Author Archives: Center for Biotechnology

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

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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.

UPDATE for Life Sciences Companies from Empire State Development (ESD)

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Objective
The Life Sciences Research and Development Tax Credit Program is designed to support new life sciences businesses locating, inventing, commercializing and producing in New York State.

Overview
Program Highlights
Program credits of $10 million per year can be allocated and used to encourage new businesses to conduct their research and development in the State.

Qualified life sciences companies may be eligible to receive a fully refundable credit based on qualified research and development expenditures incurred in New York State (NYS). The credit is 15 percent for a company that employs 10 or more persons and 20 percent for a company that employs 10 or less.

The credit is allowed for up to three consecutive years beginning with the first taxable year on or after January 1, 2018 during which the qualified life sciences company meets the eligibility criteria. The credit is capped at $500,000 per year for a lifetime cap of $1.5 million.

Eligibility
The Program is available to a new business entity that devotes the majority of its efforts to the various stages of research, development, technology transfer and commercialization related to any life sciences field.

Life sciences means agricultural biotechnology, biogenerics, bioinformatics, biomedical engineering, biopharmaceuticals, academic medical centers, biotechnology, chemical synthesis, chemistry technology, medical diagnostics, genomics, medical image analysis, marine biology, medical devices, medical nanotechnology, natural product pharmaceuticals proteomics, regenerative medicine, RNA interference, stem cell research, medical and neurological clinical trials, health robotics and veterinary science.

Research and development expenditures are defined as qualified research expenses of the federal research and development tax credit [Section 41(b) of the internal revenue code] incurred in New York State on or after January 1, 2018. Qualified expenditures do not include contract research expenses.

A qualified life sciences company must be a new business.

Application materials are now posted: https://esd.ny.gov/life-sciences-tax-credit-program

https://esd.ny.gov/industries/biotech-and-life-sciences

Celmatix awarded $4.5M to expand in NYS

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Celmatix, a next-generation women’s health company, has been awarded $4.5 million from Empire State Development’s New York City Regional Economic Development Council (REDC), to expand its headquarters in Manhattan.

Piraye Yurttas Beim, PhD, Founder and CEO of Celmatix stated “New York State has been there for Celmatix every step of the way as we’ve transitioned from ambitious startup to innovative next generation women’s health company. From the training I received through New York State’s Center for Biotechnology program at Stony Brook University, to the support we received from the Empire State Development START-UP New York program when it was time to build our first lab, and now, with this award as we prepare to take the next step in the evolution of our company, we are honored to have continued support to grow and thrive in New York.”

Additional Articles: pharmiweb

CFB Recruiting for Asst. Director of Tech & Business Development

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The Center for Biotechnology is looking for a demonstrated leader to join our team as the Assistant Director for Technology and Business Development. Ideal candidates will have knowledge of the bioscience technology development and commercialization process as well as proven experience in bioscience research, technology development, business development, investment. It is preferred that candidates hold a Master’s Degree, PhD, or JD. Full job description and application requirements can be found here, or by searching the “Stony Brook at Work” site for Job #1703516. Posting closes on January 18, 2018.

Entrepreneurship Training Program from NIH & CDC: I-Corps

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Funding Opportunity Now Available for 2018 Summer Cohort of I-Corps at NIH

Did you know that the NIH and CDC offer entrepreneurship training program for small businesses?

I-Corps at NIH is an experience-based program designed specifically for small biotech businesses. Through this 8-week program, you will learn how to build a strong business model that could help bring your technology to patients.

The Funding Opportunity Announcement (FOA) for 2018 Summer Cohort of I-Corps at NIH is now available: PA-18-517. More information sessions will be available in early 2018 to help you better understand the program. In the meantime, please refer to the following resources to learn more about the program:

  • FOA: PA-18-517
  • Application due date: March 5, 2018, by 5 PM local time
  • Cohort schedule: June – August 2018
  • Program Information: I-Corps at NIH Program Page
  • Recordings of previous info sessions: Webinar Materials page

If you have any questions about the program, please contact NCI SBIR (ncisbir@mail.nih.gov).