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The regional life sciences sector is booming with an ambitious goal to be a top 3 cluster by 2023

  • ​​Click to view the National Life Science Report​
  • BioHealth Capital Region, a new organization formed to grow the life science sector regionally, has stated that one of their most ambitious initiatives is to make the region a top-three life sciences cluster nationally by 2023.
  • An abundance of strong educational institutions, combined with federal agencies including the NIH and FDA, drove growth historically within the Suburban Maryland life sciences market. However, from 2004-2013, the sector stagnated as a string of homegrown companies were acquired by larger life science companies from outside the region, largely putting the brakes on the sector’s expansion for a decade.
  • Investments from established life sciences players in the region are helping drive growth today, including GSK’s new global vaccines R&D center in Rockville. This major deal has already had great effects on the area’s life science landscape, such as developing partnerships between companies or launching new start-ups. For example, GSK already has a relationship with Avalon Ventures, a San-Diego based venture capital firm, which started three new biotech startups in 2015 as part of the partnership with GSK. ​

Source: JLL Research

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