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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.
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The Center for Biotechnology has announced the appointment of Dr. Louis A. Peña as Director of the new Program in Life Sciences Innovation and Entrepreneurship. Additionally, Dr. Peña has been appointed as Associate Professor of Practice in the Department of Biomedical Engineering and the College of Business at Stony Brook University.
The Professor of Practice will steward the University’s Advanced Graduate Certificate in Life Science Innovation and Entrepreneurship, which was established under Empire State Development’s Life Science Entrepreneur Development award, and further develop educational and experiential learning initiatives. The Director of the Program in Life Sciences Innovation and Entrepreneurship will build upon the Center’s efforts to synergize technology and business accelerator activities with opportunities for students to gain real-world technology commercialization experience.
Prior to joining the Center for Biotechnology and Stony Brook University, Dr. Peña held leadership positions in both industry and academia. He is experienced with startup and early stage companies. Commercializing scientific discoveries he made at Brookhaven National Laboratory, Dr. Peña co-developed a biotech startup that took a biomaterial from idea to clinical trials and acquisition. He later served as Chief Scientific Officer of a biopharma Contract Research Organization. Dr. Peña has also consulted for technology startups in bioagriculture, medical devices, medical imaging, and energy, supporting technology assessment, market assessment, and business strategy.
“We are excited to have Louis join the Center for Biotechnology and Stony Brook University to further our efforts of expanding entrepreneurial education in the life sciences” Diane Fabel, Director of Operations at the Center for Biotechnology said. She continued “His industry involvement, coupled with his academic experiences allow him to bring a unique perspective to the role and for students in our programs to benefit from his real-world experience.”
“I am very happy to join the team at the Center for Biotechnology and my colleagues at Stony Brook University. The Center has a great, established foundation of commercialization and education in this sector and I’m eager to further develop these unique and critical programs” Dr. Peña said. “Our goal is to bolster the life science commercialization knowledge of students graduating from New York universities. At one level, this will help entrepreneurs gain the mix of skills and expertise needed to successfully guide innovative life science startups along the path to commercial viability. At a broader level, this will help with the biotech workforce development of our region and state for those who may not want to start companies but want to understand the sector in great depth so they can secure well-paying and/or leadership positions in this sector.”
Download a PDF of the announcement here.
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[post_excerpt] => Dr. Peña will steward the University’s Advanced Graduate Certificate in Life Science Innovation and Entrepreneurship, and build upon the Center’s efforts to synergize technology and business accelerator activities with opportunities for students.
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[post_content] => The Center for Biotechnology (CFB) at Stony Brook University is a New York State Center for Advanced Technology and the lead institution of the Long Island Bioscience Hub. The CFB provides the cross-institutional infrastructure for technology development, technology transfer, strategic industry partnerships, new company formation, attraction of investment capital, and other commercialization activities.
The CFB seeks ongoing technology and business development consulting services for its faculty and small business clients. The CFB works primarily with faculty and emerging small businesses to help them develop their technology and business strategy to prepare them for strategic partnerships and/or investment.
Consulting services anticipated, but not limited to:
- Conduct thorough due diligence on select technologies under consideration for investment by the CFB. Develop written assessments.
- Participate in in-person meetings on a weekly basis with faculty innovators and emerging companies to provide strategic guidance in intellectual property, competitive analysis, regulatory strategy, manufacturing, company formation and other issues related to commercialization strategies.
- Actively manage a project portfolio of funded technologies ensuring milestones are met and will add commercial value.
- Assist faculty in the development of applications for funding.
- Assist clients to develop effective fundraising strategies and materials.
- Participate in CFB technology and business development initiatives including the Boot Camp, Strategy Sessions, Long Island BioMentor Service and Life Sciences Summit.
- Help source and conduct due diligence on emerging company candidates for the Life Sciences Summit.
- Consult with CFB on specific technologies regarding commercialization and viability for moving forward.
- Consult with CFB clients on milestones required for licensing, strategic partnerships, investment, and/or manufacturing.
- Consult with CFB staff on client work, intellectual property, as well as patent, regulatory, commercialization strategies as needed.
- Consult on course content for CFB programs such as the Innovation Boot Camp and Fundamentals course. Serve as instructor or guest lecturer as needed.
- Review, interpretation, and advice of patents, websites, articles related to specific technology.
Required Qualifications:
- Direct experience in the management of business and technical issues associated with advanced bio-based technology commercialization, including:
- Due Diligence
- IP Strategy
- Fundraising
- Product development
- Regulatory
- Manufacturing (preferred)
- Sales and Marketing (preferred)
- Licensing
- Technology development experience in working with faculty-members and entrepreneurs seeking to commercialize early-stage technologies.
- Experience in technology development and initial IP landscape review and strategy development.
- Experience in the grant application review and the management of approved grants, including the identification and achievement of milestones that have material commercial value.
Progress Reports
Progress reports detailing meetings held/attended, project development issues, priorities, and other issues of importance are required on a monthly basis.
Time Commitment
- No less than one full day per week.
- Must be available to meet onsite and in-person with CFB staff and clients as needed and required by the CFB.
- Ability to respond to urgent requests and to fill in as needed is desirable.
Proposal Deadline
The CFB seeks proposals from qualified providers who have the expertise and desire to support the technology and business development objectives of the CFB. Interested parties should submit a proposal of no more than one page to Kristina Duryea at Kristina.Duryea@stonybrook.edu by 5p, May 26, 2017.
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The course is presented in a series of five sequential videos. The video modules and course details can be found here: https://www.nibib.nih.gov/entrepreneurial-finance-course
The National Institutes of Health (NIH) supports the development and commercialization of biomedical technologies through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. With the goal of bringing life-saving innovations to market, NIH SBIR/STTR funding provides early-stage seed capital to US-owned small businesses. While the commercialization of biomedical technologies can require a significant amount of both time and money, rigorous financial planning can help navigate and mitigate risks for small businesses and can enhance chances of success along the pathway to market.
For biomedical innovators considering funding through the NIH SBIR/STTR programs (https://sbir.nih.gov), it is imperative to evaluate the use of federal grant funding within the context of a broader financial plan.
Course Objectives
The purpose of this course is to present biomedical entrepreneurs with a detailed framework for building a step-wise, validated financial plan. Moving beyond the short-term perspective of immediate financing needs to a comprehensive, long-term financial plan will increase the probability of success for your venture. The primary learning objectives for this course are as follows:
- Understand the importance of financial planning for your small business
- Gain perspective on SBIR/STTR funding within the broader context of your financial plan
- Learn practical approaches to developing a long-term financial plan
- Evaluate the various sources of funding
- Examine the use of comparables in validating your financial plan
[post_title] => Free Course from NIH: Entrepreneurial Finance for Biomedical Innovators
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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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