Despite oft-reported news of layoffs, the life sciences industry continues to have golden spots of expansions in terms of jobs, year-on-year revenue and in building new facilities and programs.
Pictured: View of sky and cityscape/Courtesy Getty Images, Nikolay Pandev
Layoffs may be frequenting headlines these days, but expansion in the life sciences soldiers on. The industry is growing, and in the month of May, several companies announced expansions and job creation.
Biotech Job Creations in May
For an update on portended expansions and details about the jobs they will create, continue reading.
New Haven
The current trajectory of the biotech sector in New Haven, Connecticut, promises continued growth and prosperity. The collaboration between academia, industry and local government has created a conducive ecosystem for scientific breakthroughs and job creation.
The transformation of the former New Haven Coliseum site exemplifies the mutually beneficial connection between the high-paying jobs generated by the biotech sector and the upscale apartment units that cater to the resulting employment expansion.
“Biotech space is beginning to loosen up,” said Anne Benowitz, vice president of economic development and workforce initiatives for the Greater New Haven Chamber of Commerce in a report by CT Insider. “Where we are out of space now is industrial space for warehousing and manufacturing.”
Public-private collaborations like the one between Yale faculty and ConnCAT aim to boost New Haven as a biotech hub. Biotechs Alexion Pharmaceuticals, CuraGen Corporation, Genaissance Pharmaceuticals and Neurogen Corporation all call New Haven home.
Silicon Valley
10x Genomics, a biotech company specializing in equipment, software and other products for cell analysis, recently unveiled a new office building in Pleasanton as part of its ongoing expansion plans, spanning 150,000 square feet.
“This new building will enable us to expand and scale the company. We see increased orders and demand for our products,” said Ben Hindson, chief scientific officer and co-founder of 10x Genomics, in a report by Silicon Valley.
The location of the new facility is in close proximity to the company’s existing headquarters in Pleasanton. Further, revenue for the company was reported at $134.3 million for the first quarter, representing a 17% increase over the corresponding period of 2022.
The products developed by 10x Genomics have focused on cell analysis in biology, including oncology, immunology and neuroscience.
Rochester, NY
The Crowley Center for Regenerative & Biotherapeutics, formerly known as AT Venture Center, is making strides to expand its operations in the Rochester area. The biotech company works to commercialize various technologies, including advancements in cancer treatments.
The decision to expand operations in the Rochester area underscores the company’s confidence in the local ecosystem and its potential for continued growth and innovation. As the company scales up its operations, it is expected to create new job opportunities and contribute to the region’s economic development, said Michael Crowley, the company’s chairman and CEO, according to a report published in the Rochester Business Journal.
The company has alliances, including associations with the Wilmot Cancer Center at the University of Rochester Medical Center and the College of Engineering at the Rochester Institute of Technology. These partnerships allow it to leverage the expertise and resources of academic institutions to drive innovation.
Lisa Munger is a senior editor at BioSpace. You can reach her at lisa.munger@biospace.com. Follow her on LinkedIn.
