A bioscience conference hosted by LA BioMed featured nearly three dozen biomedical startup companies and declared Los Angeles as a national biotech hub.
The 5th Annual Innovation Showcase in Manhattan Beach on Sept. 13 highlighted 32 newly formed biotech, medical device and diagnostic firms, in addition to presentations by more than a dozen bioscience industry leaders and venture capitalists.
“Leading biotech startups now see the benefit of being in Los Angeles and believe in the potential of this area to draw more and more global talent and top-tier investment groups,” said Keith Hoffman, vice president of business development and technology of LA BioMed, in a statement.
“Biotech growth in the region will continue to pay off in a big way in terms of jobs, national recognition and broader economic development.”
The event drew nearly 300 participants from throughout the region.
LA BioMed, a 66-year-old biomedical research institute next to Harbor-UCLA Medical Center in Torrance, is at the center of an emerging South Bay cluster for biotech.
It will soon open a $63 million, four-story bioscience research building in March, including an 18,000 square-incubator known as Level III to house up to 30 startup biotech firms. It also has announced plans to develop an adjacent biotechnology park for early stage and established companies.
Health business reporter Dana Bartholomew can be reached at email@example.com. Follow him on Twitter @_DanaBart.