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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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[post_content] => On Thursday May 4, 2017 Center for Biotechnology Director Dr. Clinton Rubin was fortunate to testify at a joint congressional hearing on "Improving the Small Business Innovation Research and Small Business Technology Transfer Programs”. Dr. Rubin was present to discuss the NIH-REACH Program - which is the program that supported the creation of the Long Island Bioscience Hub.
Dr. Rubin spoke about the importance of initiatives like REACH which promote the development of “Phase 0” proof-of concept centers embedded within university communities. The activities of these centers are critical in promoting under-realized innovations out of academic labs and into the hands of patients as Universities often face significant challenges when it comes to commercializing translational research. He talk about the fact that in a very short amount of time, the three hubs created by the REACH program have already seen major impacts at our institution, fostering new intellectual property, increasing credibility with the investor community, promoting a shift in the academic culture, attracting new licensing opportunities, and most importantly, catalyzing the formation of new companies – some of which have successfully secured SBIR funding.
Programs like REACH fuel the growth of the small business community around university centers, and drives science towards successful new treatments for disease.
The committee hearing is available to view at this link. Dr. Rubin’s comments begin at 2:53:06
[caption id="attachment_2684" align="alignleft" width="300"]
CFB Director Clint Rubin and Director of Operations Diane Fabel at a joint congressional hearing on May 4, 2017.[/caption]
[post_title] => CFB Director Testifies Before Joint Congressional Hearing
[post_excerpt] => Dr. Rubin Dr. Clinton Rubin discussed the NIH-REACH Program and the Long island Bioscience Hub at a recent joint congressional hearing on "Improving the Small Business Innovation Research and Small Business Technology Transfer Programs”.
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[post_content] => The latest CFB Newsletter has been released - Catch up on client financings, newcos, expansions, and other happenings here.
Be sure to follow us on Twitter, LinkedIn and Facebook for the latest Center news.
[post_title] => Summer 2017 Newsletter
[post_excerpt] => The latest CFB Newsletter has been released - Highlights include major client funding and contracts, the expansion of the LIBH pipeline, and CFB leadership appearing before congress to promote comprehensive, early technology development programs.
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[post_content] => Biotechnology Strategist Brian McCarthy and Pharma Executive Gian Luca Araldi
selected to launch new bioscience companies
STONY BROOK, N.Y. – November 23, 2015 – The Center for Biotechnology at Stony Brook University announced today the appointment of Brian McCarthy, PhD and Gian Luca Araldi, PhD, as BioEntrepreneurs-In-Residence (B-EIR) for the Long Island Bioscience Hub. The Long Island Bioscience Hub is a National Institutes of Health-designated Research Evaluation and Commercialization Hub, and represents a partnership between Stony Brook University, Cold Spring Harbor Laboratory, and Brookhaven National Laboratory, to commercialize technology emerging from their institutions.
Drs. McCarthy and Araldi have broad bioscience industry experience and comprehensive knowledge of commercializing academic technologies. In their roles as BEIR they will identify technologies that have the potential to support company formation in the region. Each brings unique skills and perspectives to technology assessment and bioscience-startups.
Dr. McCarthy is a senior biotechnology strategist with operational, start-up, development, and financial expertise. He currently serves as a business advisor to Gismo Therapeutics Inc. and VP of Business and Clinical Development at Viatar CTC Solutions Inc. Prior to his Wall Street and entrepreneurial career, Dr. McCarthy was a faculty member at Cornell University Medical College and the National Naval Medical Center. Dr. McCarthy received his PhD in Neurobiology from Stony Brook University.
Dr. Araldi is a pharmaceutical and biotechnology executive with more than 25 years of experience ranging from basic research through clinical development at major pharmaceutical companies including Glaxo, Forest Laboratories and Merck-Serono. Dr. Araldi has been involved in the development of key medicines such as Teflaro®, Dutogliptin®, Gavestinel®, Sanfetrinem® and Sanfetrinem® Cilexetil and is the inventor of 113 granted patents. Dr. Araldi received doctorate degrees in Organic Chemistry and Pharmacy from the University of Parma (Italy) and recently received his M.B.A. in Finance from Long Island University Post.
“The Long Island Bioscience Hub is excited to announce the appointments of Drs. McCarthy and Araldi as BioEntrepreneurs-in-Residence” Diane Fabel, Director of Operations for the Center for Biotechnology stated. “They join a talented roster of five existing BioEntrepreneurs in Residence at the Center for Biotechnology who are well on their way to commercializing technologies and building their companies.”
As B-EIRs Drs. McCarthy and Araldi are tasked with identifying technology or technologies from within the partner institutions that will create the foundation for licensing and company formation. They will have the support of the LIBH business and technology development staff, as well as the support of external industry advisors to develop successful commercialization strategies. The LIBH can also provide access to a competitive pool of technology development funding to help move their technologies down a commercial pathway. Ultimately, the goal is to help the company position itself prepare for SBIR/STTR grant opportunities, and Angel and VC investment.
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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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