BioAdvance was awarded $33.8 million from the Commonwealth’s share of tobacco settlement monies to grow the life sciences industry in Southeastern Pennsylvania. To fulfill its mission, BioAdvance will:
  • Invest in emerging life sciences technologies with the most promising commercialization prospects.

  • Accelerate the transfer of technology from research laboratories to start-ups and established companies.

  • Build collaborations between academic, entrepreneurial, corporate, financial, and government partners.

  • Attract, retain and support life sciences entrepreneurs.

BioAdvance will build on the region’s strengths and expertise by focusing on biopharmaceutical opportunities including therapeutics, devices and related technologies. The region enjoys an unrivaled base of academic institutions, research facilities, hospitals and other healthcare resources, and it has the second largest concentration of biopharmaceutical jobs in North America. Additionally, the region is centrally located in the government and financial services corridor along the East Coast.

A broad-based consortium of research, industry, and community organizations came together to found BioAdvance and to select its prestigious board of directors. These distinguished individuals have contributed to as well as benefited from the region’s life sciences industry as evidenced by their success stories. The board recently selected an experienced management team to launch the greenhouse programs.