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Wall Street Journal Features Fund’s New Report on Life Sciences

The following article appeared on the Wall Street Journal’s Venture Capital Pro platform:

Gormley’s Take: To Build a Biotech Hub, New York Needs to Find Talent
By Brian Gormley – June 22, 2016

New York has been creating lab space for startups in a bid to capture more biotech venture capital and emerge as a top life-sciences hub. Now it has to give biotech VCs more of what they need most: entrepreneurial talent.

Home to top drug companies and medical-research centers, New York would seem a natural breeding ground for biotech. Yet it lags behind cities in California and Massachusetts in attracting the venture dollars.

In fiscal year 2015, the state generated 6 cents in life-sciences venture financing for each dollar received in National Institutes of Health grants, according to a new report from the Partnership Fund for New York City, which invests in startups. By contrast Massachusetts and California generated $1.32 and $1.27, respectively.

Follow this link to read the full story.

Read the Fund’s report here.