Furthermore, two years since the Bloomberg Administration galvanized a public-private effort to assemble a $150 million fund to back biotech startups, not a penny has been invested. And as for Mayor Bill De Blasio, he “only cares about housing in Queens,” one industry exec said under the shroud of anonymity. As the FT notes, the city’s academics are perhaps less commercially minded than those in Cambridge. The idea is to Kendallishly site private companies next to academic institutions - in this case Rockefeller University and Weill Cornell Medicine - and let the magic of entrepreneurial science do the rest.īut it hasn’t really happened. The site consists of two towers on the East River, home to Roche, Pfizer, Eli Lilly, and some smaller drug makers. Tarrytown’s Regeneron is the area’s biggest and most respected native biotech, but asking it to preside over a New York City cluster would be like expecting the staff at Gillette Stadium to nurture an ultimate frisbee league on Boston Common.Īnyway, the Financial Times is the latest to look at the issue, and it zeroed in on a huge new structure owned by life sciences megalandlord Alexandria Real Estate. You’ve probably read some version of this story - I’ve written at least two - and thus know that the Big Apple’s staggering cost of real estate is a hindrance, as is the lack of an anchoring industry cornerstone. Here’s a familiar question: How come New York City, the seat of modern capitalism, isn’t more of a biotech hotbed? We’re talking about a New York biotech cluster -again Have an out-of-body experience during Boyz II Men’s performance last year? Witness a nationalist scuffle at BIO 2014’s weird World Cup pavilion thing? Or maybe you shared an elevator with the ex-boss who foolishly laid you off? Share your experience.
Beginning June 6 is a week of wonky panels and schmoozy parties that hopefully won’t end the way its thematic namesake did.Īnyway, I want to hear your stories from BIOs past.
This year, the conference is in San Francisco, and the theme is “ Summer of Love,” because why not. Exclusive analysis of biotech, pharma, and the life sciences Learn MoreĮach year, biotech’s many dealmakers, headhunters, and hangers-on descend upon an unsuspecting American city for the multi-day ode to the industry that is BIO, hearing pitches from would-be partners and loading up on inane tchotchkes from biocurious nations around the world.
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