13 Biggest Biotech Companies in New York

Over the past two decades, New York City's biotech sector has transformed from a small cluster into one of the nation’s fastest-growing life sciences hubs, driven by deep public investment, a robust research infrastructure, and surging venture capital funding.

Employment in the city's life sciences industry has grown nearly 60% over the past 10 years, fueled by a quadrupling of company launches since 2019, and supported by more than $1 billion in public initiatives like LifeSci NYC, which aims to create 40,000 jobs and scale the city’s biotech ecosystem to over 1,000 companies by the end of the decade.

The city’s gross city product from biotech reached $4.9 billion in 2024, with venture funding rising from $311 million in 2014 to $2.4 billion in 2024, highlighting both growing opportunity and stiff competition for leadership in the space.

Academic institutions such as Columbia and NYU, along with incubators like JLABS @ NYC, BioLabs@NYU Langone, and IndieBio, anchor the city’s innovation pipeline and foster collaboration between early-stage startups and industry heavyweights.

Looking ahead, AI-powered drug discovery, gene and cell therapies, and cross-industry partnerships are expected to define the sector’s next evolution. As the sector matures, New York is poised to rival established biotech centers like Boston and San Francisco through a unique blend of scientific excellence, investment momentum, and a world-class talent base.

RELATED: Accelerator vs. Incubator: Which is Right for Your Healthcare Startup?

Sector: Pharmaceuticals and therapeutics that include vaccines, oncology, rare disease, and mRNA platforms

HQ: The Spiral in New York City’s Hudson Yards

Year Founded: 1849

Origin Story: Cousins Charles Pfizer and Charles F. Erhart founded the company in Brooklyn in 1849. Initially set up as a fine-chemicals business, their first product was santonin—the anti-parasitic drug came in candy form and tasted like toffee.

Key Leaders: Albert Bourla, Chairman and CEO

Number of Employees: 81,000

Stage: Public

Financial Snapshot: $139.3 billion market cap

Notable Investors: The Vanguard Group, BlackRock, and State Street Corporation

Key Products: Comirnaty, the Pfizer-BioNTech COVID-19 mRNA vaccine, received FDA approval in 2021, making it the first FDA-approved COVID-19 vaccine. They also released Paxlovid, an FDA-approved oral antiviral for treating milder forms of COVID-19 in adults and children.

Recent Highlights: In the past two years, Pfizer has invested heavily in oncology, AI, and digital health. The company co-led an $80 million funding round for the AI-driven biotech CytoReason and committed $15 million through The Pfizer Foundation to improve access to breast cancer care in Africa. Pfizer’s VALOR Phase 3 Lyme disease trial is expected to wrap up by the end of 2025. After Mikael Dolsten’s retirement, Chris Boshoff moved from Chief Oncology Officer to Chief Scientific Officer and President of R&D.

Sector: Oncology EHR and analytics used by pharma and researchers

HQ: 233 Spring St., New York, NY

Year Founded: 2012

Origin Story: Founders Nat Turner and Zach Weinberg, both with media backgrounds, used their ad tech experience to build the platform. Around the same time, Turner's cousin was diagnosed with leukemia, which further strengthened their mission to improve cancer care.

Key Leaders: Nathan Hubbard, CEO

Number of Employees: More than 2,500 Stage: Acquired

Financial Snapshot: Valued at $1.9 billion during acquisition

Notable Investors: Roche, Google Ventures (GV), Allen & Company, Baillie Gifford, and Casdin Capital

Key Product: Flatiron Health offers OncoEMR, an electronic medical record (EMR) system that helps medical teams manage patient data and treatment plans and streamline internal workflows.

Recent Highlights: Over the last decade, Flatiron Health’s research database has grown to include over 5 million patient records and 1.5 billion data points for oncology research. Most recently, the company launched six new hematology AI-powered datasets covering around 505,000 patients across different blood cancer types. Flatiron Health also teamed up with DeepScribe as its first ambient AI partner and integrated DeepScribe’s oncology-specific documentation tools with its OncoEMR platform.

Sector: Diagnostic imaging and AI

HQ: 224 W 35th St., New York, NY

Year Founded: 2015

Origin Story: Co-founder Alex Dresner experienced multiple healthcare system oversights that inspired him to start Imagen, beginning with a radiology report that missed his father’s lung cancer and delayed treatment.

