Although Chicago is the third largest city in the United States, when it comes to its position as a leading biotech hub, the second city ranks far below many other U.S. locations. That is starting to change, however, as new companies move into this heart of the BioMidwest region.

Chicago and its collar communities are home to a number of legacy companies, including AbbVie, Astellas, Abbott Biolabs, Horizon Therapeutics and Exicure.

Over the past several years, others have moved into the area, taking advantage of new wet lab spaces that have been or are being built, as well as lower-cost real estate options. John Conrad, president and chief executive officer of Illinois Biotechnology Innovation Organization (iBIO), told BioSpace the area is “seeing exponential growth” in new business and a 33% increase in the talent pool.

Read the rest of Alex Keown’s article, and John Conrad’s perspective on BioSpace