Eli Lilly (LLY) will open one of its Lilly Gateway Labs, an incubator for emergeing biotech companies, in Philadelphia.
The site will take up 44,000 square feet in Center City. Companies at the facility will have access to wet lab facilities.
Lilly Gateway Labs already operates in other US locales known for biotech innovation: Boston, South San Francisco, and San Diego. It also has locations in Beijing and Shanghai.
The pharma noted that since the first Gateway Lab opened in December 2019, companies operating in them have raised more than $3B in capital with more than 50 medicines in development.
