The life sciences real estate market in Philadelphia is coming into its own just as its cell and gene therapy industries stare down their first economic cycle with high inflation and spiking federal interest rates.
Despite the success of Spark Therapeutics, the vast majority of cell and gene therapy candidates remain in early stages of testing, with relatively few in clinical trials and only a handful commercially available. So much of the public and private sector in the area is focused on sustaining the growth of the past few years, but both are being called on to shepherd startups through the “valley of death,” or the period between early stage trials and commercialization when funding is hardest to come by and most desperately needed.
Image: Bisnow/Virginia Baker Mosaic Development Partners founder and co-owner Greg Reaves and Brandywine Realty Trust Senior Managing Director Jeff DeVuono at Bisnow's Philly Life Sciences Summit event at Budd Bioworks on June 28, 2022
