Penn’s role in the development of the city as a strong tech hub was highlighted in an article about the future of the growth of the life sciences in Philadelphia.
In the article, Sam Woods Thomas, senior director for business attraction and retention for the City of Philadelphia’s Department of Commerce, notes that research institutions, including Penn and CHOP, are the chief contributor to the industry’s local legacy, as they tend to foster notable research. For example, Philly is home to Penn-invented CAR T-cell therapy, which was the first to be approved by the FDA.
Thomas also notes how Penn spinout companies and the plurality of local real estate options for them further contribute to the growth of the life sciences ecosystem in Philadelphia. He states in the article: “The Philly region overall is well situated so that someone can start a company at Penn, go through the incubation and graduation stages in University City, and move to the manufacturing stage at the Navy Yard. Each of the stages a company goes through while growing requires a different type of real estate.”
A great example of this is Penn spinout Spark Therapeutics’, whose new 500,000-square-foot Gene Therapy Innovation Center is currently being built in West Philly and will be the future home to at least 500 jobs.
Read the full article about Philadelphia’s life sciences ecosystem here.