Pharma & Biotech
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Montgomery County Makes List of Top 10 Biopharma Clusters Nationwide
The Philadelphia suburbs, namely Montgomery County, has once again found a place among the nation’s top markets for biopharma activity, ranking seventh on Genetic Engineering & Biotechnology News’ top ten list of biopharma clusters, writes John George for the Philadelphia Business Journal. The report measures cities and regions in the United States on four main…
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RACP Approves Multimillion-Dollar Grant for Thomas Jefferson University to Expand Its Lower Gwynedd Training Facility
Thomas Jefferson University’s Jefferson Institute for Bioprocessing has been awarded $2 million through the state’s Redevelopment Assistance Capital Program to expand its Lower Gwynedd training and education facility, according to a staff report from the Jefferson. The December award was announced by State Sen. Maria Collett. This was matched and then exceeded by the university’s…
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Merck’s West Point Factory Will Help Produce Johnson & Johnson’s COVID-19 Vaccine
Merck’s factory in West Point will help produce Johnson & Johnson’s COVID-19 vaccine, writes Harold Brubaker for The Philadelphia Inquirer. The Montgomery County plant, which is also Merck’s largest pharmaceutical plant, will mix the key drug component of the vaccine with other ingredients and fill vials with the finished product. At the earliest, the work…
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Drexel University Considering Moving Its Medical Labs to GSK’s Former Pharmaceutical Plant in Upper Merion
Drexel University is considering moving its medical labs from the former Hahnemann University Hospital campus in Philadelphia to GlaxoSmithKline’s former pharmaceutical plant in Upper Merion, writes Jacob Adelman for The Philadelphia Inquirer. The university would lease around 300,000 square feet at the Montgomery County site to consolidate its medical researchers that are currently spread between…
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Australian Medical Cannabis Company Relocates Headquarters, Leadership to Plymouth Meeting
As part of its plan to consolidate its operations, Zelira Therapeutics, an Australian medical cannabis company, has relocated its headquarters and leadership to Plymouth Meeting, writes John George for the Philadelphia Business Journal. Dr. Oludare Odumosu, the company’s new global managing director and CEO, will be based at their new 4,000-square-foot offices in Montgomery County.…
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Merck Bumps its Offer from Original $65M to $1.85B to Acquire Pandion Therapeutics
Merck, the pharmaceutical giant with around 10,000 employees in Montgomery County, has acquired Pandion Therapeutics for $1.85 billion, writes Ben Adams for Fierce Biotech. Merck first showed interest in the biotechnology company in 2018 and made an offer in January 2020. However, the company firmly said no to $65 million upfront along with nearly half…
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King of Prussia-based Neuma Helps Pharmaceutical and Medtech Companies Set Up for Success
King of Prussia-based Neuma helps pharmaceutical and medtech companies set up for success as they introduce their products to market, writes Laura Brzyski for Philadelphia Magazine. The company was launched in July 2017 by engineers Nick Ciccarelli, Alexis Dechelette, and Shaun Devitt. The trio had previously worked for Unilife. But after the company filed for…
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AmerisourceBergen Says Hello To New Conshohocken Headquarters at Sora West
AmerisourceBergen, Pennsylvania’s highest-ranked Fortune 500 company, is preparing to move from Chesterbrook to its new headquarters in Conshohocken this summer when the office component of the Sora West mixed-use development is completed, writes Natalie Kostelni for the Philadelphia Business Journal. The pharmaceutical distribution giant is already making some adjustments to the new space due to…
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Local Medtech Company Aims to Offer Better Surgical Reconstruction Solutions
Nearby Chester County Malvern-based TELA Bio is a commercial-stage medical technology company working to improve surgical reconstruction solutions, writes Laura Brzyski for Philadelphia magazine. The company was founded in 2012 by its current president and CEO Antony Koblish and CMO Maarten Persenaire. It designs and markets soft-tissue reinforcement materials to improve existing biologics as and…
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After Leading Trump’s Operation Warp Speed, Gladwyne’s Moncef M. Slaoui is Back in the Biotech Business
After wrapping up his seven-month public service role as a top scientist at Operation Warp Speed – the effort by former President Donald Trump to rush coronavirus vaccines to market – Gladwyne’s Moncef M. Slaoui is back in the profitable end of the biotech business, writes Joseph N. DiStefano for The Philadelphia Inquirer. The former…
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Philadelphia Recognized as One of Nation’s Top Markets for Life Sciences
Commercial real estate advisory firm Newmark has recognized Philadelphia as one of the top life sciences real estate markets in its 2020 year-end report, writes Laura Brzyski for Philadelphia Magazine. The city of brotherly love and sisterly affection landed in sixth place on the list of 14 centers for innovation and growth. Philadelphia is preceded…
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Bala Cynwyd Genomics and Artificial Intelligence Company Raises $2M in Private Stock Sale
Panorama Medicine, a Bala Cynwyd genomics and artificial intelligence company, has raised $2 million in an equity financing deal, writes John George for the Philadelphia Business Journal. The company was founded three years ago by CEO Mingfu Zhu, Yi Xing, and Douglas Black. Prior to the founding of Panorama, Zhu was an executive with two…
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Why the CEO of a Jenkintown-based Medical Marijuana Company is Opening Her Own Dispensary in West Virginia
Chris Visco, the co-founder and CEO of Jenkintown-based TerraVida Holistic Centers, is striking out on her own and opening a dispensary in West Virginia, writes John George for the Philadelphia Business Journal. Visco, who runs Pennsylvania’s largest woman-owned medical cannabis company, will be the sole owner of the West Virginia Kindness dispensary. She chose West…
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Upper Gwynedd-based Merck CEO Retiring
Kenneth C. Frazier, a North Philadelphia native, is retiring from his position as Merck CEO effective June 30, writes John George for the Philadelphia Business Journal. Frazier has led Merck for the last ten years. During that time, Merck stock has more than doubled in value. He will continue to serve on the company’s board…
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Pennsylvania to Receive Millions From McKinsey Opioid Settlement
Consulting giant McKinsey & Company has entered into a $573 million settlement over allegations it provided advice that helped opioid manufacturer Purdue Pharma boost sales while fending off oversight during a national drug epidemic, writes Catherine Dunn for The Philadelphia Inquirer. The settlement was reached with 47 state attorneys general, including Pennsylvania A.G. Josh Shapiro.…
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Merck Joins IBM, American Express in Coalition to Hire 1 Million Black Workers In 10 Years
Merck, the pharmaceutical giant with significant operations in Montgomery County, has joined a coalition pledging $100 million to hire one million Black workers in the next decade, writes Jeff Green for Bloomberg. The OneTen initiative is co-chaired by Merck Chief Executive Officer Ken Frazier and IBM Executive Chairman Ginni Rometty. It will focus on hiring…
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Blue Bell-based Pinnacle 21 Seeing Business Boom Due to Demand for New Drugs, Vaccines
Blue Bell-based Pinnacle 21 is seeing demand for its services grow as companies rush to get new drugs and vaccines on the market due to the pandemic, writes Abby Lee Mosconi for the Technical.ly. The company’s clinical data standardization platform streamlines the drug approval process and clears a more efficient path for getting life-saving drugs…
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Pandemic Did Not Slow Center of Breakthrough Medicines in King of Prussia’s Discovery Labs
Despite the pandemic, development of the Center for Breakthrough Medicines in King of Prussia’s Discovery Labs innovation hub is still on track to be finalized and occupied by the end of next year, writes Queen Muse for the Philadelphia Magazine. Developer Brian O’Neill and biotech executive Audrey Greenberg have joined forces with health-care investment firm…
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