Governor Kathy Hochul today launched the third round of applications for New York's $40 million Biodefense Commercialization Fund. The fund was established to accelerate the development and commercialization of life science innovations that address serious infectious disease health threats while creating jobs and encouraging continued growth across New York State's expanding life science industry. Since its inception in September 2021, Empire State Development has awarded $25.3 million in grants to 11 start-up companies and 13 academic institutions that are developing promising diagnostics, vaccines, therapeutics and other innovations to address or mitigate infectious disease threats.
“Programs like the Biodefense Commercialization Fund are putting New York State at the forefront of advancements of infectious disease discovery and development while strengthening the State’s Life Science ecosystem,” Governor Hochul said. "With this funding, we are not only attracting significant jobs and investment, but we are also making way for better health outcomes for the future.”
Empire State Development President, CEO and Commissioner Hope Knight said, “Under Governor Hochul’s leadership, we are strategically investing in key industries that will spark innovation and grow the state's economy. The Biodefense Commercialization Fund is already making an impact by targeting academic institutions and startups so they can discover innovative solutions for infectious diseases and help continue New York’s leadership in the life science industry.”
This round is giving priority to applicants developing promising diagnostic technologies, including point-of-care diagnostics, novel sequencing and pathogen surveillance tools, and processes to improve manufacturing and access to diagnostics. These areas are important to facilitate more rapid identification of infection and its spread, which are key to effective control.
Grants awarded through the Biodefense Commercialization Fund are intended to help bring to market advanced solutions that identify, treat, and prevent serious infectious diseases, encouraging growth across New York's expanding life science industry, and positioning the state as an infectious disease resiliency and mitigation leader.
Previous Biodefense Commercialization Fund awardees are already demonstrating the positive economic impact of this program, having secured $11.1 million in external funding, created 15 new jobs in New York State, filed 10 patent applications and executed three licensing agreements.
Source: ny.gov
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Categories: New York, Government & Policy