new space during the summer of 2008. Occupancy for additional companies is expected in 2009.”
Commercial bioscience goes beyond R&D and into the manufacturing
process. With that in mind, Extell Development Co. last summer signed
a letter of intent to build a one million-sf tower at Eleventh Avenue and
West 34th Street, the former site of the Copacabana nightclub. The development will house the World Product Centre, a “technology marketplace” intended to bring medical device manufacturers together with the
practitioners who would use their products.
At WPC, the healthcare community will interact with
“Medallionaires,” manufacturers and distributors who have licensed
space to display and demonstrate their products at the facility. Medical
practitioners will be able to evaluate diagnostic tools and other medical
devices not only by operating the products but also by recreating actual
situations in which the products will be used, singly and in synergy with
other devices. This will be made feasible via a high-tech infrastructure
that is being designed and built by Hewlett-Packard.
“This is a tremendous opportunity for manufacturers to reach their
prime target exactly when they are the most receptive and focused on
sourcing and learning, all in a customized environment that is specifically designed for demonstration and education,” says Israel Green, president of WPC. Construction is slated to begin early next year and be completed by 2012.
At NYCEDC, which is involved with BioBAT as well as ERSP, Harcum
charts some of the factors that could help establish it as a national and
international biotech center. “The metro area has the largest bioscience
workforce in the country, according to a recent
BIO/Battelle study,” he says. “One hundred
twenty bioscience firms recognize the advantage of locating in New York City.”
Along with the concentration of major academic medical centers comes funding from the
National Institutes of Health—$1.3 billion
annually, Harcum says. And that’s just from the
federal government: life science companies in
New York City also have “access to Wall Street
and 125 healthcare venture capital firms.”
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They can also draw from 8. 2 million potential volunteers for studies. “With its incredibly
diverse population, New York City is the ideal
location for clinical trials,” Harcum says. “Over
50% of all oncology trials are conducted here.”
With this much going for New York City, it’s little wonder that the region was called “a slumbering giant” in a Life Science Clusters
magazine cover story last summer. Why then has this
giant stayed in dreamland for so long? Marcus
opines that the city’s potential has gone
untapped because “There has been no location
where clustering could take place and enhance
the technology transfer efforts,” as there is in the
Bay Area or Boston/Cambridge.
Closer to home, there’s the example of New
Jersey, which has managed to attract Merck and
