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

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

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Governor Kathy Hochul has unveiled plans for New York BioGenesis Park, a groundbreaking $430 million Cell and Gene Therapy (CGT) Innovation Hub in Nassau County, Long Island. To be developed by The Albanese Organization, Inc., this state-of-the-art facility would catalyze CGT research, development, clinical manufacturing, and commercialization across New York State. With a historic $150 million state investment—the largest nationwide for a cell and gene therapy hub—NYBGP would accelerate the delivery of new therapies from lab to patient in New York's diverse communities. This transformative hub aims to establish New York as the leading global destination for CGT innovation, driving economic growth, attracting top talent, and revolutionizing patient care statewide and beyond.

The Center for Biotechnology is thrilled to be counted as a partner in this effort, and is looking forward to working with our colleagues in the initiative to help catalyze and accelerate life-changing therapies.

New York BioGenesis Park is envisioned as a cutting-edge, full-service campus dedicated to advancing cell and gene therapies and accelerating their commercialization. At full build-out, the 700,000-square-foot park would create an end-to-end Cell and Gene Therapy innovation and supply center, featuring interconnected areas for public engagement, research, manufacturing, and collaboration.

A cornerstone of New York BioGenesis Park is its incubator, supported by a $50 million investment from ESD's Long Island Investment Fund. This facility will empower early-stage therapeutic developers by offering state-of-the-art wet lab space, shared equipment, office space, and other essential resources. This nurturing environment would provide Cell and Gene Therapy companies with access to specialized equipment, mentoring, and stage-appropriate financial guidance. As a critical component of New York BioGenesis Park, the incubator is poised to catalyze the growth of promising Cell and Gene Therapy companies by providing them with resources and support, unlocking their potential for innovation and success.

New York BioGenesis Park would foster strong ties with academic and medical institutions throughout New York, creating a robust ecosystem for Cell and Gene Therapy innovation. Collaborating with the Empire State Cellular Therapy Consortium and world-class institutions like Cold Spring Harbor Laboratory, the Feinstein Institutes, Northwell Health, Roswell Park, Stony Brook University, Weill Cornell, Columbia University and others around the state, New York BioGenesis Park would enhance research synergies and accelerate medical breakthroughs. This ecosystem would bring together experts in advanced Cell and Gene Therapy therapies, offering specialized facilities, services, and resources to both tenants and collaborating institutions. By facilitating cutting-edge science, innovative technology development and novel approaches to clinical trials, New York BioGenesis Park would ensure New York's institutions remain globally competitive in groundbreaking Cell and Gene Therapy research and commercialization.

Read the press release of Governor Hochul's announcement here:
https://www.governor.ny.gov/news/governor-hochul-launches-next-phase-long-islands-nation-leading-cell-and-gene-therapy

