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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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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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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 will 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] => 2025-02-26 16:35:20 [post_modified_gmt] => 2025-02-26 21:35:20 [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 ) [2] => WP_Post Object ( [ID] => 3428 [post_author] => 3 [post_date] => 2020-01-22 14:42:19 [post_date_gmt] => 2020-01-22 14:42:19 [post_content] => IO360˚ convenes stakeholders spanning the science and business communities to report on the latest data impacting immuno-oncology to fight a wider range of cancers. The 6th annual Immuno-Oncology 360° Summit is the premier meeting across all stakeholders in IO, addressing the rapid advancements of clinical, scientific and business developments of IO in one setting to help develop therapeutics for a wider range of cancers at an accelerated rate. The 3 day summit features more than 80 time sensitive IO topics, over 500 senior level thought leaders and includes over 10 hours of networking. Use the code CFB20 for a 20% discount. For more information please visit: www.io360summit.com [post_title] => Immuno-Oncology 360˚ - February 26-28, 2020 [post_excerpt] => IO360˚addresses the rapid advancements of clinical, scientific and business developments of IO. Discount registration available for CFB constituents. [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => immuno-oncology-360%cb%9a-february-26-28-2020 [to_ping] => [pinged] => [post_modified] => 2020-01-22 14:42:19 [post_modified_gmt] => 2020-01-22 14:42:19 [post_content_filtered] => [post_parent] => 0 [guid] => https://centerforbiotechnology.org/?p=3428 [menu_order] => 77 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 4957 [post_author] => 4 [post_date] => 2026-01-06 14:16:00 [post_date_gmt] => 2026-01-06 19:16:00 [post_content] =>

Dr. Gurtej Singh, Research Associate Professor of Surgery at the Renaissance School of Medicine, was awarded seed funding through the SUNY Technology Accelerator Fund (TAF) to advance DEVA — a vascularized, shelf-stable skin substitute for advanced wound care. This bio-printed, multilayered construct integrates embedded vascular networks and antimicrobial features to enhance healing for chronic and hard-to-treat wounds — with the potential to shorten healing timelines and improve patient outcomes.

Additionally, Dr. Anurag Purwar, associate professor in the Department of Mechanical Engineering in Stony Brook’s College of Engineering and Applied Sciences, was one of four SUNY Mission TAF awardees for his research, MotionGen — An AI Platform for Intelligent Mechanism Design in Robotics. Purwar is launching an enterprise version of MotionGen, a cloud-based AI platform that automates the robot mechanism design, reducing costs and improving quality through enhanced visualization and intelligent synthesis tools.

The SUNY TAF supports early-stage innovations with strong commercial potential, helping faculty move technologies from the lab toward real-world impact. This funding — part of a competitive award portfolio — underscores how translational research at Stony Brook continues to bridge discovery science and high-impact biotechnology solutions. Read more about these innovators and the TAF awards on SBU News.

[post_title] => Stony Brook Researchers Secure Seed Funding from SUNY TAF [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => stony-brook-researchers-secure-seed-funding-from-suny-taf [to_ping] => [pinged] => [post_modified] => 2026-03-16 14:18:37 [post_modified_gmt] => 2026-03-16 18:18:37 [post_content_filtered] => [post_parent] => 0 [guid] => https://centerforbiotechnology.org/?p=4957 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [4] => WP_Post Object ( [ID] => 2417 [post_author] => 3 [post_date] => 2016-10-07 13:15:28 [post_date_gmt] => 2016-10-07 13:15:28 [post_content] => Vitatex, a Stony Brook-based biotechnology company located in the Long Island High Technology Incubator, has announced that it was awarded an SBIR Phase I/II Fast Track contract in September 2015 from the National Cancer Institute (NCI) for its Vita-Cap™ CTC Capture and Preservation tubes. A modification to exercise the option for a two-year SBIR Phase II of the contract was executed on June 8, 2016. Vitatex Inc. provides proprietary invasive circulating tumor cell (iCTC) enrichment technology and products to develop revolutionary cancer genetic and cell tests. These "liquid biopsies" focus on next generation sequencing (NGS) detection, gene expression profiling and flow cytometry and have recently been adopted by the clinical laboratory community to characterize cancer cells and/or their RNA/DNA in blood samples non-invasively and serially, and to acquire genetic alternations and drug resistance information, which have the potential to replace tests run on surgical biopsies. Clinical metastasis of solid tumors is linked to blood-borne dissemination of viable tumor cells in the circulation and clinical instrumentation is now available to isolate, enumerate, culture, generate metastatic mouse models and perform molecular analyses on these circulating tumor cells (CTCs). However, CTCs are fragile and tend to degrade within a few days when collected in standard blood collection tubes. "The functional CTC preparation tube is designed to collect, enrich and preserve the viability/functionality of cancer cells in blood all within a closed system" said Wen-Tien Chen, PhD., Chief Scientific Officer of Vitatex. "The goal is to define conditions of Vitatex CTC preparation tubes for capturing and preserving cancer cells in the blood of patients with breast, ovarian and other types for up to 96 hours of transit." Specific terms of the contract were not disclosed. [post_title] => Vitatex Awarded NCI Contract [post_excerpt] => Stony Brook biotech company, Vitatex, has announced it was awarded an NCI Contract for Circulating Tumor Cell (CTC) Capture and Preservation Tubes. [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => vitatex-awarded-nci-contract [to_ping] => [pinged] => [post_modified] => 2016-12-06 15:12:47 [post_modified_gmt] => 2016-12-06 15:12:47 [post_content_filtered] => [post_parent] => 0 [guid] => http://centerforbiotechnology.org/?p=2417 [menu_order] => 164 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) ) [post_count] => 5 [current_post] => -1 [before_loop] => 1 [in_the_loop] => [post] => WP_Post Object ( [ID] => 4906 [post_author] => 4 [post_date] => 2025-07-17 10:27:09 [post_date_gmt] => 2025-07-17 14:27:09 [post_content] =>

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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Center for Biotechnology Announces Redesignation as New York State Center for Advanced Technology

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