The Year In New York Biotech—Still Trying to Make It Here

12/28/12Follow @cathyarnst

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Francisco, striking a drug development agreement that could be worth as much as $500 million with Sutro Biopharma.

 

So where does 2012 leave New York’s world of biotech? Clearly, health IT is gaining ground here, which makes sense since New York is already a hotbed of tech startups, and the many top-flight hospitals in the region provides a large pool of potential early adopters. Unlike the Boston area, however, the region’s biopharma giants do not seem to be playing a role in developing a critical mass of startups within walking, or even driving, distance, which scientists and their benefactors can wander between.

It will be interesting to see where Pfizer and the like decide to do deals next year—maybe Celgene will decide it’s racked up enough frequent flyer miles and cast an eye on its neighbors. Longer term, Roche’s decision to do translational research in New York City at least brings commercial drug development to the heart of the city, and maybe some scientists with an idea might start congregating in nearby diners. I’m looking forward to watching it all unfold. Now let’s have Alicia take us out with this thought:

New York, concrete jungle where dreams are made of

There’s nothin’ you can’t do

Now you’re in New York

These streets will make you feel brand new

Big lights will inspire you

Let’s hear it for New York, New York, New York

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  • realposter

    Good coverage.

    I have 2 theories – which may or may not be correct. 1) The big pharma companies exist in the NYC metro area are in some cases 100 year old institutions – so they suck up most of the talent that is in the area. 2) the top notch research institutes are more interested in earning licensing revenues than foster entrepreneurship…(I don’t mean that in a negative way).

    Boston and San Francisco are expensive too… so that can’t be the main reason.