Key Leaders: Alex Dresner, Co-Founder and CEO

Number of Employees: 100-250

Stage: Series C

Financial Snapshot: $134.3 million in funding so far

Notable Investors: GV (formerly Google Ventures), Brooklyn Bridge Ventures, Teamworthy Ventures, and Casdin Capital

Key Products: Imagen Technologies developed and received FDA clearance for its AI imaging software tools, which are part of its Diagnostics-as-a-Service (DaaS) platform.

Recent Highlights: Imagen Technologies finished its Series C funding round in early 2021, raising about $50 million. The company now has FDA 510(k) clearance for its Aorta-CAD tool, which helps primary care doctors detect aortic atherosclerosis and ectasia in chest X-rays. Imagen is also expanding its Diagnostics-as-a-Service model and taking an integrated approach that combines imaging hardware with AI-driven software to bring better diagnostics into clinical settings.

Sector: Therapeutics and drug discovery

HQ: 430 East 29th St., New York, NY

Year Founded: 2015

Origin Story: Founded by Charles Zuker, Tom Maniatis, and Richard Axel.

Key Leaders: Jay Galeota is CEO and President; Nancy Thornberry is Founding CEO, now on the Board, and leads R&D.

Number of Employees: 70-80

Stage: Series D

Financial Snapshot: Last known valuation was $1.27 billion in 2022.

Notable Investors: Mubadala Investment Company, The Column Group, Bill Gates, Lux Capital, Polaris Partners, and Illumina Ventures.

Key Products: Kallyope is advancing several gut-brain axis programs in metabolic, GI, and CNS conditions. As of 2025, these programs are either in preclinical or early clinical stages.

Recent Highlights: In February 2022, Kallyope closed an impressive $236 million Series D financing round co-led by Mubadala Investment Company and The Column Group. In May 2023, the company received an $8.2 million grant from the Bill & Melinda Gates Foundation to develop new interventions for children and for undernourished pregnant women and mothers affected by environmental enteric dysfunction. Later that year, Kallyope partnered with Sosei Heptares (now Nxera Pharma) to discover new drug targets for gastrointestinal diseases.

Sector: Gene therapy and genetic medicines

HQ: 655 Third Avenue, New York, NY

Year Founded: 2016

Key Leaders: Alexandria Forbes, PhD, serves as President, CEO, and member of the Board of Directors

Number of Employees: 350-400

Stage: Public

Financial Snapshot: Market cap estimated between $744.94 million

Notable Investors: Perceptive Advisors LLC, Sanofi, Johnson & Johnson, Adage Capital Partners Gp, LLC, Prosight Management, LP, Rubric Capital Management LP, BlackRock, Inc., 683 Capital Management, LLC, Millennium Management LLC, and J. Goldman & Co LP

Key Products: MeiraGTx is developing AAV-GAD, a gene therapy aimed at improving motor function in people with Parkinson's disease. The gene therapy is currently in Phase 3 development through a joint venture with Hologen Limited. They are also in the preclinical stage for another gene therapy they’re developing, AAV-BDNF, aimed at tackling obesity.

Recent Highlights: One of the biggest milestones for MeiraGTx in 2025 was its partnership with Hologen Limited, a collaboration that included $200 million in upfront funding and up to $230 million in additional committed capital. MeiraGTx is also focused on speeding up the development of their AAV-GAD gene therapy for patients with Parkinson’s disease. Several of their late-stage clinical programs are moving forward as planned.

Sector: Biopharma and drug development

HQ: 151 W 42nd Street, New York, NY

Year Founded: 2014

Key Leaders: Matt Gline, CEO

Number of Employees: An estimated 501-1000

Stage: Public

Financial Snapshot: $12.57 billion market cap

Notable Investors: SoftBank Vision Fund, QVT Financial LP, SB Investment Advisers (UK) Limited, FMR LLC (Fidelity), Viking Global Investors LP, BlackRock, Inc., The Vanguard Group, Inc., and Morgan Stanley

Key Products: Roivant Sciences manages several subsidiary programs ('Vants') across neurology, immunology, and rare diseases. Some of these subsidiaries have late-stage or FDA-approved assets.

