Philadelphia-area life sciences companies reeled in nearly $3B in the 1st quarter
By John George, Philadelphia Business Journal
trong investor interest in local life sciences companies continued during the first quarter of 2021 with 16 Philadelphia-area businesses reeling in more than $2.9 billion.
Cell and gene therapy companies, the industry’s hottest sector, accounted for more than $980 million of that figure.
The financial data was collected by the Chamber of Commerce for Greater Philadelphia’s regional CEO Council for Growth and its partners as part of the 2-year-old Cell and Gene Therapy and Connected Health Initiative to promote and expand the region’s strengths in life sciences.
“There is so much promising science coming out of our region, and funders have taken notice,” said Claire Greenwood, executive director of the regional CEO Council for Growth. “Cell and gene therapy is one of the fastest-growing industries in Greater Philadelphia.”
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