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Biotech and pharmaceutical companies in th … Biotech and pharmaceutical companies in the New York metropolitan area represent a significant and growing economic component of the New York metropolitan area, the most populous combined statistical area in the United States and one of the most populous megacities in the world. The biotechnology sector is growing in the New York City area, based upon the region's strength in academic scientific research and public and commercial financial support. By mid-2014, Accelerator, a biotech investment firm, had raised more than US$30 million from investors, including Eli Lilly and Company, Pfizer, and Johnson & Johnson, for initial funding to create biotechnology startups at the Alexandria Center for Life Science, which encompasses more than 700,000 square feet (65,000 m2) on East 29th Street and promotes collaboration among scientists and entrepreneurs at the center and with nearby academic, medical, and research institutions. The New York City Economic Development Corporation's Early Stage Life Sciences Funding Initiative and venture capital partners, including Celgene, General Electric Ventures, and Eli Lilly, committed a minimum of US$100 million to help launch 15 to 20 ventures in life sciences and biotechnology in 2014, and in January 2018, the City of New York itself committed up to US$100 million into the venture. In December 2014, the State of New York announced a US$50 million venture-capital fund to encourage enterprises working in biotechnology and advanced materials; according to Governor Andrew Cuomo, the seed money would facilitate entrepreneurs in bringing their research into the marketplace. New Jersey has a nickname "Medicine Chest of the World" due to its large workforce in biopharmaceutical industry. As of 2019, twelve of top 20 biopharmaceutical companies in the world has U.S. headquarters in the state. Below is a list of notable New York metropolitan area biotechnology and pharmaceutical corporations, including companies with either global or U.S. headquarters in the metropolitan region encompassing and surrounding New York City.ncompassing and surrounding New York City.
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Biotech and pharmaceutical companies in th … Biotech and pharmaceutical companies in the New York metropolitan area represent a significant and growing economic component of the New York metropolitan area, the most populous combined statistical area in the United States and one of the most populous megacities in the world. In December 2014, the State of New York announced a US$50 million venture-capital fund to encourage enterprises working in biotechnology and advanced materials; according to Governor Andrew Cuomo, the seed money would facilitate entrepreneurs in bringing their research into the marketplace.nging their research into the marketplace.
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