What Are the Keys to Philadelphia’s Status as One of America’s Fastest Rising Life Sciences City?

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Philadelphia has turned into a strong life sciences hub.
Image via iStock.

Philadelphia has gained great momentum in recent years as among the nation’s biggest life sciences markets, writes Jeff DeVuono for Brandywine Realty Trust

Over the last handful of years, Philadelphia has produced breakout companies and become a place where both new and established cell and gene therapy companies come to thrive.

In addition, Philadelphia has been at the forefront of some life sciences breakthroughs, such as the mRNA technology advances that led to the Pfizer and Moderna COVID-19 vaccines. 

The success stories can be highlighted by three key factors.

The first factor is the depth of talent that exists throughout the city.

As of last year, Philadelphia-based cell and gene therapy scientists have been granted more than 300 patents and leading more than 130 clinical trials. The number has risen about 20% since 2017. 

Another factor is an influx of funding.

Since 2018, Philadelphia has been the top market in NIH funding, including pulling in more than $1 billion in NIH support last year.

The third factor boils down to the millions of square feet of added space for life sciences companies in recent years, which has increased opportunity for both growing and established companies.

Learn more about Philadelphia’s rise as a life sciences commodity at Brandywine Realty Trust

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Philadelphia’s life sciences scene has grown considerably since this video was posted.

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