A $3 million grant from the National Institutes of Health will help Long Island’s three premier biotech R&D facilities speed medical breakthroughs to market.
The NIH announced April 8 that it was awarding Stony Brook University’s Center for Biotechnology a three-year grant to help establish the Long Island Bioscience Hub in collaboration with Cold Spring Harbor Laboratory and Brookhaven National Laboratory in Upton. The hub will look to turn biomedical discoveries made at the three R&D institutions into commercialized drugs, devices and diagnostics, making it an ideal beneficiary of the NIH’s Research Evaluation and Commercialization Hub program.
Stony Brook University’s Center for Biotechnology will “lead the efforts of the LIBH, coordinating its comprehensive technology commercialization efforts across the three partner institutions,” according to an SBU statement announcing the $3 million REACH grant.
But all three facilities will share in efforts to develop bioscience breakthroughs and bring them to market.
“This is another exciting initiative that will help build a bioscience corridor on Long Island,” Charles Ryan, the former senior vice president and chief intellectual property counsel at Forest Laboratories who became CSHL’s new general counsel this winter, told Innovate-LI. “Cold Spring Harbor Laboratory is proud to be a part of this.”
Among other efforts, the Long Island Bioscience Hub will establish new technology-development programs and recruit entrepreneurs “to provide experienced company management,” according to the statement – specifically, to offer mentoring that will help “move academic innovations into the commercial sector via a startup company, licensing opportunity or strategic partnership.”
The Long Island Bioscience Hub received one of only three 2015 REACH grants issued nationwide. Also funded were hubs based at the University of Louisville in Kentucky and the University of Minneapolis in Minnesota, joining previous REACH beneficiaries including the Boston Biomedical Innovation Center, the Cleveland Clinic Innovation Center and the University of California BRAID Center for Accelerated Innovation.