Biotech and pharmaceutical companies in the New York metropolitan area represent a significant and growing economic component of the New York metropolitan area, [1] [2] the most populous combined statistical area in the United States [3] and one of the most populous megacities in the world. [4] [5]
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, [6] and in January 2018, the City of New York itself committed up to US$100 million into the venture. [7]
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. [8]
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. [9] [10]
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.
The Takeda Pharmaceutical Company Limited is a Japanese multinational pharmaceutical company, with partial American and British roots. It is the third largest pharmaceutical company in Asia, behind Sinopharm and Shanghai Pharmaceuticals, and one of the top 20 largest pharmaceutical companies in the world by revenue. The company has over 49,578 employees worldwide and achieved US$19.299 billion in revenue during the 2018 fiscal year. The company is focused on oncology, rare diseases, neuroscience, gastroenterology, plasma-derived therapies and vaccines. Its headquarters is located in Chuo-ku, Osaka, and it has an office in Nihonbashi, Chuo, Tokyo. In January 2012, Fortune Magazine ranked the Takeda Oncology Company as one of the 100 best companies to work for in the United States. As of 2015, Christophe Weber was appointed as the CEO and president of Takeda.
F. Hoffmann-La Roche AG, commonly known as Roche, is a Swiss multinational healthcare company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics. Its holding company, Roche Holding AG, has shares listed on the SIX Swiss Exchange. The company headquarters are located in Basel. Roche is the fifth-largest pharmaceutical company in the world by revenue and the leading provider of cancer treatments globally.
Sanofi S.A. is a French multinational pharmaceutical and healthcare company headquartered in Paris, France. The corporation was established in 1973 and merged with Synthélabo in 1999 to form Sanofi-Synthélabo. In 2004, Sanofi-Synthélabo merged with Aventis and renamed to Sanofi-Aventis, which were each the product of several previous mergers. It changed its name back to Sanofi in May 2011. The company is a component of the Euro Stoxx 50 stock market index.
Celgene Corporation is a pharmaceutical company that makes cancer and immunology drugs. Its major product is Revlimid (lenalidomide), which is used in the treatment of multiple myeloma, and also in certain anemias. The company is incorporated in Delaware, headquartered in Summit, New Jersey, and a subsidiary of Bristol Myers Squibb (BMS).
C.H. Boehringer Sohn AG & Co. KG is the parent company of the Boehringer Ingelheim group, which was founded in 1885 by Albert Boehringer (1861–1939) in Ingelheim am Rhein, Germany. As of 2018, Boehringer Ingelheim is one of the world's largest pharmaceutical companies, and the largest private one. Headquartered in Ingelheim, it operates globally with 146 affiliates and more than 47,700 employees. Unlike most large pharmaceutical companies which are listed, the company is private and fully owned by the Boehringer, Liebrecht and von Baumbach families. The company's key areas of interest are: respiratory diseases, metabolism, immunology, oncology and diseases of the central nervous system. Boehringer Ingelheim is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA). The corporate logo of Boehringer Ingelheim depicts a stylized rendition of the central section of the imperial palace of Charlemagne.
Genome Valley is an Indian high-technology business district spread across 2,000-acre (8.1 km2)/(3.1 sq mi) in Hyderabad, India. It is located across the suburbs, Turakapally, Shamirpet, Medchal, Uppal, Patancheru, Jeedimetla, Gachibowli and Keesara. The Genome Valley has developed as a cluster for Biomedical research, training and manufacturing. Genome Valley is now into its Phase III, which is about 11 km from the Phase I and II with the total area approximately 2,000-acre (8.1 km2).
John Mendlein is a biotech executive who has held leadership positions in biotech companies in Boston, San Diego and Toronto.
Evotec SE is a publicly listed drug discovery and development company headquartered in Hamburg, Germany. The company operates globally, largely through external alliances with pharmaceutical and biotechnology companies, academic institutions, patient advocacy groups, and venture capitalists. As of 31 December 2021 Evotec had a market capitalization of €7.5 billion and a pipeline of more than 130 partnered programs in discovery, pre-clinical development and clinical development.
The Ohio bioscience sector strength was ranked #4 among USA states in 2008 by Business Facilities magazine.
Atlas Venture is an early-stage venture capital firm that creates and invests in biotechnology startup companies in the U.S. Atlas is headquartered in Cambridge, Massachusetts, where the majority of its investments are located. Atlas raised its thirteenth fund totaling $450 million in March 2022, after raising its Opportunity Fund II totaling $300 million in September 2021.
Arie S. Belldegrun, FACS, is an Israeli-American urologic oncologist, billionaire businessman and investor.
Two River Group Holdings is a New York-based venture capital firm and merchant bank focused on the life science sector. It specializes in investments in life science, biotechnology, and in firms focused on developing preventive and therapeutic technologies for a broad spectrum of disease areas including oncology, cardiovascular disease, neurological disorders, and companion animal health care.
David Grainger is a partner at medicxi, a European life sciences-oriented venture capital firm and chief executive officer of Methuselah Health Ltd., a drug development company doing proteomics research in the longevity space.
SOTIO Biotech is a Czech biotechnology company focused on clinical-stage research and development of innovative medicines for cancer with operations in Europe, North America, and Asia. The company has clinical programs which include a superagonist of the immuno-oncology target IL-15, a new generation of potent and stable antibody-drug conjugates (ADCs), proprietary technology designed to improve on the efficacy of CAR T therapies and a platform to streamline and enhance personalized cell therapies.
Ionis Pharmaceuticals, Inc. is a biotechnology company based in Carlsbad, California, that specializes in discovering and developing RNA-targeted therapeutics. The company has three commercially approved medicines: Spinraza (Nusinersen), Tegsedi (Inotersen), and Waylivra (Volanesorsen) and has four drugs in pivotal studies: tominersen for Huntington’s disease, tofersen for SOD1-ALS, AKCEA-APO(a)-LRx for cardiovascular disease, and AKCEA-TTR-LRx for all forms of TTR amyloidosis.
Hanmi Pharm Co., Ltd. is a South Korean pharmaceutical company that is headquartered in Seoul.
Greater Boston, primarily Boston and Cambridge, is home to more than 1,000 biotechnology companies, ranging from small start-ups to billion-dollar pharmaceutical companies. The many universities in the area give the region a large network of scientists.
John Maraganore is an American scientist, entrepreneur, and life sciences industry leader.
However, [NYC biotech is] considered second tier when held up against other cities.
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