New York City Economic Development Corporation Chooses Chicago-based MATTER to Bring Together New York Scientists, Entrepreneurs and Leading Companies to Advance Healthcare
CHICAGO--(BUSINESS WIRE)--MATTER, the healthcare incubator and innovation accelerator, has been selected to anchor New York City’s newest innovation center. MATTER will collaborate with the New York City Economic Development Corporation (NYCEDC) and Deerfield Management, a leading healthcare investment firm, to open MATTER within the new Deerfield life sciences campus.
MATTER will build on its proven blueprint to create a thriving healthcare and life sciences ecosystem in the New York region, home to one of the world’s greatest concentrations of healthcare and life sciences startups, large pharmaceutical and biotech companies, leading health systems and academic research centers. Responding to NYCEDC’s request for proposals, MATTER was selected based on its track record of success in Chicago. MATTER startups have collectively raised more than $1 billion in healthcare investment to fuel their growth and created more than 3,700 jobs. Their solutions are helping improve all aspects of healthcare, from streamlining business processes to developing new ways to address and treat disease.
“New York’s deep talent base and the commitment of NYCEDC and Deerfield, combined with MATTER’s capabilities and experience, will create a healthcare and life sciences community unlike any other,” said MATTER CEO Steven Collens. “We are thrilled to bring our innovation model to a world-class city like New York and begin working closely with entrepreneurs, scientists and innovators to develop technologies and solutions that will improve the healthcare experience.”
MATTER will be located at 345 Park Avenue South, which was recently purchased by Deerfield Management. With the support of NYCEDC, the building will be renovated to include lab-capable and supportive space for entrepreneurs and developed into a unique life sciences campus.
“We are proud to be part of a community of people in New York who strive to save and extend lives. Creating an environment in which innovative thinking, ground-breaking advances in scientific discovery and where the development of new paradigms of patient care will occur every day is tremendously exciting,” said Deerfield Managing Partner James Flynn. “We look forward to working with MATTER and our many other partners to make this vision a reality.”
MATTER opened its doors in Chicago with 30 startup companies and a handful of programs. With the support of public and private entities, the MATTER community has grown to include more than 200 startup and growth-stage companies from around the world, as well as dozens of world-class hospitals and health systems, universities and industry-leading organizations. The solutions developed by MATTER startups have benefitted more than 90 million people.
“MATTER has been instrumental to our growth in Chicago,” said Jason Smith, CEO and co-founder of rMark Bio, a MATTER member. “As we look to grow on the East Coast, we are thrilled to be able to do so in concert with MATTER’s expansion to New York City.”
In the coming months, MATTER will work with NYCEDC and Deerfield to finalize details of the New York location. The campus is expected to open in early 2021, and MATTER will be hiring a locally based team to lead its New York City operations.
“Innovation isn't bound by city limits,” said Collens. “By becoming a bridge between Chicago and New York City, we will be able to more easily create East Coast opportunities for Chicago-based companies and help New York companies enter the Midwest. Opening MATTER in New York is a natural next step in our vision to create the strongest healthcare innovation community globally.”
“We are thrilled that our partnership with Deerfield and MATTER will not only create quality jobs for New Yorkers but will also help provide a home for emerging companies to develop breakthrough scientific discoveries,” said NYCEDC President & CEO James Patchett. “New York City already has the best research institutions in the world. By investing in the life sciences campus to bring new lab space and programming for healthcare and early stage biotech companies, we can strengthen the city’s position as a global leader in life sciences.”
At MATTER, we believe collaboration is the best way to improve healthcare. The MATTER collaborative includes more than 200 cutting-edge startups from around the world, working together with hospitals and health systems, universities and industry-leading companies to build the future of healthcare. Together we are accelerating innovation, advancing care and improving lives. For more information, visit matter.health and follow @MATTERhealth.
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