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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.
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