Recent Highlights: In many ways, 2025 has been a successful year for Roivant Sciences, even with some challenges. The company reported a net loss of $729.8 million from continuing operations for the fiscal year ending March 31, 2025, mostly due to rising expenses in operations, particularly in R&D. Still, Roivant is making progress in leveraging AI, and launched its VantAI initiative to make protein interactions programmable. The company also repurchased around $1.3 billion of its own shares.

Sector: AI-enabled drug development and therapeutics

HQ: 16 East 34th Street, New York, NY

Year Founded: 2013

Key Leaders: Ben Liu, Co-Founder and CEO

Number of Employees: 180-200

Stage: Series D

Financial Snapshot: $372 million in funding to date, valuation over $1 billion during Series D

Notable Investors: Andreessen Horowitz (a16z) and Sam Altman

Key Products: Formation Bio provides an AI-driven drug development platform that speeds clinical trials and reduces delays, enabling patients to get access to treatments faster.

Recent Highlights: Following a successful $372 million Series D funding round in June 2024, Formation Bio partnered with Sanofi and OpenAI to launch Muse, an AI-powered tool designed to accelerate drug development. The company also expanded its executive team, adding Louis Brenner, M.D., as Chief Medical Officer, and Daniel Neil, PhD, as the new Chief Technology Officer, among other key hires. Formation Bio's pipeline includes Gusacitinib in Phase 3 for chronic hand eczema, ASN008 in Phase 2, and Sprifermin in Phase 2 for knee osteoarthritis.

Sector: Rare disease, small molecule therapeutics for neurological disorders

HQ: Hudson Commons building at 441 Ninth Avenue, New York, NY

Year Founded: 2014

Key Leaders: Jeremy Levin, DPhil, MB BChir, CEO and Chairman

Number of Employees: 11-50

Stage: Public

Financial Snapshot: $105.95 million market cap

Notable Investors: Takeda Pharmaceutical Co. Ltd., The Vanguard Group, Inc., RA Capital Management, Janus Henderson Investors

Key Products: Ovid Therapeutics is developing OV350, a small-molecule KCC2 activator for CNS disorders, which is currently in early clinical trials.

Recent Highlights: Ovid Therapeutics has had a strong 2025, recently raising a private investment in public equity (PIPE) in October which will likely generate up to $175 million for the company. They also advanced their KCC2 activator programs and reported positive Phase 1 results for OV329, a next-generation GABA-AT inhibitor for treatment-resistant epilepsy. It’s worth noting that in mid-2024, Ovid Therapeutics reduced its workforce by nearly half in an effort to extend its cash runway and streamline operations.

Sector: Life-sciences software and computational chemistry

HQ: 1540 Broadway, New York, NY

Year Founded: 1990

Key Leaders: Ramy Farid, PhD, President, CEO, and Board Member

Number of Employees: 800+

Stage: Public

Financial Snapshot: $1.60 billion

Notable Investors: BlackRock, Inc., The Vanguard Group, Inc., Bill & Melinda Gates Foundation Trust, Rubric Capital Management LP, Sumitomo Mitsui Trust Group, Inc.

Key Products: Schrödinger offers a computational chemistry platform for drug discovery. They also provide four software tools (Maestro, Desmond, Glide, and Jaguar) that support tasks such as graphical interface, molecular modeling, and molecular dynamics simulations.

Recent Highlights: Schrödinger continues to grow its software and drug discovery business, reaching about $180 million in software revenue in 2024 alone. A significant milestone that year was their deal with Novartis, which provided $150 million upfront and the potential for future payments of up to $2.3 billion. Schrödinger also received a $9.5 million grant from the Bill & Melinda Gates Foundation to improve its computer models that predict drug safety. Their drug discovery programs continue to hit milestone goals.

Sector: Biotechnology and genetic medicines

HQ: 345 Park Avenue South, 6th Floor, New York, NY

Year Founded: 2018

Key Leaders: R. Nolan Townsend, CEO

Number of Employees: 60+

Stage: Public

Financial Snapshot: Closed a $154 million equity financing in October 2025—on top of $122.8 million in Q3 cash—which is expected to fund operations into 2028.

