Deerfield’s $635M incubator is latest boost for NYC biotech

With a $635 million investment in a new life sciences campus in Manhattan, Deerfield joins a cadre of investors who are building out New York City’s biotech ecosystem.

New York has no shortage of high-quality science and academic talent, but the city has lagged behind the San Francisco Bay Area and Boston in developing and retaining its own innovations, in part due to a lack of lab space, a dearth of commercial interest and a lack of biotech-focused venture firms (see “New York’s Biotech Beginnings”)...