Pharma & Biotech
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Greenbacks from Pa. Yield Expansion, Jobs for Irish Pharma Firm in Souderton
Pa. Gov. Tom Wolf announced last week that Almac Group — a Northern Ireland pharmaceutical manufacturer with U.S. headquarters in Souderton — is using state grants to deepen its domestic presence. $93.5 million in state-provided capital will, over the next three years, enable the firm to create 355 more jobs and increase its Montgomery County…
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Center for Breakthrough Medicines Partnering with Discovery Labs to Build Cell Therapy Manufacturing Capacity at Its King of Prussia Headquarters
Center for Breakthrough Medicines is partnering with Discovery Labs to speed up its plans to build the capacity to manufacture a substantial number of cell therapy products at its King of Prussia headquarters, writes Tyler Patchen for Endpoints News. The planning, which was previously slated for 2025, has started on the manufacturing suites and the…
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Hatfield Biotechnology Startup Raises $75M to Develop Genetic Medicines
Recently Hatfield-based Code Biotherapeutics raised $75 million to develop genetic medicines that are based on technology aimed at increasing the applicability of these types of treatments, writes Brian Gormley for The Wall Street Journal. The biotechnology startup delivers genetic medicines into cells using a proprietary technology it applies to its own therapeutics and those it…
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Conshohocken-based AmerisourceBergen Outlines Strategic Partnerships, Investments in Innovation During Investor Day
Conshohocken-based AmerisourceBergen took the opportunity during its annual investor day in New York on June 1 to outline five strategic imperatives for the company’s long-term sustainable growth, writes John George for the Philadelphia Business Journal. In the future, the company plans to lead with market leaders, which it will achieve by fortifying long-term, strategic partnerships…
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Plymouth Meeting-based Inovio Replaces CEO, Switches Focus from COVID-19 Vaccine to Developing Booster
Plymouth Meeting-based Inovio has replaced co-founder J. Joseph Kim as CEO and announced that it will shift its focus from developing a COVID-19 vaccine to developing a booster, writes John George for the Philadelphia Business Journal. Kim oversaw the company’s failed attempts to secure approval for its vaccine candidate. He has served as CEO since…
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Life Sciences Company Acquires Norristown Facility, Plans to Establish Headquarters at 10,000-Square-Foot Space
Life sciences company Aviridi has acquired a facility in Norristown and is planning to make the 10,000-square-foot space at 48 E. Main Street its headquarters, writes Jeff Ward for WFMZ 69 News. Aviridi will use the building to develop products using synthetic biology and precision fermentation. The company believes it can use the process of…
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California-Based Biotech Company Opening Temporary Base in King of Prussia, Exploring Montco for Future Sites
California biotech company Exelixis is opening a temporary base in King of Prussia in June as it explores sites in the King of Prussia, Conshohocken, and Plymouth Meeting areas for a future built-to suit expansion, writes Natalie Kostelni for the Philadelphia Business Journal. The company’s temporary 23,000-square-foot space at 640 Freedom Business Center Drive will…
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King of Prussia Biotech Manufacturer Enters Partnership With London-based Cell Therapy Powerhouse
The Center for Breakthrough Medicines (CBM) has announced a multi-year deal with Achilles Therapeutics in the UK, reports John George for the Philadelphia Business Journal. The partnership will provide expanded cell therapy manufacturing capabilities required to supply products for biopharmaceutical company Achilles’ ongoing Phase I/IIa clinical trials in advanced non-small cell lung cancer and metastatic…
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Here’s How Much Montco’s GlaxoSmithKline Is Paying to Acquire a Biotech Company in California
GlaxoSmithKline, with significant operations in Upper Providence, has agreed to acquire California-based Sierra Oncology for $1.9 billion, writes John George for the Philadelphia Business Journal. GlaxoSmithKline will pay the shareholders of the biotechnology company $55 for each share of stock they hold, according to the terms of the deal. This price represents a 39 percent…