Notable Investors: Frazier Life Sciences, Balyasny Asset Management, Citadel Advisors, Janus Henderson Investors, and The Vanguard Group

Key Products: Lexeo Therapeutics is developing LX2006, a gene therapy for Friedreich’s ataxia cardiomyopathy. LX2006 is currently in clinical trials, along with other early-stage gene therapy programs for cardiovascular and neurodegenerative conditions.

Recent Highlights: Lexeo Therapeutics is making gains in gene therapies for rare heart diseases. Its lead program, LX2006, showed promising results in early trials for Friedreich's ataxia cardiomyopathy and received Breakthrough Therapy designation from the FDA. Meanwhile, their LX2020 program for arrhythmogenic cardiomyopathy is in early trials. This year also marked an important $80 million equity financing for Lexeo Therapeutics. About a month prior, in May, around 15% of the workforce was reduced.

Sector: Pharmaceuticals and biotechnology (autoimmune and immunology therapeutics) HQ: 320 W 37th St., New York, NY Year Founded: 2018 Key Leaders: Eric Venker, MD, PharmD, CEO Number of Employees: 362 Stage: Public Financial Snapshot: $3.83 billion Notable Investors: SG Americas Securities, Roivant Sciences, RTW Investments, and BVF Partners Key Products: Immunovant is developing Batoclimab, an FcRn-targeting monoclonal antibody for autoimmune diseases (MG, TED, Graves’ disease), which is in Phase 3 registrational trials.

Recent Highlights: Immunovant is making progress in developing treatments for autoimmune and rare diseases. Their lead drug, Batoclimab, showed encouraging trial results for Myasthenia Gravis and CIDP, while their next-generation therapy, IMVT-1402, is being developed for multiple diseases, including Graves’ Disease and Sjögren’s. In 2025, the company welcomed Eric Venker as CEO and Tiago Girão as CFO to guide its growth. With about $714 million in cash available by the end of Q1, Immunovant is well-positioned to advance its programs in the coming years.

Sector: Pharmaceuticals and biotech (hematology-oncology and immunology)

HQ: 2 Gansevoort St., New York, NY (main HQ in Morrisville, NC)

Year Founded: 1993

Key Leaders: Michael S. Weiss, Chairman, President, and CEO

Number of Employees: 300+

Stage: Public

Financial Snapshot: $5.48 billion

Notable Investors: Transhuman Capital and Checkmate Capital

Key Products: TG Therapeutics markets BRIUMVI (ublituximab-xiiy), an FDA-approved treatment for multiple sclerosis. They are also developing UKONIQ and other early-stage hematology and oncology programs.

Recent Highlights: Thanks to strong growth from its multiple sclerosis treatment, BRIUMVI, which generated about $119.7 million in U.S. net revenue in Q1 of this year, TG Therapeutics is gaining significant momentum. Following roughly 137 percent year-over-year growth, the company raised its revenue target to about $575 million. TG Therapeutics is also developing a subcutaneous version of BRIUMVI and completed a $100 million share buyback while authorizing another $100 million program.

Sector: Pharmaceuticals, biotech (CNS therapies) HQ: One World Trade Center, New York, NY Year Founded: 2012 Origin Story: Dr. Herriot Tabuteau, Founder and CEO, has a background in both medical research and the world of healthcare investment, which helped shape this company. Key Leaders: Herriot Tabuteau, MD, CEO Number of Employees: 800+ Stage: Public Financial Snapshot: $6.65 billion market cap Notable Investors: The Vanguard Group, BlackRock, and Blackstone (financial partner) Key Products: Axsome Therapeutics markets Auvelity for depression and Sunosi for excessive daytime sleepiness. Both drugs are FDA-approved. They are also developing AXS-05, AXS-12, and AXS-14 for various CNS conditions in late-stage clinical trials.

Recent Highlights: Axsome Therapeutics is continuing its advancements in neuroscience. For Q2 of this year, the company reported net product revenue of $150 million, a 72% increase year-over-year. This growth primarily stems from sales of its antidepressant, Auvelity, and wakefulness treatment, Sunosi. At the start of the year, Axsome received FDA approval for its migraine drug, Symbravo. The company is preparing regulatory filings for its pipeline candidates, AXS-05 and AXS-12, both of which have received Breakthrough Therapy designation.