Biotech firms leaving big US cities for the suburbs
High rents, tight lab space forcing them out of Boston, New York and San Francisco
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THE biotech industry is facing high rents and tight lab space in Boston, New York and San Francisco, forcing companies into the suburbs in a sign that the "live, work and play" movement into big cities may have hit a roadblock.
For example, Modern Meadow, a biotech startup poised to manufacture leather from the fermentation of natural collagen protein without using live animals, was looking at a prohibitive US$200 million cost to build its own lab and manufacturing facility in New York City.