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Conshy-Based AmerisourceBergen Establishes a $150 Million Fund to Assist ‘Bold Ideas’ in Health Care
Conshohocken-based AmerisourceBergen Establishes a $150M fund to partner with emerging health companies looking to transform health care, writes John George for the Philadelphia Business Journal. The new fund, called AB Health Ventures, will invest in partnerships with companies that have a healthcare focus on people and animals. The new fund will operate as a “wholly-owned…
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Plymouth Meeting-based Geneos Therapeutics, Inovio Spin Off, Raises $17M in Private Stock Sale
Inovio Pharmaceuticals spinoff Geneos Therapeutics, a Plymouth Meeting clinical stage biotherapeutics company, has raised $17 million in a private stock sale to expand its cancer treatment study, writes John George for the Philadelphia Business Journal. The Series A2 financing was led by European venture capital firm Flerie Invest. The firm specializes in backing life sciences…
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King of Prussia-based Wearable Health Solutions to Launch New Product, iHelp Max, in June 2022
Wearable Health Solutions Inc, a manufacturer of proprietary personal medical alarm and home security devices for seniors and employees that work alone, is launching a new product this June, the iHelp Max, reports Yahoo! News. Wearable Health Solutions worked with R&D medical product firm, MIDI Product Development Corporation to develop a biometric sensor to permit…
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King of Prussia-based FinPay Closes $15M Capital Raise, Plans to Use Funds to Once Again Double Revenue
FinPay Holdings, the King of Prussia fintech, has closed its $15 million capital raise and is planning to use the funds to double revenue once again this year, writes Jeff Blumenthal for the Philadelphia Business Journal. FinPay offers specialized medical providers patient engagement and financial management software. The financing round was led by PeakSpan Capital,…
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Plymouth Meeting Company Places Among Forbes’ America’s Best Startup Employers
Plymouth Meeting-based Braeburn has found its way onto a new Forbes list ranking the 500 best startup employers in America, writes Ryan Mulligan for The Business Journals. America’s Best Startup Employers ranks new businesses by their reputation as employers. Forbes worked with Statista to analyze blog posts, articles, and social media posts in order to…
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“Butt First”—Local Pharma Campaign for Cellulite Treatment Chooses Unique Marketing Moniker
Endo International, with U.S. headquarters in Malvern, has decided on a unique tagline for its latest marketing program for cellulite treatment Qwo: “Butt First,” writes John George for the Philadelphia Business Journal. The Butt First campaign will consist of over 200 patient events throughout the country that will aim to “excite and educate” women about…
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Plymouth Meeting-based Inovio Hopes New Strategy Will Lead to Regulatory Approval for Its COVID-19 Vaccine
Plymouth Meeting-based Inovio is adopting a new strategy in the hopes of gaining regulatory approval for its COVID-19 vaccine candidate, INO-4800, writes John George for the Philadelphia Business Journal. The biotechnology company plans to modify the primary endpoint — the main result that is measured at the end of a study to determine if a…
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Forbes Magazine Ranks King of Prussia Global Biotech Leader Among America’s Best Employers for 2022
The annual rankings from Forbes and Statista, the world-leading statistics portal and industry ranking provider, are based on an independent survey of approximately 60,000 U.S. employees. CSL’s robust U.S. presence includes the operational headquarters of CSL Behring in King of Prussia, Pennsylvania, two world-class manufacturing facilities in Kankakee, Illinois, and Holly Springs, North Carolina, and…
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Hatfield-based Code Biotherapeutics Enters Collaboration Deal with Takeda Potentially Worth $2B
Hatfield-based Code Biotherapeutics has entered into a collaboration and option deal with Takeda with a potential value of $2 billion, writes John George for The Business Journals. Under the terms of the agreement, Takeda will leverage the biotechnology company’s proprietary targeted 3DNA non-viral genetic medicine delivery platform in order to design and develop gene therapies…
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