[post_title] => Long Island to be location for Nation-Leading Cell and Gene Therapy Innovation Hub: New York BioGenesis Park. [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => long-island-to-be-location-for-nation-leading-cell-and-gene-therapy-innovation-hub-new-york-biogenesis-park [to_ping] => [pinged] => [post_modified] => 2024-12-05 11:35:07 [post_modified_gmt] => 2024-12-05 16:35:07 [post_content_filtered] => [post_parent] => 0 [guid] => https://centerforbiotechnology.org/?p=4488 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [1] => WP_Post Object ( [ID] => 3269 [post_author] => 3 [post_date] => 2019-06-10 15:25:24 [post_date_gmt] => 2019-06-10 15:25:24 [post_content] => The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Program recently hosted a webinar to assist interested applicants with understanding proposal preparation, federal guidelines and resources, the funding process, and address general concerns. The webinar presentation, recording, and transcript are now available (via web and attachments) for your reference. (Please be advised, an automated transcription service was used, and there may be grammatical errors and typos in the transcript.) We have done our best to correct as many errors as possible, but you are encouraged to reach out to us by email at sbir@od.nih.gov if anything remains unclear. - Webinar SlidesRecording - Transcript HHS SBIR and STTR Omnibus grant solicitations permit researcher-initiated topics around health, medicine and life science to be submitted for funding consideration. With any specific idea, you should speak directly with a HHS SBIR/STTR program manager at least a month BEFORE the deadline to gauge their interest. You can find the HHS SBIR/STTR Omnibus Solicitations, and all of other SBIR/STTR solicitations on the Funding page of the SBIR/STTR Website: https://sbir.nih.gov/funding. Be sure to also check the targeted funding announcements page, https://sbir.nih.gov/funding/individual-announcements. NIH Institutes and Centers will issue targeted SBIR/STTR grant solicitations around specific, high-priority research areas. The next submission deadline is September 5, 2019. [post_title] => SBIR/STTR Omnibus Webinar Recording, Transcript, and Slides Available [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => sbirsttr-omnibus-webinar-recording-transcript-and-slides-available [to_ping] => [pinged] => [post_modified] => 2019-06-10 15:25:24 [post_modified_gmt] => 2019-06-10 15:25:24 [post_content_filtered] => [post_parent] => 0 [guid] => https://centerforbiotechnology.org/?p=3269 [menu_order] => 94 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [2] => WP_Post Object ( [ID] => 2180 [post_author] => 3 [post_date] => 2016-05-03 18:24:23 [post_date_gmt] => 2016-05-03 18:24:23 [post_content] => The Center for Biotechnology has announced the recipients of the 2016-2017 Applied Research & Development (ARAD) awards. The ARAD Program is designed to help bridge the gap between the early-stage technology discovery and development capabilities of the academic community and the later-stage commercial development interests of the bioscience industry. The program currently provides matching funds on a competitive basis to support collaborations between Stony Brook University faculty and NY State corporate partners in all areas of medical biotechnology. The primary interest is in supporting development of technologies that will help companies hit commercially relevant milestones, and that have the potential to positively impact the New York State economy. The projects funded include:
  • ICU Temporary Pacemaker - Dr. Wei Lin and Avery Biomedical Device, Inc.
  • Novel Synergistic and Pleiotropic Skin Brightening Agents - Dr. Sanford Simon and Biocogent, LLC
  • Continued In vivo Testing of Vaccine Candidates - Dr. Eckard Wimmer and Cogadenix, Inc.
  • Advanced Fistula-in-Ano Treatment Device - Dr. Tom Zimmerman and Pepper5, Inc.
  • Development of Nanoemulsion-PUFA-taxoids as Tumor-Targeted Chemotherapeutics - Dr. Iwao Ojima and TargaGenix, Inc.
  • Initial Pre-Clinical Safety Assessment of TRB-N0224 - Dr. Lorne Golub and Traverse Biosciences, Inc.
  • Evaluation of a Continuous Visible Light Disinfection System's Ability to Reduce Bioburden and Subsequently the Incidence of Infections and Colonizations in an Active Patient Area - Dr. Annie Rohan and Vital Vio, Inc.
More information about the Applied Research & Development (ARAD) program, as well as all Center for Biotechnology Technology Development programs can be found here. [post_title] => Applied Research and Development Awards Announced [post_excerpt] => The Center for Biotechnology has announced the recipients of the 2016-2017 Applied Research & Development (ARAD) awards. Matching funds have been awarded to seven projects in support of collaborations between Stony Brook University faculty and NY State corporate partners in all areas of medical biotechnology. [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => applied-research-and-development-awards-announced [to_ping] => [pinged] => [post_modified] => 2016-05-06 18:19:05 [post_modified_gmt] => 2016-05-06 18:19:05 [post_content_filtered] => [post_parent] => 0 [guid] => http://centerforbiotechnology.org/?p=2180 [menu_order] => 183 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 4368 [post_author] => 4 [post_date] => 2024-01-18 12:28:20 [post_date_gmt] => 2024-01-18 17:28:20 [post_content] =>

