The CEO Council for Growth sought an evaluation of the current state and growth potential of the cell and gene therapy (CGT) sector in the Greater Philadelphia region. Through comprehensive and comparative analyses, ESI identified the region’s assets, as well as areas for improvement to increase its competitive advantage. In its report, ESI provided actionable insights to support strategic planning and investment to expand the Greater Philadelphia CGT hub.
Gaining insights into the position held by the Philadelphia CGT ecosystem necessitated a comparative analysis of CGT hubs in other major U.S. regions. ESI focused on five key categories: Research Infrastructure, Human Capital, Innovation Output, Commercial Activity, and Value Proposition. To complete the assessment, key methodologies included:
- Collection and analysis of data on National Institutes of Health (NIH) funding, patents, clinical trials, venture capital, and real estate investments from various sources such as NIH, U.S. Patent and Trademark Office, and real estate brokers active in the region.
- Comparative benchmarking to gauge Greater Philadelphia against 13 peer U.S. regions based on key metrics to assess its competitive position in the CGT sector.
- Stakeholder Interviews with government officials from the Greater Philadelphia region; representatives from local universities, research institutions, and hospitals; and industry leaders from CGT companies, and venture capital firms to gain qualitative insights and validate quantitative findings.
The study revealed that Greater Philadelphia ranked 2nd overall among leading U.S. CGT hubs, having strengths in NIH funding, talent retention, and venture capital investment; and has significant growth in CGT patents awarded and clinical trials conducted. ESI’s research and analysis found $4.2 billion in venture capital investment, 302 CGT patents, and 130 clinical trials since 2012, showcasing Greater Philadelphia’s robust life science innovation ecosystem.
As Greater Philadelphia’s proponent of regional growth, the CEO Council for Growth gained demonstrable evidence to support their strategic initiatives to attract more CGT companies, advocate for enhanced research infrastructure, while continuing to promote the region as a leading CGT hub. ESI’s report the CEO Council for Growth encourages further collaboration with regional CGT stakeholders and provides recommendations to support continuous investment in research infrastructure, talent development, and strategic marketing to maintain and enhance Greater Philadelphia’s competitive edge in the U.S. CGT sector.