Pennsylvania's biotechnology industry may soon receive a revitalizing shot in the arm this year.
And, University officials hope, that will mean something extra for Penn as well.
Beginning next month, the legislature will consider lowering taxes for the industry, giving firms more room for experimentation and changing funding levels for research, said Dennis Flynn, president of Pennsylvania Bio, a trade group representing the biosciences industry.
An increase in funding for Pennsylvania's biotech centers could also mean more funding for Penn's biotech research, since 60 percent of the funding is invested in projects by academic institutions, said Ellen Semple, a spokeswoman for the Biotechnology Greenhouse of Southeastern Pennsylvania.
There are currently three major biotech hubs, known as Greenhouses, in Pennsylvania that already receive a sizeable amount of funding from the state. The centers use the state's money to support research and entrepreneurship in the sciences.
"There's a big request now for the legislature to continue the funding of our three Greenhouses, as well as [for] additional funding for venture capital for biotech firms," Flynn said.
Wharton Health Care Systems professor Mark Pauly pointed out that Philadelphia's proximity to major pharmaceutical companies makes it a prime area for biotech growth, but added that "there are a lot of ways Penn can improve in how we interact with local industries and biotech firms. The University has somewhat lagged behind in terms of partnership."
Lately, Penn has tried to bring together biotechnology and business to attract students to the subject, said Susan Davidson, a professor in the University's Biotechnology master's program.
"There's been a growth in interest in biotechnology, and Penn has added to the biotech programs tracks by offering entrepreneurship," she said.
And these efforts, experts say, will affect the state's biotech initiatives in return.
"While there's always a risk with government funding of sciences, the secret ingredient seems to be having a set of top notch universities," Pauly said. "In a sense, biotech people are created here and trained here."
Pauly added that, because "Philadelphia doesn't produce steam engines anymore, this region is heavily dependent on the biotech industry," he said.
In the meantime, University officials are finding other ways to jump on the biotech bandwagon.
"We're ramping up our work in biotechnology," Penn President Amy Gutmann said. The state's "priorities are very much aligned with ours."
Michael Wald, a fourth-year bioengineering graduate student who serves as co-president of Penn's Biotech Club, said students are also trying to expand opportunities for research.
"We want to provide a network for people with business or science skills to interact," he said. "Students want to be involved in a science industry in a business world. They want to do something important."
