Life sciences companies have a new home at Drexel.
A real estate development company called PHL Next Stage Med is launching a 20,800-square-foot shared office space for health IT and medical device companies on the first floor of Drexel’s One Drexel Plaza (3001 Market St.).
Like many shared office spaces, it’s meant to be a place for companies that aren’t quite ready for their own space and a longterm lease, said PHL Next Stage Med cofounder Richard Hayden. It feels like an alternative to the University City Science Center, which also houses life sciences companies but generally in private offices.
The four-floor One Drexel Plaza building is currently a mix of classrooms and office spaces, so the new coworking space is a way for Drexel to turn the building into part of its “Innovation Neighborhood” vision.
A mix of life sciences companies and service providers are moving into the space. Initially, there’s more of an emphasis on medical device companies, rather health IT. Here’s a look at the early tenants:
- PLEXUS, a healthcare coworking space with members like the StartUp PHL-backed Velano Vascular, ZSX Medical and Hemosonics that will take up 60 percent of the space. PLEXUS was founded by Adam Dakin and Eric Sugalski, the latter of whom runs Boston Device Development, another tenant in the space.
- Militia Hill Ventures, an investment firm led by NuPathe cofounder and CEO Jane Hollingsworth.
- Boston Device Development, a product development firm that’s moving from its Media, Pa., headquarters.
This is PHL Next Stage Med’s first project, said Hayden, an attorney with Saul Ewing.
The PHL Next Stage Med team is made up of three husband-and-wife pairs: Richard and Kathy Hayden, Rob and Lynn Reisley and Mike and Annette Turner.
Reisley runs a private equity investment firm called Evergreen Industries, where PACT CEO Dean Miller is a partner. Reisley’s on the board of Basho, the Cambridge, Mass.-based big data company that makes Riak, according to his LinkedIn.