University City
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John Ternus, Next CEO of Apple, is a University of Pennsylvania Alum
Apple recently announced that University of Pennsylvania alumnus John Ternus will become the next CEO of the company starting September 1, writes Alastair Goldfisher for the Philadelphia Business Journal. Ternus will be the successor to incumbent CEO Tim Cook, who will be stepping into the role of Apple’s executive chairman. In a statement, Cook said…
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Penn Engineering Secures $40M in Early Commitments for $200M Research Fund Aimed at Combating Federal Cuts
A $200 million fund launched by the University of Pennsylvania’s School of Engineering and Applied Science will support faculty research and seed startups, aiming to offset the shortfall caused by federal funding cuts to universities, writes Ryan Mulligan for the Philadelphia Business Journal. The Futures Fund is set to back research and initiatives in fields…
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Penn Medicine Receives $10 Million Gift To Establish New First-Of-Its-Kind Research Center
Penn Medicine was recently gifted $10 million, which is being used to establish its new King Center for Lynch Syndrome, writes John George for the Philadelphia Business Journal. According to Penn Medicine, the new research center is the world’s first named for Lynch syndrome, a genetic condition that increases the risk of developing certain types…
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FMC Posts $2.2 Billion Loss, Launches Strategic Review Including Possible Sale
After posting a loss of more than $2 billion in 2025, FMC Corp., based in Philadelphia’s University City, is considering a potential sale, writes Michael Potter for the Philadelphia Business Journal. The company announced that its board has authorized both the search for a potential buyer and a strategic review to examine alternative options that…
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Brandywine Realty Obtains Record $87M Refinancing Loan for University City Life Sciences Tower
Brandywine Realty Trust recently obtained an $87.3 million in C-PACE financing for the life sciences building at 3151 Market Street in University City, writes Paul Schwedelson for the Philadelphia Business Journal. This is the largest loan of its kind in the history of Pennsylvania. The C-PACE loan was founded by Connecticut-based Nuveen Green Capital and…
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Penn and BioNTech Partner on New $50M Fund for Early-Stage Life Sciences Companies
The University of Pennsylvania and global biopharmaceutical company BioNTech have launched a $50 million fund to support early-stage life science companies emerging from the university, writes Sarah Huffman for Technical.ly. The Penn-BioNTech Innovative Therapeutics Seed (PxB) Fund will be managed by local venture firm Osage University Partners. “[The fund] will allow us to move faster…
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University of Pennsylvania Launches New $10 Million Startup Fund to Support School’s Researchers
The University of Pennsylvania recently launched a new $10 million fund to help support startups founded by researchers at the school, writes John George for the Philadelphia Business Journal. The new StartUP Fund will join a number of other startup initiatives that Penn has already established over the years. It will be managed by the…
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University of Pennsylvania Marks Strongest Endowment Growth Since 2021, Nears $25 Billion
The University of Pennsylvania reported a 12.2 percent return on its endowment for fiscal 2025, bringing the total value to $24.8 billion, writes Ryan Mulligan for the Philadelphia Business Journal. The $2.5 billion year-over-year increase marks Penn’s strongest endowment growth since fiscal 2021, when its value surged by nearly $6 billion in the wake of…
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David Fajgenbaum, Penn Immunologist Who Repurposed a Drug to Save His Own Life, Wins John Scott Award
David Fajgenbaum, a Penn Medicine immunologist who gained notoriety for saving his own life by repurposing an existing drug, has won the prestigious John Scott Award, writes Sarah Gantz for The Philadelphia Inquirer. He will be presented with the award, one of the oldest science awards in the United States, and the accompanying $10,000 cash…
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Philly Real Estate Investor Acquires Six-Building Apartment Portfolio in University City for $5M
Philadelphia-based real estate investor Loonstyn Properties has purchased a six-building, 41-unit University City apartment portfolio for $5 million, writes Paul Schwedelson for the Philadelphia Business Journal. The buildings, just north of Drexel University’s campus, consists entirely of one bedroom and one bathroom apartments. The acquisition also includes 21 parking spots. Loonstyn plans to renovate the…
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Wharton School Receives Largest Gift in History, Will Establish First New Degree Program in 50 Years
The Wharton School of the University of Pennsylvania has received a $60 million gift from alumnus Bruce I. Jacobs, writes Ryan Mulligan for the Philadelphia Business Journal. This marks the largest donation the Wharton School has ever been gifted in its 144-year history. With it, the school plans to establish the new Master of Science…
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Penn Medicine Opens New $376 Million Research Center in Philadelphia
Penn Medicine officially recently opened a new research center, a $376 million project that has added eight floors to a seven-story office building housing the Hospital of the University of Pennsylvania, writes John George for the Philadelphia Business Journal. The new levels at 3600 Civic Center Boulevard house teams from the Colton Center for Autoimmunity…
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FS Investments to Relocate Headquarters, Changes Name As Part of Rebrand
FS Investments has undergone significant growth in recent years, and that growth is leading to a company relocation and subsequent rebrand, writes Jeff Blumenthal for the Philadelphia Business Journal. The company is scheduled to officially relocate from the Philadelphia Navy Yard to a larger space at the Schuylkill Yards in University City. In addition, FS…
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Wall Street Journal: This Philadelphia Company is Better Equipped Than Others to Navigate Tariff Situation
While companies worldwide are having to manage the uncertain trade environment because of tariffs, some are better suited to navigate the situation than others, write Rick Wartzman and Kelly Tang for The Wall Street Journal. More specifically, companies that are well-managed and innovative often fit the description. Robert Handfield, executive director of the Supply Chain…
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Swiss Patient Returns to Penn Medicine Following Life-Changing Double Hand Transplant
Luka Krizanac, a patient from Switzerland, recently returned to Philadelphia for a visit to Penn Medicine, the hospital where he underwent a life-changing double hand transplant, writes Stephanie Stahl and Brad Nau for CBS News Philadelphia. For the first time in 17 years thanks to the transplant, Krizanac is able to text on his phone…
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Wistar Institute Opens New HIV Cure and Viral Diseases Center
The Wistar Institute recently celebrated a ribbon cutting for the opening of its new HIV Cure and Viral Diseases Center. The vision for the center is to uncover the fundamental science that powers tomorrow’s cures for HIV and other viral diseases. The belief is that revealing how viruses work and how the immune system responds,…
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Former Aramark CEO Gifts $2.55M to University of Pennsylvania
Former Aramark CEO Joseph Neubauer and his foundation recently presented a $2.55 million gift to the University of Pennsylvania through his foundation, writes Ryan Mulligan for the Philadelphia Business Journal. The new funding will go toward Penn’s police graduate program. With the gift, Penn and the Neubauer Family Foundation will be developing a first-of-its-kind graduate…
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CHOP, Penn Doctors Perform World’s First Personalized Gene-Editing Treatment on Local Infant
Shortly after being born during the summer of 2024, KJ Muldoon was diagnosed with severe Carbamoyl Phosphate Synthetase 1 deficiency, a rare genetic disorder. While the only effective long-term treatment for the ailment had been a liver transplant, doctors at the Children’s Hospital of Philadelphia and Penn Medicine decided to take a different approach with…
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