Japan Chooses Philadelphia’s Science Center as Most Favored Location for Future U.S. Commercial Biotech Operations

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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas). Each year, the host city and state of the annual biotechnology industry trade conference receives welcome attention regarding their specific attributes. While Chicago and the state of Illinois caught a lot of flattering press during last month’s BIO 2006 show, a commercial biotech organization out of last year’s BIO host, Philadelphia, snared its own significant share of good news. In a deal announced during BIO 2006 that illustrates both the global nature of today’s biotechnology industry (reference: 2006 Pharmaceutical-Biotech Forecast) and the impact of contacts made at the trade conference, the Japan External Trade Organization (JETRO) announced the formation of a significant partnership with Philadelphia’s Science Center.

JETRO has designated the Science Center as a “Tiger Gate”, signifying the site as the preferred destination of those Japanese biotech firms seeking to establish operations in the U.S. The transaction exemplifies the Science Center’s international soft landing™ strategy in which the Center provides facilities for foreign early-stage companies that want to commercialize their products in the United States.

The Japanese companies that locate at the Science Center will benefit from the Center’s total “Venture Ecosystem". The system forms and funds early-stage life science and technology companies, accelerates their commercialization and provides the infrastructure and community they need to flourish. The Center currently offers almost two million square feet of specialized wet and dry laboratory facilities, turn-key management services, a $10 million venture fund and an experienced real estate management team. An ambitious expansion program is currently being planned at the Center (reference: Pharmaceutical Tracker - Online Database). The project is expected to eventually double the existing space to nearly four million square feet.

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