Traverse Biosciences, led by the CFB’s first BioEntrepreneur-in-Residence Joseph Scaduto, has received a $1.3M Phase II Small Business Technology Transfer (STTR) Award in partnership with the School of Dental Medicine at Stony Brook University. Funding from the National Institute of Dental and Craniofacial Research (NIDCR) of the National Institutes of Health (NIH) to Evaluate the Pre-Clinical Safety and Effectiveness of TRB-N0224 for the Treatment of Periodontal Disease. The research will be led by Lorne Golub, DMD, MD (Honorary) in the Department of Oral Biology and Pathology, and Ying Gu, PhD, DDS, in the Department of General Dentistry, who will serve as co-principle investigators on the award, in close collaboration with Traverse Biosciences. Read more here.
iCell Gene Therapeutics, a CFB client company, has announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation for its chimeric antigen receptor engineered T-cells directed against the target protein CD4 (CD4CAR) for the treatment of peripheral T-cell lymphoma (PTCL). The Orphan Drug Designation program provides orphan status, and associated development incentives, to drugs and biologics intended for the safe and effective treatment, diagnosis or prevention of rare diseases or disorders that affect fewer than 200,000 people in the U.S. Read more about the designation and company here.
Independently documented economic impact: $1.2 Billion
Jobs created: 1,125
New corporate revenues: $812 Million
Supported additional funding: $238 Million
Center for Biotechnology documented economic impact over recent fifteen-year period
Perhaps it is numbers like these which best illustrate the success CFB has had on the biotechnology industry and economy.
And perhaps they contributed to the redesignation of the CFB as a Center for Advanced Technology for ten years by the New York State Foundation for Science, Technology and Innovation (NYSTAR) as a Center for Advanced Technology (CAT).
The New York State redesignation recognizes the impact of the CFB over 30 years driving innovation toward commercial goals and resulting in accelerated product development cycles “from bench to boardroom to bedside.” It recognizes the key role played by the CFB in facilitating a regional bioscience innovation ecosystem, collaborating with Stony Brook University, Cold Spring Harbor Laboratory, and Brookhaven National Laboratory.
The redesignation by New York State validates all of the work we have done over the last 10-year period to create the foundation for exponential growth. We would not have secured the National Institutes of Health REACH award without it, says Clint Rubin, Director of the Center for Biotechnology.”The REACH designation represents an $8.1M investment in technology development, commercialization, and new company formation. Visionary’s like New York State Senator Kenneth La Valle deserve the credit. They recognized thirty years ago that universities represented a largely untapped pool of innovation and economic potential.
Strikingly, it validates and provides the foundation for the new Long Island Bioscience Hub (LIBH), a CFB-led initiative to formally bring these institutions together to foster technology development, commercialization, and new company formation. The LIBH is a bold step made possible by a partnership with the National Institute of Health REACH initiative (Research Evaluation and Commercialization Hub). The NIH award places the CFB in the national spotlight along with other elite institutions. (Read more on the NIH REACH award here)
“This redesignation occurs in an interesting and changing environment, where varying elements in the regional, state, and national biotech ecosystem are aligning. There is a confluence of events and issues that are creating a unique opportunity to build the biotech economy in the region and across the State.” Commented Diane Fabel, Director of Operations, CFB. “We have learned a lot about the process of moving academic innovation into the commercial sector over time. And there have been such tremendous scientific advances recently that represent new commercial opportunities and life saving technologies. There is still much to learn and do, and it is an incredibly exciting time to be doing it.