Mar 15, 2006
In a speech last spring, Frank Baldino, Jr., Ph.D., Chairman and CEO, Cepahlon said, "Imagine the wisdom of a state government, a governor, who utilized $100 million of the tobacco settlement to create three Greenhouses across the state to focus on developing life science enterprises. Most governors of other states used the tobacco settlement to balance their budget, or to pave their roads. Our governor had a more enduring purpose in mind – one that would transform the economic direction of the state."
Recent articles in the Philadelphia Business Journal indicate that in addition to housing offices for over 75% of the established Life Sciences companies, Philadelphia is becoming a center for nurturing entrepreneurs in the Life Sciences.
On February 10, 2006 they wrote that the "Science Center" in University City is embarking on a major $600 million development plan that would add 1.85 million square feet of space and more than double the amount of space it currently maintains. The ambitious plan aims to firmly establish the Science Center as a premier urban research park on the East Coast that can accommodate and cater to fledgling biotechnology, high-tech and other early-stage companies and give them a place to grow into thriving businesses."
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