Philly Life Science Orgs See Leadership Changes, Strong Funding to Kick off 2021

Philadelphia’s life sciences sector has already seen a strong start to 2021 with new leadership and fundraising across companies in the region.

The sector was already on the rise: Philly recently ranked seventh in the country for top life sciences clusters, based on the region’s relevant job base, the amount of lab space inventory and the amount of funding it attracts from venture capitalists, a CBRE report found at the end of last year.

This month, Ben Franklin Technology Partners, the state-backed early-stage investing org that supports various life science and tech startups in the region, will officially instate Scott Nissenbaum as its president and CEO.

Previously the org’s chief investment officer, Nissenbaum will take the title of president and CEO on Jan. 11, when current head RoseAnn Rosenthal will officially step down and take on an advisory CEO emeritus role. The transition was first announced in June, and Nissenbaum assumed the title of president and chief operating officer beginning July 1.

“I have been blessed to have had the opportunity to lead an organization whose mission, purpose and people contribute so much to our regional community,” Rosenthal said in a statement last summer. “It is the right time for this transition: for me personally, and for the organization as a healthy milestone in development of its next strategic plan.”

Niseenbaum, who has been with the org for the last five years, and has since grown the portfolio by more than 100 companies, streamlined the org’s investment processes, spearheaded fundraising for the GO Philly Fund and managed BFTP’s co-investment partnerships. He, Rosenthal and VP of Marketing and Communications Jason Bannon were collectively added to Technical.ly’s 2020 RealLIST Connectors for their work with early-stage startups.

The incoming president told Techncial.ly he “couldn’t be more excited” about the work he’ll be doing and to build on the existing legacy with the org.

“I have the very fortunate opportunity to build on RoseAnn’s amazing legacy, and will stay focused on continuing Ben Franklin’s work of helping promising companies and founders get access to the capital and resources they need to thrive here, for the benefit of the Philadelphia region and the Commonwealth,” he said.

Read the full article here.

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