The one-year grant aims to accelerate life sciences discoveries by young companies, but also support the economic development of the region through new programming.
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Pennsylvania Biotechnology Center (PABC) Announces $5 Million Investment from Bucks County Employees Retirement Board
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DOYLESTOWN, Pa., May 5, 2021 /PRNewswire/ The nonprofit Pennsylvania Biotechnology Center (PABC), one of the nation s most successful life sciences incubators, today announced a major pledge by a local government agency to invest in the Hatch Biofund.
The Bucks County Employees Retirement Board will invest up to $5 million in the Hatch Biofund, which is intended to support PABC-member companies. The Hatch Biofund was created by the Baruch S. Blumberg Institute, which manages the PABC.
The $5 million investment in the PABC by the Bucks County Employees Retirement Board follows a $10 million commitment made in March by Daiichi Sankyo, one of the largest pharmaceutical companies in Japan with a U.S. headquarters in Basking Ridge, N.J. Also last month, Provco Group LLC of Villanova, Pa., agreed to invest $