Pittsburgh Life Sciences Greenhouse

Pittsburgh Life Sciences Greenhouse (PLSG) is a biotechnology initiative and non-profit organization based in Pittsburgh, Pennsylvania that provides resources and tools to entrepreneurial life sciences enterprises in Pittsburgh and western Pennsylvania in order to advance their research and patient care. The PLSG is made up of a public/private partnership which includes the Commonwealth of Pennsylvania, University of Pittsburgh, Carnegie Mellon University, University of Pittsburgh Medical Center, and various regional foundations.[1][2]

The PLSG grew out of an original plan known as BioVenture developed by Carnegie Mellon and the University of Pittsburgh.[2] The initiative received a major boost in 2001 when money from the state's settlement with the tobacco industry was pledged to create a life science greenhouse in Western Pennsylvania.[3] Other life sciences greenhouses in Philadelphia and Harrisburg also received seed money from the settlement.[4] In 2003, the non-profit Pittsburgh Biomedical Corporation, which was established in 1988 as the region's first biomedical economic development initiative, consolidated with the PLSG.[5]

The PLSG stated mission is to create, nurture and help establish a globally dominant life sciences industry in western Pennsylvania. PLSG primarily focuses on guiding researchers, entrepreneurs, and emerging companies through the challenges faced in the early stages of company development by advising them on business models and capital investments in order to help speed the delivery of biomedical innovations to the marketplace. The PLSG also helps in the expansion of more mature life science companies by supporting new product and market developments and by connecting them to new investors.

The PLSG is funded based on a revolving funding model that provides returning revenue which supports the ongoing growth of regional industry. In addition, the PLSG receives funding from the Commonwealth of Pennsylvania's Department of Community and Economic Development and Southwestern Pennsylvania's philanthropic foundation community.[6] The PLSG has committed over $11.3 million into 50 life sciences companies and has attracted over $300 million in follow-on funding for those emerging business.[7]

References

  1. ↑ Pittsburgh Life Sciences Greenhouse (2008). "About PLSG". plsg.com. Retrieved 2008-01-10.
  2. 1 2 Greenhouse Attracts First Company; Gets $33.3 Million in State Funding
  3. ↑ Life Sciences Greenhouse of Central PA (2006). "About the LSGPA". lsgpa.com/. Retrieved 2007-01-02.
  4. ↑ Pittsburgh Life Sciences Greenhouse (2002). "Governor Schweiker Launches PA's Landmark Life Sciences Greenhouse". pittsburghlifesciences.com/. Archived from the original on 2006-10-17. Retrieved 2007-01-02.
  5. ↑ Pittsburgh Life Sciences Greenhouse (2003). "PBDC merges with PLSG". pittsburghlifesciences.com/. Retrieved 2008-01-11.
  6. ↑ PLSG :: Pittsburgh Life Sciences Greenhouse :: - About PLSG
  7. ↑ PLSG :: Pittsburgh Life Sciences Greenhouse :: - PLSG Capital Investment Programs

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