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Traverse Biosciences Secures $500k Seed Financing

Traverse Biosciences has announced that it has secured $500,000 in convertible debt financing to support operations and advance product development efforts. The seed financing was led by Excell Partners, with matching funds from a number of individual accredited angel investors. The Research Foundation for the State of New York (RF/SUNY) also participated in the financing, as part of an exclusive license and option agreement executed last year that gave Traverse Biosciences access to the relevant intellectual property for use in animal and human health.

Traverse Biosciences, which began when CEO Joseph Scaduto was serving as a BioEntrepreneur-in-Residence for the Center for Biotechnology, is working to commercialize its proprietary library of Stony Brook University invented chemically-modified curcumins for the treatment of chronic inflammatory conditions and cancers affecting humans and animals.

Read more about Traverse and the recent financing:

 

 

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Attention Stony Brook University Faculy and Staff: Applications for the second cycle of the President’s Fast Impact Fund (FIF) opened August 3, 2026. Open to all Stony Brook faculty and staff, this special initiative supports immediate-impact projects that can be launched quickly and deliver results within six to ten months.

The FIF provides awards of up to $300,000 focused on low‑investment, high‑reward initiatives that create visible, positive change. Examples of projects that would be considered include specialized equipment or technology acquisitions, pilot programs or proof‑of‑concept initiatives, targeted renovations or seed funding, among other opportunities.

All proposals must include a customized, high-level budget and be endorsed by the relevant vice president or dean with authority to implement the project. Applications for the August cycle will be available beginning August 3 with submissions due Friday, August 21 by 5 pm, ET. Please visit the Fast Impact Fund website for additional information and to submit an application.

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Governor Hochul has launched ESD’s $6 million Innovation Matching Grants Program, which was first proposed in her 2023 State of the State address. This program provides application support and technical assistance to New York companies applying for the federal Small Business Innovation Research and Small Business Technology Transfer grant programs, which incentivize small businesses to engage in research and development with the potential for commercialization.

Under the program, ESD will match up to $100,000 for a successful concept development, or Phase I award, and up to $200,000 for a prototype development, or Phase II award. The Division will also provide technical assistance resources for Phase II and Phase III awardees. Applications and guidelines can be found here: https://esd.ny.gov/innovation-matching-grants-program

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Attention Stony Brook University Faculy and Staff: Applications for the second cycle of the President’s Fast Impact Fund (FIF) opened August 3, 2026. Open to all Stony Brook faculty and staff, this special initiative supports immediate-impact projects that can be launched quickly and deliver results within six to ten months.

The FIF provides awards of up to $300,000 focused on low‑investment, high‑reward initiatives that create visible, positive change. Examples of projects that would be considered include specialized equipment or technology acquisitions, pilot programs or proof‑of‑concept initiatives, targeted renovations or seed funding, among other opportunities.

All proposals must include a customized, high-level budget and be endorsed by the relevant vice president or dean with authority to implement the project. Applications for the August cycle will be available beginning August 3 with submissions due Friday, August 21 by 5 pm, ET. Please visit the Fast Impact Fund website for additional information and to submit an application.

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SBU President’s Fast Impact Fund (FIF)

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CFB Selected as DRIVe Accelerator

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Summer 2017 Newsletter

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NY Governor Launches $6 Million Innovation Matching Grant Program to Support Small Businesses Participating in SBIR/STTR Programs 

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