The growth of the biotechnology in North Carolina and other parts of the nation is fueled partly by COVID-19 research. | Adobe Stock
The growth of the biotechnology in North Carolina and other parts of the nation is fueled partly by COVID-19 research. | Adobe Stock
The biotech industry is exploding this year for several reasons, but most notably because of the number of COVID-19 vaccines currently being tested.
"Independent of our current predicament, this sector was poised to grow," Lorie Damon, managing director of the U.S. Health Care Advisory Practice at Cushman & Wakefield PLC, said, BioSpace reported on Oct. 13. "And a lot of that has to do with technological advances and therapeutic advances that were made possible. Some of them came out of the cancer moonshot funding from several years back, the sequencing of genomes, CAR-T therapies. All of those things have led to significant advances, and all of that is going to continue on when there is no pandemic."
According to BioSpace, many coronavirus vaccines are being tested, including Regeneron's novel anti-viral antibody cocktail.
New York, Maryland, Washington, D.C. and Virginia are benefiting the most from the biotech expansion, BioSpace reported.
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