$125M for life sciences through budget agreement gets Shapiro's nod
The program will support startups, clinical trials and underrepresented founders as Pennsylvania seeks to keep more life-sciences companies in state.
- On Tuesday, Governor Josh Shapiro visited B+labs in Philadelphia to highlight $125 million in new state budget funding for 'Innovate in PA 2.0,' designed to accelerate biotechnology startups and clinical trial networks.
- This investment builds on the 2013 Innovate in PA initiative, which offered $100 million in seed funding. State Rep. Tim Briggs, Life Sciences Caucus chair, noted that minimal support existed for the industry until this budget.
- Chris Molineaux, CEO of Life Sciences Pennsylvania, called the funding a "true differentiator" for the state. Pennsylvania's sector employs more than 100,000 people across over 3,000 companies and research institutions.
- The Department of Community & Economic Development will manage the application process and distribute funding in coming weeks. The program addresses capital and infrastructure bottlenecks for early-stage biotechnology companies.
- These initiatives face their first real tests within 18-24 months, revealing whether startups can productively absorb the capital. Shapiro aims to maintain Pennsylvania's competitive edge against states like North Carolina and Texas.
13 Articles
13 Articles
PA Gov Shapiro touts life sciences investments as he gets $125M more in budget
During a visit to Philadelphia on Tuesday, Gov. Josh Shapiro touted investments made by his administration into the life sciences sector through the latest state budget. “I think you can feel the momentum building all across our Commonwealth in the life sciences space,” Shapiro said. “That momentum is real.” The $50.8 billion state budget Shapiro...
State and Academic Funding Push Life Sciences From Lab to Market
Pennsylvania has committed $125 million in new state budget funding to accelerate biotechnology startups and clinical trial networks, signaling a broader shift toward converting academic research into commercial ventures. Governor Josh Shapiro announced the Innovate PA 2.0 fund in Philadelphia this week, positioning the state to compete for talent and investment as major pharmaceutical companies including Eli Lilly, Johnson & Johnson, and GSK de…
PA Gov Shapiro touts life science investments as he gets $125M more through budget agreement
Over the past five years, according to the Shapiro administration, researchers and companies in the state have secured more than 10,700 new life science patents, which is the fourth-highest total in the country.
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