Developing an Ecosystem: How Philadelphia attracts and retains biotech and life science companies

Philadelphia has become known for its “Meds and Eds”- the world class healthcare and education institutions that call the area home. 100+ colleges and universities are located within 50 miles of the city, 80% of all pharmaceutical and biotech companies in the U.S. have offices in greater Philadelphia, and more than 2,000 medical technology companies are located here. (discoverphl.com) All of the big medical device manufacturers that we see and hear about through our work for started small. What are some of the keys to why they grew? How did the Philly area become an attractive place to establish a life science company? How can the area maintain that competitive advantage? In this online presentation, the Director of Life Science and Biotechnology for the City of Philadelphia Department of Commerce will review the Life Sciences industry overall and highlight the steps that the City is taking to support the Life Sciences in Philadelphia.

Learning Objectives:

• Assess the Life Science industry in Philadelphia including the institutions supporting the industry and the geography of established and future campuses
• Review the larger Life Science industry including company life span and venture capital funding requirements
• Discuss the future of the Life Science industry in Philadelphia

Sam Woods Thomas is the Director of Life Science and Biotechnology for the City of Philadelphia Department of Commerce. In this role, he is responsible for the attraction, retention, and growth of Philadelphia Life Sciences Companies. He also oversees strategic initiatives in the Life Sciences. Sam has worked for the Department of Commerce since 2017. Prior to joining the Commerce team, Sam worked for the New Kensington Community Development Corporation where he oversaw economic development strategies in the Philadelphia neighborhoods of Kensington, Fishtown, and Port Richmond. Prior to moving to Philly, Sam lived in and worked in his hometown, Pittsburgh. He attended the University of Pittsburgh and received his degree in Urban Studies and Public Policy