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The Year In New York Biotech—Still Trying to Make It Here

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Therapeutics, based in Bedford, MA. That’s three for three for the Boston area. In October 2011 Celgene added $20 million to a partnership with Agios Pharmaceutical, in Cambridge, MA, to which it had already committed $130 million, and in December 2011 Celgene participated in a $30 million funding of Acceleron, also in Cambridge. OK, so not the greatest vote of confidence in New York.


KeyView Partners, a new growth equity firm, announced that was opening its doors in New York to fund medical technology startups. No word yet on any deals. Celgene, meanwhile, made a $15 million equity investment in Acetylon—based in Boston. Oh well, moving on.


MolecularHealth is Swiss, but in March the eight-year-old firm set up a commercial hub in New York to go after the U.S. market for its two software platforms designed to translate massive amounts of genomic data into better treatment plans for patients. It’s one of a wave of health IT companies that are making New York their home.


Continuing the health IT trend, the New York eHealth Collaborative announced in April that it is creating a new incubator, called the New York Digital Health Accelerator, to make New York “a hub for the emerging digital health technology industry.” Meanwhile Celgene made yet another investment, this time $90 million upfront in Epizyme, based, where else, in Cambridge.


Little of note happened in the NY life sciences world in May, but Arlene did write about a new medical technology startup, MedXCom, in Bedminster, NJ, with a smartphone app that doctors can use to talk to patients about their health problems without violating federal … Next Page »

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One response to “The Year In New York Biotech—Still Trying to Make It Here”

  1. realposter says:

    Good coverage.

    I have 2 theories – which may or may not be correct. 1) The big pharma companies exist in the NYC metro area are in some cases 100 year old institutions – so they suck up most of the talent that is in the area. 2) the top notch research institutes are more interested in earning licensing revenues than foster entrepreneurship…(I don’t mean that in a negative way).

    Boston and San Francisco are expensive too… so that can’t be the main reason.