The Center for Biotechnology on behalf of the Long Island Bioscience Hub is pleased to announce a request for proposals for our two-tiered technology development & commercialization program. Awards will be in two categories: Feasibility ($50k/12mo) and Proof of Concept ($100K/12 mo).  More information can be found thru this link (or view on CfB web-page)… 

Review the full funding program overview and proposal guidelines

Stony Brook University faculty and postdoctoral associates, alone or in partnership with companies or CFB-appointed BioEntrepreneurs-in-Residence (BEIRs), are eligible to apply. In all instances, the faculty member or post-doctoral associate must serve as the principal investigator, and the project must be executed on the academic campus at Stony Brook University.

Application Deadline: March 7, 2024 no later than 5pm.

Interested applicants are strongly recommended to connect with the Center for Biotechnology team before writing a full proposal and submission.  
Please contact Phuong Nguyen, PhD, at the Center for Biotechnology: phuong.t.nguyen@stonybrook.edu.

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Governor Kathy Hochul has unveiled plans for New York BioGenesis Park, a groundbreaking $430 million Cell and Gene Therapy (CGT) Innovation Hub in Nassau County, Long Island. To be developed by The Albanese Organization, Inc., this state-of-the-art facility would catalyze CGT research, development, clinical manufacturing, and commercialization across New York State. With a historic $150 million state investment—the largest nationwide for a cell and gene therapy hub—NYBGP would accelerate the delivery of new therapies from lab to patient in New York's diverse communities. This transformative hub aims to establish New York as the leading global destination for CGT innovation, driving economic growth, attracting top talent, and revolutionizing patient care statewide and beyond.

The Center for Biotechnology is thrilled to be counted as a partner in this effort, and is looking forward to working with our colleagues in the initiative to help catalyze and accelerate life-changing therapies.

New York BioGenesis Park is envisioned as a cutting-edge, full-service campus dedicated to advancing cell and gene therapies and accelerating their commercialization. At full build-out, the 700,000-square-foot park would create an end-to-end Cell and Gene Therapy innovation and supply center, featuring interconnected areas for public engagement, research, manufacturing, and collaboration.

A cornerstone of New York BioGenesis Park is its incubator, supported by a $50 million investment from ESD's Long Island Investment Fund. This facility will empower early-stage therapeutic developers by offering state-of-the-art wet lab space, shared equipment, office space, and other essential resources. This nurturing environment would provide Cell and Gene Therapy companies with access to specialized equipment, mentoring, and stage-appropriate financial guidance. As a critical component of New York BioGenesis Park, the incubator is poised to catalyze the growth of promising Cell and Gene Therapy companies by providing them with resources and support, unlocking their potential for innovation and success.

New York BioGenesis Park would foster strong ties with academic and medical institutions throughout New York, creating a robust ecosystem for Cell and Gene Therapy innovation. Collaborating with the Empire State Cellular Therapy Consortium and world-class institutions like Cold Spring Harbor Laboratory, the Feinstein Institutes, Northwell Health, Roswell Park, Stony Brook University, Weill Cornell, Columbia University and others around the state, New York BioGenesis Park would enhance research synergies and accelerate medical breakthroughs. This ecosystem would bring together experts in advanced Cell and Gene Therapy therapies, offering specialized facilities, services, and resources to both tenants and collaborating institutions. By facilitating cutting-edge science, innovative technology development and novel approaches to clinical trials, New York BioGenesis Park would ensure New York's institutions remain globally competitive in groundbreaking Cell and Gene Therapy research and commercialization.

Read the press release of Governor Hochul's announcement here:
https://www.governor.ny.gov/news/governor-hochul-launches-next-phase-long-islands-nation-leading-cell-and-gene-therapy

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Long Island to be location for Nation-Leading Cell and Gene Therapy Innovation Hub: New York BioGenesis Park.

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