One of Philadelphia’s leading gene therapy companies is setting out to build what could be by far the most prominent biomanufacturing facility in the city to date. Spark Therapeutics will build a $575M gene therapy manufacturing facility on what is now a parking lot owned by Drexel University at 30th and Chestnut streets, the company announced Friday. Spark has agreed to… Read more »
Life sciences companies in the Philadelphia region attracted more than $1.1 billion in venture capital funding this year, with those developing cell and gene therapies leading the way. The three largest deals accounted for more than half of that figure. The year saw two companies, one a startup, reel in $200 million investments. NiKang Therapeutics… Read more »
Spark Therapeutics plans to invest $575 million to build a new gene therapy innovation center on Drexel University’s campus in Philadelphia’s University City neighborhood. Through a 99-year ground lease of Drexel University’s F Lot, the new gene therapy center will be located at the intersection of 30th and Chestnut streets. The 500,000-square-foot, multistory facility is… Read more »
Gattuso Development Partners has started construction on a flex production facility in Philadelphia’s Navy Yard as it responds to the skyrocketing demand for life science development, particularly for cell and gene therapy research and manufacturing space. Located at 2500 League Island Blvd., the 130,000-square-foot facility is set to feature 30-foot clear heights,14 loading bays and 360… Read more »
After more than a decade in Wayne, Life Sciences Pennsylvania is moving its headquarters to Discovery Labs in King of Prussia. Chris Molineaux, the CEO of the life sciences industry trade group, said the move is being made in part to accommodate the organization’s growing membership, which now includes more than 860 pharmaceutical, biotechnology, medical… Read more »
Gattuso Development Partners has secured construction financing to begin the development of a $50 million-plus, 130,000-square-foot life sciences manufacturing facility at the Philadelphia Navy Yard. The funding for 2500 League Island Blvd. was provided by Citizens Bank as well as Boston-based investment firm Baupost Group, which is Gattuso Development’s financial partner. This is the first… Read more »
A Boston real estate company backed by DRA Advisors was behind the purchase of five buildings at the Oaklands Corporate Center in Exton with an eye toward making an entrée into Philadelphia’s life sciences scene. Griffith Properties Inc., which focuses on life sciences conversions, bought the buildings off Creamery Way totaling 260,691 square feet for $43 million…. Read more »
BriaCell Therapeutics Corp., a publicly-traded Canadian company, and Ceptur Therapeutics Inc., a New Jersey company developing gene-based medicines, are among those tenants leasing space at Brandywine Realty Trust’s B. Labs incubator at Cira Centre. Half of the 50,000-square-foot incubator has been leased, according to the real estate company. Other tenants include: Leal Therapeutics, which is… Read more »
The University of Pennsylvania will dedicate $750 million over the next five years to support medical and scientific research, with plans to add dozens of faculty members and launch several new capital projects on campus. Penn is concentrating the funding in novel therapeutics and health-related initiatives, energy and sustainability, data engineering and science, and infrastructure… Read more »
While the team topped off One uCity Square, a $280 million, 400,000-square-foot life sciences building, it has already turned its sights on designing another project to capture the robust demand for lab space in Philadelphia. “We have an overflowing pipeline of tenants,” said John Grady, senior vice president at Wexford Science & Technology, which is building… Read more »
