Biotech firm Codagenix, a fixture at Stony Brook’s technology incubator for the past three years, is moving to the Broad Hollow Bioscience Park at SUNY Farmingdale to qualify for the state’s Start-Up NY program. (Additional reason for the move: Robert Coleman, the Codagenix COO, is an assistant professor of biology at Farmingdale.)
Codagenix uses proprietary software to genetically re-code viruses, which are then synthesized from scratch as treatment candidates – one is a promising flu vaccine – replacing clinical trial-and-error testing that’s been in use since the 1880s. Codagenix has won $1.7 million in federal research grants, plus funding from Accelerate Long Island and venture firms Jove Equity Partners and Topspin. The firm is promising to create five new jobs at Farmingdale and invest $135,000.
Also moving to the park: Mitogenetics, an Iowa startup that has been working with SUNY Old Westbury researchers on treatments for misbehaving mitochondria, the energy source in cells. The firm is creating 15 jobs and investing $2.65 million.
The Bioscience Park is a partnership between SUNY Farmingdale and Cold Spring Harbor Laboratory. It offers more than 100,000 square feet of wet lab and office space and was envisioned as a home for dozens of small biotech firms. The bulk of the property, however, was taken over by OSI Pharmaceuticals in a deal, ultimately unsuccessful, to keep the drug maker on Long Island. OSI shut down local operations in 2013, and the space remained in limbo as a dispute over rent payments and tax incentives dragged on.
The park is viewed as an anchor of a future biotech corridor that would run from Republic Airport to Cold Spring Harbor Lab. Its reopening is big stuff.
C&M Robotics, a Seoul-based manufacturer of robotics hardware, is setting up shop in Stony Brook’s technology incubator. The company envisions a long-term R&D relationship with the school’s automation lab. It’s promised to create eight jobs and invest $950K as part of Start-Up NY.
QB Sonic, a medical device startup, is also moving into the incubator to commercialize ultrasound technology developed at the school. The technology diagnoses and treats musculoskeletal conditions due to aging and trauma to bones, tendons, ligaments and joints. It plans a staff of five and an investment of $25K.
Stony Brook has looked at Start-Up NY applications from 250 companies, considered 100 and has 12 approved, with Albany considering seven more.