Whether your personal interests are in supporting innovation, bringing lifesaving biomedical products to patients, training the next generation of biomedical leaders or fueling our economy, the Center for Biotechnology provides a vehicle to accomplish great things. Things that matter. Things that change, and save, lives.
Your involvement is an essential part of our future. Please consider a gift to the Center for Biotechnology which will help fuel innovation by ensuring that lifesaving technologies make it out of research labs and into the hands of patients.
Give to the Center for Biotechnology online through the Stony Brook Foundation. Contributions can be made to our Fund for Excellence. More information about donating through the Stony Brook Foundation can be found here.
Getting Serious About BioEntrepreneurship in New York
May 19, 2017
Center for Biotechnology BioEntrepreneur-in-Residence and Founder and CEO of Traverse Biosciences, Joseph Scaduto, recently penned a powerful article discussing the importance of human capital to the growth and sustainability of New York’s bioscience ecosystem.
“…the prospect of “jumping ship” into a new bioscience venture is not just risky, it is downright scary, if not financially impossible, exacerbated further by the frightening lack of alternative job opportunities in the high-probability event of failure. In my opinion, this seemingly insurmountable and geographic “barrier to entry,” defined by the comparatively excessive risk of bioentrepreneurship, is a primary reason why New York continues to struggle to develop, cultivate and grow a vibrant, dynamic and self-sustaining bioscience industry cluster.”
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.
[post_title] => Center for Biotechnology Announces Redesignation as New York State Center for Advanced Technology
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[post_content] => Traverse Biosciences, founded by the Center's first appointed BioEntrepreneur-in-Residence Joseph Scaduto, was just awarded a $205,709, Phase I Small Business Technology Transfer (STTR) Award in Partnership with the School of Dental Medicine at Stony Brook University, to evaluate the effectiveness of the company's lead drug candidate for the treatment of periodontal disease. This is the second Phase I STTR award for Traverse Biosciences this year. 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.
"I congratulate Traverse Biosciences on securing a second STTR award to advance their product development and commercialization efforts," stated Dr. Clinton Rubin, Director of the New York State Center for Biotechnology at Stony Brook University. He added, "STTR funding represents a significant milestone for graduates of our burgeoning BioEntrepreneur-in-Residence program, which is meant to impact the innovation economy and entrepreneurial ecosystem in the region."
A full press release can be found here:http://www.traversebiosciences.com/pr150126perio.html
[post_title] => Traverse Biosciences receives $205,709 Phase I STTR Award
[post_excerpt] => Traverse Biosciences, founded by the Center's first appointed BioEntrepreneur-in-Residence Joseph Scaduto, was just awarded a $205,709, Phase I Small Business Technology Transfer (STTR) Award in Partnership with the School of Dental Medicine at Stony Brook University
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[post_content] => 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.
OverviewProgram 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-programhttps://esd.ny.gov/industries/biotech-and-life-sciences
[post_title] => UPDATE for Life Sciences Companies from Empire State Development (ESD)
[post_excerpt] => Empire State Development's 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. 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.
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Save the date to join us in New York City for the expanded, two-day Life Sciences Summit™ 2024! Visit lifesciencessummit.org for program & registration updates.
[post_title] => Save the Date! LSS 2024: October 8-9th!
[post_excerpt] => Save the date to join us in New York City for the expanded, two-day Life Sciences Summit™ 2024!
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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.
