Pennsylvania Governor Rendell Says State Number 1 in New Biotechnology Study

Magazine Ranks Pennsylvania Ahead of California, Massachusetts

HARRISBURG, Pa., July 23 /PRNewswire-USNewswire/ -- Pennsylvania's efforts to
develop and diversify its biotechnology business sector have made it the
number one state in the nation in the newest Business Facilities magazine
study, Governor Edward G. Rendell said today.

"We have laid the groundwork to keep Pennsylvania number one in biotech,"
Governor Rendell said of the overall biotechnology strength ranking. "The
commonwealth's support for the entire continuum of biotech initiatives, from
research and development and product commercialization to bringing mature
companies to our state, is paying dividends, even in these uncertain economic
times."

Governor Rendell announced the ranking today during the groundbreaking in
Montgomery County for the new North American headquarters of Almac, a provider
of research, development and manufacturing services for pharmaceutical and
biotechnology industries worldwide.

The magazine cited "the diversity and depth of Pennsylvania's initiatives" in
giving it its top ranking. This year's ranking represents a significant
advancement for the commonwealth, which has been no higher than 11th position
in biotechnology strength over the previous three years.

The report identified more than 20 key criteria, including the amount of state
R&D funding and venture capital investments; the level of concentrated
occupational employment in biotech; tax exemptions and university grant
funding among other factors.

"Biotechnology plays a critical role in Pennsylvania's economic and strategic
growth," Governor Rendell said. "We're providing our biotechnology industry
with a competitive edge by directing support and funding to companies to
expand, create jobs and retain Pennsylvania's talent."

Pennsylvania's programs to address the ongoing needs of life science companies
include the Commonwealth Universal Research Enhancement, or CURE, grant
program; the Life Sciences Greenhouse Initiative; and venture capital
investments.

The report noted that Pennsylvania set aside $150 million in 2007-08 from its
tobacco settlement allocation to support bioscience research in CURE.
According to a Life Sciences report released by the Department of Community
and Economic Development earlier this summer, CURE has invested more than $228
million of its tobacco settlement funds directly in health-related research
projects.

The Life Sciences Greenhouse Initiative, which was created as part of a larger
plan to ensure continued growth in the biosciences in Pennsylvania has, since
2001, invested more than $36.5 million in more than 170 projects.
Additionally, the Ben Franklin Technology Partners, a statewide network that
catalyzes entrepreneurship and technological innovation as drivers of economic
growth, leveraged $675 million and created and retained 2,475 jobs.

Also, more than $500 million in venture capital investment went to
biotechnology, medical device and equipment companies in 2007. These venture
capital investments have placed Pennsylvania number three in employment by
VC-backed companies, according to The National Venture Capital Association.

"The commonwealth's commitment to innovation in biotechnology has resulted in
growth and success in this constantly evolving industry," Governor Rendell
said. "The spirit and collaboration of our researchers, entrepreneurs,
company executives and policy leaders are creating an environment where ideas
lead to scientific breakthrough and breakthroughs lead to products in the
marketplace."

For more information on Pennsylvania's bioscience initiatives or other DCED
programs, visit www.newpa.com or call 1-866-466-3972. For more information on
the 2008 Business Facilities Ranking Report, visit www.businessfacilities.com.

The Rendell administration is committed to creating a first-rate public
education system, protecting our most vulnerable citizens and continuing
economic investment to support our communities and businesses.To find out more
about Governor Rendell's initiatives and to sign up for his weekly newsletter,
visit www.governor.state.pa.us.

CONTACT:
Teresa Candori
717-783-1116

Jamie Fulginiti (DCED)
717-783-1132

SOURCE Pennsylvania Office of the Governor

Teresa Candori of the PA Office of the Governor, +1-717-783-1116; or Jamie
Fulginiti (DCED), +1-717-783-1132