TLDR:
Venture capital investment in Philadelphia-area life sciences companies dropped by 33% in 2023 and has decreased by more than half since 2021. The decline is attributed to high interest rates and a lack of interest in initial public offerings. Despite the decrease in investment, companies still in need of laboratory space have an advantage as the supply of such space in the region continues to grow. Some notable venture capital successes in the Philadelphia region include Aro Biotherapeutics, Vivodyne, Interius BioTherapeutics, ViTToria Biotherapeutics, and Synnovation Therapeutics.
- Venture capital investment in Philadelphia-area life sciences companies fell by a third last year.
- The decline in investment is attributed to high interest rates and a lack of interest in initial public offerings.
- Companies still needing laboratory space have an edge over landlords due to the growing supply of such space in the region.
- Notable venture capital successes in the Philadelphia region include Aro Biotherapeutics, Vivodyne, Interius BioTherapeutics, ViTToria Biotherapeutics, and Synnovation Therapeutics.
