Why NYC?
New York City is well-positioned for success in the Bioscience industry, providing world-renowned research, talent, and resources no other city can offer.
- Scientific Talent: The New York metropolitan area has the largest bioscience workforce in the country, according to a recent Battelle study
- Research: $1.3 billion in NIH awards – New York City is ranked #2 in the nation
- City of Science: The City has the world’s largest concentration of academic institutions with nine major academic medical centers including Columbia University, Weill Cornell Medical College, NYU, Albert Einstein College of Medicine, and The Rockefeller University
- Existing Bioscience Cluster: Over 120 bioscience companies
Funding
New York City is a center of finance - there are over 100 Venture Capital firms investing in life science companies at all stages. Selected funding highlights include:
- $144M raised by Small Bone Innovations, one of the largest private equity capital financings for an orthopedic company
- $104M received from the Bill & Melinda Gates Foundation by The TB Alliance
- $88M Initial Public Offering by Medidata Solutions Inc.
- $82M raised by Paradigm Spine
- $75M raised by IRX Therapeutics
- $67M raised by ZIOPHARM
- $61M raised by Enzo Biochem
- $50M raised by Intercept Pharmaceuticals
- $32M raised by Delcath Systems
- $23M raised by Vivaldi Biosciences
- $21M raised by Palyon Medical Corp
- $15M raised by NeoStem, Inc.
- $12M raised by Stemline Therapeutics
- $12M raised by Therasis, Inc.
- $12M raised by Phreesia, Inc.
Research
New York City has the most developed medical infrastructure in the United States, with 57 hospitals including the Hospital for Special Surgery, Memorial Sloan-Kettering Cancer Center, and New York-Presbyterian Hospital.
New York City receives annually $1.3 billion in NIH funding, second in the country.
New York City led all cities in the country in NIH funding for Universities and Colleges, receiving more than $1 billion in grants during fiscal year 2007.
Talent
The New York metro region has more bioscience employees than any other metropolitan area in the US, according to a study by Battelle.
Other talent highlights include:
- New York City has more college students than any other US city.
- The City has 45,769 physicians, according to the New York State Department of Labor.
- The New York metropolitan area has the largest scientific and healthcare workforce in the country, which accounts for 427,300 jobs, according to the US Department of Labor.
- The New York metropolitan area has the highest tech employment in the country.
Commercial Activity
- The City’s academic institutions produce an average of 20 start-up companies per year.
- Major publicly-traded biopharma companies include Bristol Myers Squibb, ImClone Systems, Pfizer and Forest Laboratories.
