Even just one year ago, a conversation about biotech and New York would have been very different than it was in mid-May at the NewYorkBIO annual meeting in Manhattan. It’s a testament to how rapid the landscape and culture across the whole state of New York is changing when it comes to the industry.
And, although it may seem like the shift has taken place over night, the groundwork to make New York a biotech hotspot similar to the likes of California and Massachusetts, has been happening behind the scenes for about five years.
As Joel Marcus, executive chairman, of Alexandria Real Estate Equities, explained it can take upwards of 10 years to build the infrastructure needed for a healthy and sustainable life sciences industry. When it comes to infrastructure, biotechs need more than just space or laboratories. They need the intellectual and financial infrastructure, as well.
Christina P. Orsi, associate vice president for economic development at the University of Buffalo, said there has always been, and continues to be, a lot of great academic research happening across New York state, but the problem used to lie in transitioning that from the laboratory to commercialization.
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