Pittsburgh Life Sciences Greenhouse Blog

Phil Petraglia 03-21-2015

PLSG’s Commitment to Investing in the Western Pennsylvania Region

PLSG’s Commitment to Investing in the Western Pennsylvania Region

By Phil Petraglia, Vice President and Chief Financial Officer at PLSG

The Pittsburgh Life Sciences Greenhouse (PLSG) has made significant investments to the life sciences industry in Western Pennsylvania since its inception in 2002. As our programs and portfolio clients continue to thrive, we are always looking to build upon past success to further enrich technology and innovation in life sciences and biotech in the area.

Here’s a quick break down on our recent accomplishments for the region:

  • We currently have $42M under management
  • We operate a $8M venture fund under the Accelerator Fund
  • The PLSG has helped to bring more than 125 products from our portfolio companies into commercial market, with more than one-third regulatory approval
  • In our executive development program, we have:

o   Imported 13 companies into the region

o   Brought 13 CEOs/executives into the region as Executives-in-Residence

  • 45 employees have gone through executive program, 29 remain in region as C-level, 15 of which are CEOs

o   There are more than 410 companies in our portfolio

o   We have invested in a total of 75 companies

o   There has been a total of 8 exits for nearly $300M

o   $930M capital in after PLSG funding, highly leveraged

o   $2B in conservative market valuation for our investment portfolio

  • More than 34 companies have used incubator space at PLSG
  • There is more than 200 years of life sciences experience on staff
  • Team members raise have raised more than $1M in careers
  • Nearly 2,000 direct jobs created in region and another 12,000effected

 The PLSG had a great year in 2014 and is well positioned for continued growth in 2015. We look forward to continued to advancements in the life sciences category and stand by our commitment to foster the development of researchers, entrepreneurs and emerging companies in Western Pennsylvania.