With its latest round of investments in nine startups, the Pittsburgh Life Sciences Greenhouse (PLSG), has surpassed $13 million in committed investments.
The nine new company investments include; Biomed Research & Technologies, Inc., Blacktown NC LLC, Caliber InfoSolutions, Inc., Chronic Health Metrics, Circadiance LLC, Complexa, LLC, Flexicath Ltd., NeuroInterventional Therapeutics, Inc. and Wright Therapy Products. Learn more about the companies here.
The PLSG’s $13.2 million in direct investments in nearly 60 companies has attracted more than $400 million in additional capital for the region. The PLSG continues to propel the growth of western Pennsylvania’s life sciences economy by enabling the commercialization of promising life sciences technologies through its Investment and Executive Programs.
According to the PLSG, it has:
- invested $13.2 million directly into 57 companies to help leverage over $400 million in additional capital.
- assisted 283 clients/companies through its Executive-in-Residence program.
- invested $15.2 million in venture capital funds to help leverage an additional $110 million in total funding.
- provided 27 early stage companies and venture capital and life sciences organizations with office and laboratory space in our incubator.
- assisted 13 life sciences companies with relocating to our region and is working with other companies who would like to establish operations in southwestern Pennsylvania.
- leveraged $2.4 million in federal grant money to help provide core and customized life sciences specific workforce training to over 6,000 trainees since September, 2005.
-helped create 5,000 jobs directly/indirectly including university faculty and facilities. (400 jobs created in invested companies and 1,200+ jobs in PLSG active companies/clients)
The PLSG’s SBIR Advance program has assisted nearly 100 companies with their federal grant strategies. To date, these companies have received over $14 million in federal grant funding. 28 executives have participated in the PLSG EIR program: seven are currently active at PLSG and 17 former EIRs remain in the region. The regional life sciences company formation rate has increased from 2-3 per year to 15-20 new companies per year.
Whew! Keep up the great work.
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