U of Pennsylvania reportedly investing up to $50 million in biotech start-ups

Talk about a bold statement! The University of Pennsylvania has agreed to invest up to $50 million over the next three years in at least 10 biotech companies. According to this article in The Philadelphia Inquirer, the goal of the pilot program is to have more local start-ups established near the school’s West Philadelphia campus instead of moving to traditional venture-capital centers in Massachusetts, California, and other states where funding has been more readily available.

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