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NYC's Growing Life Sciences Ecosystem

 |  NYCEDC

PHD Biosciences

Where would we be without MRIs or Lipitor?

These innovations revolutionized healthcare, enabling us to diagnose and treat illnesses and live healthier lives. Diagnostics technologies like diabetes tests, research facilities, and other medical devices and therapeutics (medicines) all make up a vast and vital industry known as Life Sciences.

It’s an industry that New York City is uniquely positioned to lead.

NYC: A Leader in Life Sciences

New York City is home to top pharmaceutical companies like Pfizer, Eli Lilly, and Roche. We have some of the best centers for basic science on earth—including nine academic medical centers that received the largest amount of research funding from the National Institutes of Health in 2013, after Boston. We have one of the largest healthcare systems in the country, as well as robust and growing venture capital and technology sectors.

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All of these assets come together in Manhattan’s East Side Life Sciences Corridor, which is anchored by some of the world’s most prominent academic medical centers and institutions.

At NYCEDC, we’ve launched a suite of initiatives aimed at nurturing the Life Sciences sector right here in the five boroughs.

The NYC Life Sciences Ecosystem

To tap into NYC’s research and practical medical facilities, we at NYCEDC have utilized city assets to help Memorial Sloan Kettering Cancer Center and CUNY develop a new, $1 billion home for cancer care, nursing, and research facilities on the Upper East Side. To bring those advances in research to their full potential, we are building our capacity in emerging fields like genomics and bioinformatics by helping to support the NY Genome Center’s new 170,000 square foot research facility in Tribeca.

One of the most difficult hurdles for new companies, especially in New York, is affordable real estate. That’s why we’ve partnered with Columbia University to develop Harlem Biospace, an incubator that provides emerging life sciences companies with affordable space, mentorship, and programming.

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We’ve also partnered with the private sector to create more than a million square feet of state-of-the-art commercial wet lab space at the Alexandria Center for Life Science along the East River, pictured above.

To make sure that researchers with good, innovative ideas can bring those ideas to the market, we are also providing financing and other programmatic support to the industry. Through our Pilot Health Tech NYC program, we match early-stage health tech companies with healthcare providers to demonstrate and advance new technologies. And we’ll soon be announcing the launch of the New York City Early-Stage Life Sciences Funding Initiative to help create new life sciences companies that will address chronic disease while building the commercial biotech industry in the city.

There is still a great deal of potential to be tapped in New York City’s Life Sciences and Biotechnology sectors. A city that prioritizes science and healthcare research is not just helpful for a healthy, safe, and stable workforce, is vital for a sustainable economy

Stay tuned! In the meantime, learn about some of our current programs to boost the NYC bioscience industry here.

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