Governor Kathy Hochul today opened applications for the third round of New York State’s $40 million Biodefense Commercialization Fund. The fund will accelerate the development and commercialization of life science innovations that address serious infectious disease health threats while creating jobs and fostering continued growth across New York State’s expanding life sciences industry. was established to. Since its founding in September 2021, Empire State Development has partnered with 11 startups and academics developing promising diagnostics, vaccines, therapeutics, and other innovations to address or reduce infectious disease threats. We have awarded $25.3 million in grants to 13 institutions.
“Programs like the Biodefense Commercialization Fund allow New York State to be at the forefront of advances in infectious disease discovery and development while strengthening the state’s life sciences ecosystem.” Governor Hochul said. “With this funding, we are not only attracting vital jobs and investment, but also paving the way for improved health outcomes in the future.”
“We are thrilled to be partnering with Empire State Development,” said Hope Knight, president, CEO, and commissioner of Empire State Development. “Under Governor Hochul’s leadership, we are strategically investing in key industries that drive innovation and grow our state’s economy. We are already making an impact by discovering innovative solutions and helping New York continue its leadership in the life sciences industry.”
This round will prioritize applicants who develop promising diagnostic technologies, including point-of-care diagnostics, new sequencing and pathogen surveillance tools, and processes that improve manufacturing and access to diagnostics. These areas are critical for faster identification of infection and its spread, which is key to effective control.
Grants awarded through the Biodefense Commercialization Fund are designed to help bring to market advanced solutions that identify, treat, and prevent serious infectious diseases, and are designed to help bring to market advanced solutions to identify, treat, and prevent serious infectious diseases, and to support the growth of New York State’s growing life sciences industry. We can accelerate growth and position New York State as a leader in infectious disease resilience and mitigation.
Previous Biodefense Commercialization Fund winners have secured $11.1 million in external funding, created 15 new jobs in New York State, filed 10 patent applications, and secured three licensing agreements. We have already demonstrated the positive economic impact of this program.
Eligible startups developing promising diagnostics, surveillance, or other innovations to prevent, diagnose, or mitigate serious infectious disease threats can apply for grants of up to $4 million. Academic research institutions in New York can also apply for grants of up to $500,000 to support the rapid development of advanced intellectual property in the life sciences. The focus is on supporting the development of innovations with the highest commercial viability. The deadline to submit your first application is Friday, November 17, 2023 at 5:00 p.m. More information about the application process, eligibility requirements, and program guidelines can be found online here.
The Biodefense Commercialization Fund is guided by an executive committee that includes representatives from the New York State Department of Health, Columbia University, Mount Sinai School of Medicine, and two venture funds. A panel of experts from the biopharmaceutical industry, life sciences venture community, and academia will review and evaluate submitted applications and provide recommendations to ESD. A key feature of the program is that grantees receive guidance from mentors with experience in the biopharmaceutical industry, venture capital, and academia to help ensure their development programs stay on track. Past award winners can be viewed here.
The Biodefense Commercialization Fund is part of New York State’s $620 million Life Sciences Initiative to foster the growth of New York’s world-class life sciences research cluster and commercialize this research to grow the economy. The goal is to expand the state’s ability to This multifaceted effort includes strategies to attract new life sciences technologies to the state, foster significant public and private sector investment in emerging life sciences sectors, and create and expand life sciences businesses and jobs across New York. It includes $320 million in targeted programs.
The life sciences sector includes the fields of biotechnology, pharmaceuticals, biomedical technology, and life systems technology, and includes organizations and institutions that focus most of their efforts on various stages of research, development, technology transfer, and commercialization. Masu. Every day, companies in this sector develop new medical and pharmaceutical breakthroughs that have the potential to save lives through new treatments and early detection of diseases such as cancer and neurological disorders. These companies are also making significant advances in agriculture and environmental biotechnology, helping to create a cleaner, more sustainable future.