As a life sciences cluster, the BioHealth Capital Region is poised to become a top-three cluster in the Genetic Engineering & Biotechnology News (GEN) Top 10 Biopharma Clusters ranking on the strengths of early-stage companies becoming commercial successes and the construction of millions of square feet of new wet lab space.
For 2021, the BHCR held onto the fourth-place position behind New York/ New Jersey, San Francisco Bay Area, and the greater Boston area. The latest ranking was revealed at the seventh annual BioHealth Innovation Forum. The region held onto the coveted spot for multiple reasons, including significant funding from the National Institutes of Health, available wet lab space, and patent strength protecting intellectual property.
Pete Brisbane, Executive Managing Director JLL, Mid-Atlantic Life Sciences Practice, said that as a cluster, the BHCR is doing “fantastically well” and will only improve over the next two years. In fact, Brisbane predicted that by 2023, the BHCR could overtake the New Jersey/ New York biopharma cluster in the number three spot based on increased venture capital funding, new wet lab space, and the fact that “the region will thrive as early-stage companies become commercial companies.”
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