New York Stem Cell Foundation doubling its footprint in Manhattan
- The New York Stem Cell Foundation signed a lease for a new space in Manhattan, doubling its current footprint. Until now, the foundation had been located in two separate buildings.
- The new space is located on West 54th Street. It will include a lab, offices, and common areas. Importantly, the space will accommodate robotic technology, which the Foundation uses in its stem-cell R&D process.
- The New York Stem Cell Foundation is a 10-year-old non-profit run by Susan Solomon.
Manhattan is fast becoming a hub for biosciences-related activity and innovation.
It is not a coincidence that the New York Stem Cell Foundation looked to stay in New York city as it expands. In fact, it is emblematic of a larger effort by NYC to develop its biotech industry. In March, NYC announced $150 million in funding for life-sciences companies, in addition to plans to redevelop a city-owned building on First Avenue and 26th Street as a bioscience research center.
Last month, Lilly announced plans to create an immuno-oncology focused hub and to build out its presence at its current location overlooking the East River, the Alexandria Center for Life Science. At the Center, Lilly’s NYC-based scientists have been focusing on the antibody research related to the 2008 acquisition of ImClone.
New York City is also currently home to Pfizer, although some offices will eventually move to Dublin after the merger with Allergan is finalized.