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April 04, 2005

New York emerges as a biotech powerhouse

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Posted by Dominic Basulto

According to the chairman of the New York Biotechnology Association, “New York is no longer becoming a great place for biotechnology, we already are [a great place]." New York State is now home to 123 biotech companies, including 40 companies in New York City and 24 companies on Long Island. Bio-IT World also notes that New York-based biotech companies raised more than $100 million in VC financing last year and received 11 National Institutes of Health (NIH) grants in 2004.

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