Genetic Engineering & Biotechnology News named the top 10 biotech hubs throughout the country and ranked Greater Philadelphia sixth for a second year.
Our 11-county region received this ranking based on multiple factors, including:
- Wexford Science + Technology’s One uCitySquare building, a 389,000-square-foot, 13-story office, lab, and retail space in University City, is expected to attract more life sciences companies to our region that are looking to relocate for a multitude of reasons, including facility expansion and talent.
- Amicus Therapeutics opened its Global Research and Gene Therapy Center of Excellence in Philadelphia, which brought 200 jobs to our region.
- Thomas Jefferson University opened its $7 million Jefferson Institute for Bioprocessing facility in Montgomery County with the Ireland-based National Institute for Bioprocessing Research and Training.
The biotechnology news organization shared that in the past year our region obtained $806 million in 37 venture capital deals, created approximately 48,000 jobs, has 10.6 million square feet of lab space, and more.
Just recently, it was found that 2019 has been Philadelphia’s most successful year for venture capital deals since 2000 with 93% of raises coming from heath care, pharmacy, biotechnology, and medtech companies.
Earlier this year, Amicus Therapeutics announced plans to expand to Greater Philadelphia and open a new Global Research and Gene Therapy Center that will continue to specialize in rare and orphan diseases. This expansion has proven to be a major asset to our region’s status as a life sciences hub.