In The News

Montco biopharm firm opens new headquarters

Philadelphia Business Journal, September 12, 2018 — By John George, Senior Reporter

Harmony Biosciences, which last year completed the largest life sciences equity financing deal in the region when it raised $270 million, officially opened its 15,651-square-foot corporate headquarters in Plymouth Meeting, Pa., on Wednesday.

Founded in 2017, the privately owned biopharmaceutical company is focused on developing new treatments for people living with rare diseases. Its lead new drug candidate, pitolisant, is an experimental therapy for the sleeping disorder narcolepsy.

Harmony Biosciences — was established by Chicago-based Paragon Biosciences, a global biopharmaceutical incubator and investment firm — is led by CEO John C. Jacobs. It has grown to 42 employees, who will work out of the company's new headquarters at 630 W. Germantown Pike. Harmony Biosciences invested about $1 million in renovations for its headquarters, which it is leasing.

Among those attending the company's grand opening ceremony for its new headquarters was Gov. Tom Wolf.

"Pennsylvania and Pennsylvania-based companies have always been trail blazers in the life sciences,” Wolf said. “We, as a commonwealth, are proud to be the home of so many of the important leaders shaping the healthcare and life sciences industry today. I want to thank Harmony Biosciences for choosing Pennsylvania as the best place to do such important and life changing work.” 

Chris Molineaux, president and CEO of the Wayne-based industry trade group Life Sciences Pennsylvania, also attended the opening.

“This is another reflection of the quiet but rapid growth of Pennsylvania’s life sciences community, which now counts more than 2,800 companies — the most ever for Pennsylvania," Molineaux said. "Harmony’s expansion is a big deal because it reaffirms the fact that, despite perhaps conventional wisdom, investment capital is flowing into Pennsylvania for companies with strong leadership, promising products and a patient community with significant unmet needs.”