The campus is the first of a series of LifeSci NYC infrastructure and programming investments to cultivate the life sciences industry in the five boroughs
Campus to house approximately 1,400 jobs and cutting-edge R&D of life saving cures to treat diseases and chronic conditions
New York, NY -- New York City Economic Development Corporation (NYCEDC) and Deerfield Management, a New York City-based healthcare investment firm, announced a new partnership to redevelop a 12-story building located at 345 Park Avenue South into a life sciences campus as part of LifeSci NYC, a $500 million commitment to establishing New York City as a global leader in the life sciences. The campus will provide life sciences space to support healthcare and biotech start-ups and growing companies that work on cutting-edge R&D to treat diseases and chronic conditions. Programming for emerging healthcare and life sciences companies will be operated by Deerfield in partnership with MATTER, a Chicago-based nonprofit healthcare incubator. The campus will create approximately 1,400 quality jobs and is expected to open in early 2021.
The campus will offer life sciences start-ups and high growth companies access to laboratory space and critical resources to grow, providing a single location for entrepreneurs to take concepts and turn them into treatments for diseases like cancer, Alzheimer's, diabetes, among others. The life sciences campus will include approximately 300,000 square-feet of life sciences space, of which more than 200,000 square-feet will be wet lab capable. MATTER will provide resources and programming to accelerate startup development and foster collaboration between entrepreneurs and industry-leading organizations, including corporate innovation groups, patient groups, and market leaders.
In addition, Deerfield Management will commit up to $30M to fund programming in partnership with NYCEDC to ready New Yorkers for careers in life sciences. These efforts will focus on workforce development, diversity, and inclusion and will support nearly 5,000 New Yorkers in the burgeoning life sciences ecosystem. Initial programmatic offerings will expand NYCEDC's LifeSci NYC Internship program and Deerfield's existing CUNY Fellows, Break into the Boardroom, and Women in Science initiatives.