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The Redesignation brings $10 million in funding to drive innovation, company formation, and economic growth.
The Center for Biotechnology (CFB) has announced its re-designated as a Center for Advanced Technology (CAT) by Empire State Development's Division of Science, Technology and Innovation (NYSTAR), a recognition that comes with $1 million in annual funding over the next ten years. The $10 million commitment underscores the CFB’s leadership in accelerating life science innovation, supporting early-stage technology development, and fueling economic growth through start-up formation and industry partnerships.
“The Center for Biotechnology has served as a critical bridge between academic research and commercial success,” said Dr. Clinton Rubin, Director of the Center for Biotechnology. “This re-designation ensures we can continue to expand our impact, helping innovators bring breakthrough technology to market and strengthening New York’s position as a leader in the bioscience industry.”
Empire State Development President, CEO and Commissioner Hope Knight said, “NYSTAR’s Centers for Advanced Technology are vital to our strategic efforts to grow New York’s economy and the state’s greater innovation ecosystem. By investing in the industries of tomorrow, New Yorkers benefit today through dynamic partnerships that help to create new jobs, generate more revenues, and encourage more companies to establish a footprint in communities all throughout the state.”
The Center for Biotechnology is located on the campus of Stony Brook University (SBU), the flagship research institution within the prestigious State University of New York (SUNY) system. Stony Brook University is recognized as a national and global leader in life sciences research, biomedical innovation, and clinical care. Situated on Long Island, New York, Stony Brook has built a formidable reputation as a hub for cutting-edge scientific discovery and translational medicine. The Center for Biotechnology builds upon these strengths by providing cutting-edge programming and competitive financial support to advance biomedical innovation and emerging company growth.
“We are excited to build upon the successful foundation of strong entrepreneurial networks, infrastructure, and programming that we have built over the last four decades” said Dr. Diane Fabel, Chief Operating Officer at the Center for Biotechnology. “The impacts we have had during our last designation period include over $1B in total economic impact with more than 1000 jobs created, and driving more than $315M in follow-on funding. We are excited to see those numbers continue to grow when we celebrate fifty years of hard work at the end of this redesignation period”.
As part of the New York State CAT program, the CFB will continue to work with emerging and established companies across the state to de-risk early-stage technologies, advance both technology and company value, foster public-private collaboration, and provide critical infrastructure for the region’s growing life science ecosystem. Additionally, the CFB team will continue its efforts to develop a life sciences workforce to support the region's bio-innovation economy with a specific emphasis on sectors deemed important to the NYS economy.
Dowload the full press release here.
[post_title] => Center for Biotechnology Announces Redesignation as New York State Center for Advanced Technology
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[post_content] => The Long Island Bioscience Hub (LIBH) is seeking experienced BioEntrepreneurs-in Residence (BEIRs) to launch new bioscience ventures in the Long Island, New York region. Company formation will be based upon commercially promising biomedical technologies emerging from Stony Brook University (SBU), Cold Spring Harbor Laboratory and Brookhaven National Laboratory.
To help facilitate this process, the LIBH will provide:
- modest retainer/milestone payments to BEIRs for a predetermined period of time
- access to technology development funding on a competitive basis
- senior staff support to assist with commercialization strategies
- office space
- access to experienced industry advisors
- introductions to investors and professional services
BEIRs will also have access to the resources of the LIBH including: faculty expertise, core research and engineering facilities, libraries, business incubators, the 245-acre Research Park, and a suite of end-to-end economic development programs. BEIRs will be responsible for evaluation of biomedical technologies available for license from LIBH partner institutions. BEIRs will ultimately select specific technologies to form the basis of a company, and will be required to develop detailed commercialization strategies, business plans and investor presentations. BEIRs will negotiate and execute option and/or license agreements with LIBH partner institutions as may be appropriate, secure capital from both public and private sources, and exit the BEIR program to lead the Long Island- based company as CEO. BEIRs will also provide guidance to entrepreneurial faculty members and participate in technology reviews and other meetings as deemed appropriate.
The most compelling BEIR candidate(s) will possess domain expertise and technical proficiency in the life sciences or engineering, as well as business acumen and industry experience, particularly in early stage technology commercialization, new venture creation, and fundraising. Advanced degree in life sciences, engineering, business and/or law are preferred. Terms of engagement dependent upon individual circumstances. BEIRs will report to the Center for Biotechnology Advisory Board.
Interested parties should contact to Eleanor Allen, with a statement of interest and resume. Inquiries will be considered on a rolling basis until appropriate candidates are identified.
