In Colliers Life Sciences' newest report for the Philadelphia market, exciting dynamics are aligning that together have the ability to push Philadelphia ahead from a top tier market to an elite U.S. biocluster. The four primary factors that are driving change cover the entire gamut of the discovery ecosystem and include:
- The explosive growth of incubator and accelerator capacity that will support growth in our ecosystem
- The success of lab conversions that are absorbing pent up demand
- The delivery of new purpose-built lab buildings over the next 15 months and a healthy pipeline totaling 2 MSF within the next 40 months
- The new availability of cGMP manufacturing space, growing from virtually zero to 1MSF at present with additional substantial projects planned for the future. This provides critical resources for the commercialization of discoveries developed in Philadelphia.
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