is also in the process of developing 10 other treatments for a variety of genetic diseases.

Another Boston-based company expanded to Philadelphia in 2017 called the Cambridge Innovation Center (CIC). The innovation center occupies 127,000 square feet in uCitySquare for entrepreneurs to improve and accelerate their business throughout Greater Philadelphia.