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Center for Biotechnology Redesignated by New York State: ‘Unique Time of Change and Growth’

September 15, 2015

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.

 

 

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CFB Client, IAMBIC has been awarded approximately $1M in grant funding from the National Science Foundation Small Business Innovation Research program. IAMBIC is an innovative shoe company disrupting the centuries-old footwear industry with their sizeless, precision-fit footwear driven by proprietary AI algorithms. This substantial funding from NSF enables IAMBIC to scale its cutting-edge precision-fit shoe design and manufacturing.





The Center for Biotechnology and its accelerator programs have been instrumental in assisting IAMBIC with their SBIR pursuits and commercialization development. 





Read more about IAMBIC and their recent funding here.


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Inline image 1





 






IMPORTANT UPCOMING DATES




Info Session Call


Friday, Feb. 9 from Noon - 1pm EST





Monday, Feb. 19: Deadline for applications











A GLOBAL COMPETITION FOR EARLY-STAGE MEDICAL DEVICE AND BIOTECH STARTUPS




The goal of the $200K Challenge is to identify the most promising innovations that will move the needle in healthcare. They will be presented to a group of experts - industry partners, investors, product development experts, regulatory and quality experts, and medical, academic and business experts. The applicants whose innovations are deemed best will be awarded with in-kind services to advance their technologies.




The $200K Challenge is being sponsored by Johnson & Johnson Innovation, the Massachusetts Life Sciences Center, Amgen, Boston Scientific, Mintz Levin, MPR and R&Q.



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Innovative phase-0 proof-of-concept center continues advancement 
 of commercially promising biomedical innovations.

The Center for Biotechnology at Stony Brook University, on behalf of the Long Island Bioscience Hub (LIBH), announced the recipients of the fourth round of funded projects under the Hub’s technology development and commercialization initiative. Funding for five projects totaling $400,000 has been awarded to applicants from the Hub’s partner institutions. Partner institutions include Stony Brook University, Cold Spring Harbor Laboratory, Brookhaven National Laboratory, and the Feinstein Institute for Medical Research at Northwell Health. Over the last two years, more than $2.5M has been awarded to further the development of commercially promising technologies.

There are two categories of awards under the LIBH funding initiative – Feasibility and Proof-of-Concept. “Feasibility awards” are funded at up to $50,000 and designed to rapidly test the feasibility of new ideas in a “fail-fast-or-proceed” format, or to add value to existing intellectual property leading to new market applications. Proof-of-Concept awards provide up to $100,000 for targeted, milestone driven support for further development, testing, and analysis of existing intellectual property.

In this cycle, two feasibility awards have been given to Stony Brook University researchers exploring technologies that include a novel anti-fungal for life threatening blood infections and a new computational method for macrocyclic drug discovery. Proof-of-Concept projects this cycle include a drug-sensitive and drug-resistant TB combination therapy, a novel therapeutic for the treatment of colorectal cancer, and a next-generation medical imaging tool with applications in mammography.

“While the Long Island Bioscience Hub is only two‐years in existence, it has already had major impacts including the establishment of four companies.” said Clinton T. Rubin, Ph.D., Distinguished Professor, Chair, Department of Biomedical Engineering, and Director, Center for Biotechnology. “Additionally, this round of funding further enhances the LIBH-REACH pipeline that already has resulted in eight patent applications, five options/licenses and more than forty SBIR/STTR applications related to REACH technologies and small business clients.”

“I applaud the efforts of the Long Island Bioscience Hub as they continue to draw out the cutting edge biomedical innovations that exist within our research labs and their work with faculty innovators and the local bioscience community to accelerate commercial development.” said Dr. Richard Reeder, Vice President for Research at Stony Brook University. “Stony Brook University is deeply committed to the translation of basic research and the Hub’s successes demonstrate that we need to continue to foster the activities of the Hub.”

The technology development awards made available by the LIBH are specifically aimed at growing a pipeline of commercially promising biomedical technologies that can be out-licensed for further development or serve as the foundation for new company formations in the region. The main goal of the LIBH is to foster the development of therapeutics, preventatives, diagnostics, devices and research tools emerging from LIBH partner institutions that address diseases within the NIH’s mission.

Funded Projects –May 2017 Awards


“A Small Molecule Drug for the Treatment of Systemic Candidiasis” Nicolas Carpino, PhD and Jarrod French, Stony Brook University – Feasibility Award


“BRIKARD, a Program for Macrocyclic Drug Discovery” Evangelos Coutsias, PhD, Stony Brook University – Feasibility Award


“Selenium multi-Well Avalanche Detectors for Medical Imaging Applications” Amirhossein Goldan, PhD, Stony Brook University – Proof of Concept Award


“Developing Novel miR-129 Mimic Based Therapeutics for Colorectal Cancer” Jingfang Ju, PhD, Stony Brook University – Proof of Concept Award


“Azasteroid for Combination anti-TB Therapy” Nicole Sampson, PhD, Stony Brook University – Proof of Concept Award

Download a PDF of the press release here.
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The Center for Biotechnology and its accelerator programs have been instrumental in assisting IAMBIC with their SBIR pursuits and commercialization development. 





Read more about IAMBIC and their recent funding here.


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CFB Client IAMBIC Receives $1 Million NSF SBIR Phase II Grant

July 30, 2024

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A Global Competition For Early-Stage Medical Device And Biotech Startups

February 7, 2018

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Long Island Bioscience Hub Announces Latest Funded Projects

June 6, 2017

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