A modern, shared workspace for life science companies to develop and grow
March 1, 2016 – Philadelphia, PA – Militia Hill Ventures, a firm dedicated to the creation and development of high-growth life sciences companies in Philadelphia, announced the opening of the MHV Innovation Hub at 3001 Market Street, across from Philadelphia’s 30th Street Station. Initial residents in the MHV Innovation Hub include biotechnology companies involved in the discovery and development of new therapies for patients with unmet medical need, companies focused on diagnostics and health outcomes, and life sciences investors.
Militia Hill Ventures is led by experienced entrepreneurs Jane Hollingsworth and Joan Lau. Ms. Hollingsworth was co-founder and former CEO of NuPathe Inc., a publicly-traded biopharmaceutical company focused on diseases of the central nervous system and sold to Teva Pharmaceuticals in 2014. She also co-founded and served as EVP of Auxilium Pharmaceuticals, a publicly-traded specialty pharmaceutical company and sold to Endo Pharmaceuticals. Dr. Lau was previously CEO of Locus Pharmaceuticals and subsequently Azelon Therapeutics, venture capital-funded companies focused on discovery and development of therapeutics in multiple disease areas.
Jane Hollingsworth, managing partner of Militia Hill Ventures said, “the opening of the MHV Innovation Hub is an important step in fulfilling our firm’s mission. It offers a central location in the midst of Philadelphia’s thriving medical research institutions and academic communities and provides the collaborative environment so helpful to building successful life sciences companies.”
“The local life sciences community is experiencing a rebirth and is poised to leverage the strong history of drug development and commercialization in the region,” added Joan Lau, managing partner of Militia Hill Ventures. “The MHV Innovation Hub resident companies exemplify and leverage this great regional strength, with veteran drug developers and entrepreneurs working together to invest in and grow the next generation of companies,” concluded Lau.
Michael Nutter, former Mayor of Philadelphia said, “While I was Mayor, it was important to me and my administration to spark innovation, including life science companies. The establishment of the MHV Innovation Hub is an important step forward in the City’s ongoing efforts to make Philadelphia a great center for the next generation of life-changing healthcare innovations and high-growth life sciences companies. Militia Hill Ventures has been, and continues to be at the forefront of this effort to maximize the value of the many great assets of our City.”
The MHV Innovation Hub currently provides offices, workstations, a café, locker facilities, conference rooms and many other advantages to its resident companies, with plans to add wet labs. The MHV Innovation Hub resident companies are able to utilize the shared space to convene conferences or educational offerings, hold board, investor or other meetings and host or participate in a variety of other industry-related activities. The MHV Innovation Hub is located together with PHL Next Stage Med, the new, Philadelphia-based health care company accelerator, and Plexus Innovation Hub, a medical device co-working community.
About Militia Hill Ventures
Militia Hill Ventures creates and develops transformative life sciences companies in the Philadelphia region. Through our broad network, relationships and domain expertise, we bring together cutting-edge scientific technology, world-class scientific experts, proven management and successful investors. This proactive approach generates companies capable of developing important new therapies for patients and delivering value to investors.
Founding Managing Partner
Militia Hill Ventures