The Story of Traverse Biosciences
Read the Story of Traverse®
Often times, start-up companies just don’t have the resources to accomplish all they need to move their companies to the next stage of development. Expert guidance and even the smallest additional resources can yield incredible returns for these companies. Our programs and services have played a key role in the advancement of many start-up opportunities.
In terms of company formation, more than forty-seven new companies were started from Long Island’s academic research community over the last three decades, including Collagenex (bought by Galderma), ICOS Corp (700 employees), Geron (175 employees), PathoGenesis (283 employees), and Pharmacopeia (169 employees) to name just a few. Collectively they represent thousands of jobs, hundreds of millions of dollars in revenue and multi-billion dollar valuations.
Not only have we focused on starting companies, but we’ve established programs and entities to help grow companies. We played a key role in establishing the Long Island High Technology Incubator, Stony Brook University’s first incubation program supporting biotech. To date there are four incubators on campus supporting start-up efforts across disciplines with a proposed expansion to include mezzanine space at Stony Brook’s 245 acre research park. We also worked to create NewYorkBio (formerly NYBA), the life science trade association of New York, dedicated to serving the needs of New York State-based bioscience-related industries and institutions, and to strengthening the competitiveness of New York State as a premier global location for biotechnology/biomedical research, education and industry. We created innovative workforce development programs that help provide the talent that emerging companies need.