Pennsylvania Biotechnology Center Named One of Most Successful Life Sciences Incubators in United States
Report from International Business Innovation Association Shows Center Outperforms Peers
DOYLESTOWN PA (July 1, 2018): The Pennsylvania Biotechnology Center in Doylestown is one of the most successful life science incubators in the country, according to a report released on May 30th from the International Business Innovation Association.
The report gathered data from 148 life science incubators across the country, and found that the Pennsylvania Biotechnology Center outperformed the majority of its peer institutions, ranking first or second in most markers of success. The report was commissioned by the Pennsylvania Biotechnology Center to gauge the performance of the Center against similar incubators nationwide and identify areas for improvement.
“We are proud that the Center has helped in the growth and success of so many innovative new companies,” said Louis Kassa, the Center’s Executive Vice President and Chief Operating Officer. “This report confirms that our unique approach of encouraging collaboration and entrepreneurship is highly effective in building successful companies.”
The study noted several specific areas of success for the Center, which include:
- The number and quality of stakeholders, including hospital and university affiliate partners;
- Over 15,000 square feet of wet-lab infrastructure, as well as competitive client provisions and assets offered;
- A combined exit value of $1.75 billion for graduate companies; and
- Stable revenue model for management.
Managed by the Baruch S. Blumberg Institute and led by a board appointed by the Hepatitis B Foundation, the Pennsylvania Biotechnology Center works as an "incubator" for over 40 small to mid-size science, research, and pharmaceutical companies as they develop ideas and grow their companies. Companies have access to shared equipment and resources as they develop. The report considered the success of both the current member companies, as well as those who have graduated from the Center and moved to larger facilities.
“The PA Biotechnology Center uses an innovative model in that we have the Hepatitis B Foundation and the Baruch S. Blumberg Institute as anchor organizations,” said Timothy M. Block, PhD, President and Co-founder of the Biotechnology Center and President of the Hepatitis B Foundation and the Baruch S. Blumberg Institute. “With these anchor organizations dedicated to drug and diagnostics discovery for liver disease, we are able to attract entrepreneurs to the center, and actively spin out new companies from our discoveries.”
The Center is currently undergoing a major expansion effort, which will add an additional 40,000 square feet of space, including laboratories, office space and an auditorium, and is expected to create 100 new jobs at the facility. The expansion is slated for completion in the summer of 2019.
About the Pennsylvania Biotechnology Center: The Pennsylvania Biotechnology Center offers state-of-the-art laboratory and office space to nonprofit research companies and biotech companies. Managed by the Baruch S. Blumberg Institute and led by a board appointed by the Hepatitis B Foundation, the Center was funded in part by the Commonwealth of Pennsylvania. The facility opened in 2006 in a formerly abandoned warehouse and has since grown to encompass 110,000 square feet on a 10-acre campus. To learn more, visit www.pabiotechbc.org.