The LIBH, was established by the Center for Biotechnology (CFB), a New York State Center for Advanced Technology, in collaboration with Stony Brook University, Cold Spring Harbor Laboratory, and Brookhaven National Laboratory, and with additional support provided by the National Institutes of Health REACH initiative (Research Evaluation And Commercialization Hub), Research Foundation for SUNY, and Empire State Development. The LIBH will foster the development of therapeutics, preventatives, diagnostics, devices and research tools emerging from LIBH partner institutions that address diseases within the NIH's mission.
[post_title] => Long Island Bioscience Hub is seeking experienced BioEntrepreneurs-in Residence
[post_excerpt] => The LIBH is seeking experienced BEIRs to launch new bioscience ventures in the Long Island, New York region. Company formation will be based upon commercially promising biomedical technologies emerging from Stony Brook University (SBU), Cold Spring Harbor Laboratory and Brookhaven National Laboratory.
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[post_content] => Traverse Biosciences, founded by Joseph Scaduto - one of the Center for Biotechnology's first BioEntrepreneurs-in-Residence, announced today that it has executed an exclusive, worldwide license agreement with the Research Foundation for the State University of New York (RF/SUNY) for access to the animal health applications of a proprietary library of polyenolic zinc-binding agents. The license agreement also extends Traverse Biosciences the exclusive option to license the human health applications of these promising drug candidates.
The drug compounds were invented by Lorne Golub, DMD, MD (Honorary), Distinguished Professor in the Department of Oral Biology and Pathology in the Stony Brook University School of Dental Medicine, and Francis Johnson, PhD, President of Chem-Master International Inc. and Professor of Chemistry and Pharmacology at Stony Brook. The drugs were developed in concert with the the Center for Biotechnology at Stony Brook University. The Center provided financial support to help the inventors develop their lead compound and for follow-on animal studies.
Click to read the press releases from
Stony Brook University and
Traverse Biosciences.
[post_title] => Traverse Biosciences Executes Exclusive, Worldwide License Agreement
[post_excerpt] => Traverse Biosciences, founded by Joseph Scaduto - one of the Center for Biotechnology's first BioEntrepreneurs-in-Residence, has executed an exclusive, worldwide license agreement with the Research Foundation for the State University of New York (RF/SUNY).
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The Redesignation brings $10 million in funding to drive innovation, company formation, and economic growth.
The Center for Biotechnology (CFB) has announced its re-designated as a Center for Advanced Technology (CAT) by Empire State Development's Division of Science, Technology and Innovation (NYSTAR), a recognition that comes with $1 million in annual funding over the next ten years. The $10 million commitment underscores the CFB’s leadership in accelerating life science innovation, supporting early-stage technology development, and fueling economic growth through start-up formation and industry partnerships.
“The Center for Biotechnology has served as a critical bridge between academic research and commercial success,” said Dr. Clinton Rubin, Director of the Center for Biotechnology. “This re-designation ensures we can continue to expand our impact, helping innovators bring breakthrough technology to market and strengthening New York’s position as a leader in the bioscience industry.”
Empire State Development President, CEO and Commissioner Hope Knight said, “NYSTAR’s Centers for Advanced Technology are vital to our strategic efforts to grow New York’s economy and the state’s greater innovation ecosystem. By investing in the industries of tomorrow, New Yorkers benefit today through dynamic partnerships that help to create new jobs, generate more revenues, and encourage more companies to establish a footprint in communities all throughout the state.”
The Center for Biotechnology is located on the campus of Stony Brook University (SBU), the flagship research institution within the prestigious State University of New York (SUNY) system. Stony Brook University is recognized as a national and global leader in life sciences research, biomedical innovation, and clinical care. Situated on Long Island, New York, Stony Brook has built a formidable reputation as a hub for cutting-edge scientific discovery and translational medicine. The Center for Biotechnology builds upon these strengths by providing cutting-edge programming and competitive financial support to advance biomedical innovation and emerging company growth.
“We are excited to build upon the successful foundation of strong entrepreneurial networks, infrastructure, and programming that we have built over the last four decades” said Dr. Diane Fabel, Chief Operating Officer at the Center for Biotechnology. “The impacts we have had during our last designation period include over $1B in total economic impact with more than 1000 jobs created, and driving more than $315M in follow-on funding. We are excited to see those numbers continue to grow when we celebrate fifty years of hard work at the end of this redesignation period”.
As part of the New York State CAT program, the CFB will continue to work with emerging and established companies across the state to de-risk early-stage technologies, advance both technology and company value, foster public-private collaboration, and provide critical infrastructure for the region’s growing life science ecosystem. Additionally, the CFB team will continue its efforts to develop a life sciences workforce to support the region's bio-innovation economy with a specific emphasis on sectors deemed important to the NYS economy.
Dowload the full press release here.
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