With more than 800 related companies and a rich network of health and education systems, the life sciences sector in Greater Philadelphia is growing at a steady pace. All the activity is driving local organizations to develop new infrastructure and local partnerships to cater the burgeoning segment. One prime example: uCity Square
“There’s nothing like it right now in the Philadelphia region,” Steve Zarrilli, president and CEO of the University City Science Center, told Invest:. A community for entrepreneurs and innovators, uCity Square is an example of the recent efforts to connect businesses, residents, institutions and innovators to form a growing hub in Philadelphia.“Spark Therapeutics and Invisible Sentinel are two of the companies located in University City, and we recently announced that Amicus Therapeutics is creating one of its research centers here as well. These and other companies at uCity Square will play a significant role in the growth of Philadelphia’s life sciences sector,” Zarilli said.
More than 80 percent of all companies in the life sciences industry have a presence in the Greater Philadelphia region. As stated in Invest: Philadelphia 2019, health-focused sectors provided an economic impact of $88.5 billion for Pennsylvania in 2016 and an economic output of $24.6 billion total between 2011 and 2016 for the Greater Philadelphia region.
Numerous research, biotech and medical devices organizations contribute to the role of life sciences as a key player in Philadelphia’s economy. The pharmaceutical company GlaxoSmithKline (GSK) is an example of that impact, with more than 3,400 people employed at its Upper Providence research and development facility.
According to GSK Vice President of Medicine Opportunities Research Unit David Payne, the site is the company’s hub for pharmaceutical R&D in the United States, and represents 40% of its global pharmaceutical R&D workforce.
As part of its efforts to contribute to the local life sciences sector, GSK continues to look for partnerships and alliances. “We want our U.S. R&D hub at Upper Providence to be a magnet for talented scientists, researchers and physicians. This is a great research center for innovators to build their careers. Every function required in the ‘molecule to medicine’ journey is represented at our hub, providing opportunities for employees to broaden their R&D knowledge and enable career progression and diversification,” Payne said.
Besides the demand for qualified professionals, there is also a need for infrastructure development to support the region’s scientists, entrepreneurs and life sciences companies. As Zarrilli explains, the Science Center’s goal is “to build an additional 3 million square feet of office, lab, residential and retail space over the next seven to 10 years, to further define the leading-edge community we envision at uCity Square. We will do our part to help make Philadelphia a leader in gene therapy and other areas of life sciences.”
As the growth in Philadelphia’s life sciences sector continues, it will impact different areas and draw more entrepreneurs and companies to the region. According to Zarrilli, the advances in the life sciences arena, especially in therapeutics, will lead to additional advancement in areas such as medical devices and digital health. “Life sciences is clearly the strongest area of innovation in Philadelphia, but it will spawn activity in other areas that are complementary.”