Radnor-based Brodie Generational Capital Partners has bought the assets of Cytimmune Sciences, a medical research company based in Rockville, Maryland and is relocating it to Philadelphia, writes Paul Schwedelson for Philadelphia Business Journal.
The acquisition was made three months ago. Cytimmune Sciences is now a subsidiary of Brodie Generational and is known as Zahav Biosciences. It will be developing drug products that destroy cancerous tumors.
Brodie Generational’s co-president Jacob Brodie said his father survived lymphoma, so the company is passionate about investing in cancer research.
Zahav is Brodie’s first startup investment. It will lease 8,200 square feet of space at Race Street Labs at 1421 Race Street.
“It came down to, we know the region very well,” Brodie said. “Born and raised in Philly and had our company in the area, we knew that there was a lot of good opportunity for the resources you need for a research lab like this in the area.”
Brodie said his family’s firm plans to continue buying businesses in the chemical, pharmaceutical, and healthcare areas, giving them capital to help them grow. It is open to investing in local startups, but that’s not a top priority, Brodie said.
Find out more about Brodie Generational Capital Partners in the Philadelphia Business Journal.
AtlanticLive took a look at Philadelphia’s future with Life Sciences in this discussion from four years ago.
