Page 32 - Westchester Economic Development Guide - 2017 PDF

WESTCHESTER WORKS BIOTECH
BIOTECH BOOSTS
WESTCHESTER’S ECONOMY
As one of the strongest growth sectors, there are more than 80 biotech companies that are growing in a cluster in Westchester and the Hudson Valley. With 8,000 employ- ees, Westchester’s biotech workforce represents nearly 20 percent of New York State’s biotech workforce.
Based in Tarrytown, Regeneron Pharmaceuticals, Inc. is the state’s largest biotech company. With more than 5,000 employees, the company was ranked by Science magazine as the world’s number one employer in the biotech and pharmaceutical industry. Regeneron employs a large portion of its workforce – more than 2,000 em- ployees – from its Westchester corpo- rate headquarters and state-of the-art laboratory facilities. Regeneron has experienced tremendous growth and expansion and the company currently occupies nearly 1.5 million square feet of space in Westchester County.
The Westchester/Hudson Valley Biotech corridor is also home to premier medical and research institutions such as New York Medical College, NewYork- Presbyterian Hospital and Westchester Medical Center. Leveraging this excep- tional concentration of hospitals and healthcare institutions, the county is gaining distinction for its biotech re- search activity.
New York Medical College’s biotech incubator, BioInc@NYMC, is the Hud- son Valley’s only biotechnology incuba- tor offering shared resources, turnkey wet lab space, and professional services to promising, high-potential entrepre- neurs and start-ups. Beyond providing best-in-class infrastructure and opera- tional services, BioInc@NYMC assists its members in refining their business strategies, conserving capital, building strong teams, and achieving develop- ment and funding milestones.
The Acorda Therapeutics campus, located in Ardsley
ACORDA THERAPEUTICS
Tierney Saccavino
30 WESTCHESTER COUNTY ECONOMIC DEVELOPMENT GUIDE
With nearly 600 em- ployees, Ardsley-based Acorda Therapeutics markets Ampyra, which improves walking in
people with multiple sclerosis. The drug gen- erated roughly $436 million in sales in 2015. Tierney Saccavino, executive vice president for Corporate Communications for Acorda, reveals why “Westchester is the best place for us.”
Why did Acorda choose Westchester as its home?
Acorda was founded in 1995. Our Founder and CEO, Ron Cohen, MD, is from New York City and wanted to focus on New York for three main reasons: Wall Street – access to capital; media – access to publicity; and the terrific concentration of universities and hos- pitals, which would provide access to the best medical minds and newest scientific develop- ments. There’s a huge cluster of scientific and medical companies here, as well as experts in medical fields. When the company was founded, New York City was unaffordable for a start-up. We got our first venture capi- tal funding in 1998, and moved into our first
location in Hawthorne. We’ve been in Ardsley five years and expanded last year. With a big product pipeline, we have the option for further expansion.
How does Acorda give back
to Westchester?
Acorda’s mission is to develop therapies that restore function and improve the lives of people with neurological disorders. We feel that part of that mission is to ensure the next generation will carry on that work. We’re committed to supporting Science, Technol- ogy, Engineering, and Mathematics educa- tional programs in Westchester, and help less well-resourced communities. The Acorda Sci- entific Excellence Awards honor high caliber student scientists in the area.
Why does Westchester work for Acorda?
The population of Westchester is highly edu- cated; there are a large number of hospitals and institutions. There is a good talent pool of highly educated individuals, medical pro- fessionals and well-skilled workers. For these reasons, Westchester County felt like the best place for us.