Insights into Xconomy’s Exome New York’s Life Sciences Disruptors Event
Park IP Translations recently attended Xconomy’s Exome New York’s Life Science Disruptors event, held at the Alexandria Center for Life Sciences in New York. Park IP’s Director of Client Solutions for Life Sciences, Marta Motta, took part in the event. In this blog, Marta shares some of her insights into the discussions on how New York City is set to become a significant center for life sciences and bio technology (biotech) research and development.
For many years, influential figures and global organizations have questioned why New York does not have a strong presence in the life sciences and bio technology industry. In a survey by Bloomberg, published in September 2015, New York was ranked second in the list of Top Financial Centers in the world, having only recently been nudged off the top spot by London.
This life sciences event hosted by Xconomy Exome, a leading life sciences, health and biotech publisher and news portal, focused discussions on the fact the life sciences scene in New York has required more attention from biotech venture capitalists. It would appear that this is changing and New York is set to become a new hub for life sciences and biotech start-ups.
In North America, San Francisco, San Diego and Boston are the main US cities that have historically been more prominent in the biotech sector. Over the past year, New York’s recent biotech transformation has started to attract significant life science investors, enabling start-ups to be based in New York, even with very high real-estate prices.
In 2015, former New York City (NYC) Mayor, Michael Bloomberg, launched the Early-Stage Life Sciences Funding Initiative to raise money for biotech start-ups and create 15-20 break-through ventures by 2020. This initiative is designed to champion NYC’s early-stage life sciences projects and support the development of new technology and products for patients and researchers. Large life sciences corporations have invested money in the initiative and this has also attracted the attention of venture capitalist organizations to grow the New York bio tech community and enable NYC to become a significant destination where breakthrough clinical therapies are developed and cures for chronic diseases are found.
At the Xonomy Exome event, we saw an excellent presentation by Kallyope, a biotech research organization, who shared insights into their research work on the belief that the gut is a key clinical gateway for curing disease – the gut-brain axis. The Kallyope team will integrate cutting-edge technologies in sequencing, bioinformatics, neural imaging, cellular and molecular biology, and human genetics to provide an understanding of gut-brain biology. Kallyope is a relatively new venture, launched in December 2015 with Series A financing of $44 million and headquartered in NYC. This was a good example of a NYC-based break-through venture,
Growth in investment in the NYC area will attract lots of young entrepreneurs and philanthropists who want to develop and work with revolutionary drugs. This is all great news for the industry and many attendees at the event hope that the life sciences and biotech district in NYC becomes as important as the financial one.
Park IP Translations has its headquarters in New York and provides expert life science and legal language services with many organizations based in and around the New York area. The growth of the life sciences and biotech sector in New York will enable the Park IP translation and localization experts to help organizations communicate their work and research in multiple language markets, helping communities all over the world.
Based in London, Marta Motta is Director of Client Solutions for Life Sciences at Park IP Translations.