Initiative will accelerate biomedical discoveries for commercialization
The National Institutes of Health (NIH) has awarded Stony Brook University’s Center for Biotechnology a three-year $3 million grant through the SUNY Research Foundation to establish the Long Island Bioscience Hub (LIBH). The grant is part of the NIH’s Research Evaluation and Commercialization Hub (REACH) program and one of only three awarded nationwide. It is a collaboration between Stony Brook University, Cold Spring Harbor Laboratory and Brookhaven National Laboratory and is designed to help accelerate the translation of biomedical discoveries into new drugs, devices, and diagnostics to improve patient care and enhance health.
Stony Brook’s Center for Biotechnology will lead the efforts of the LIBH, coordinating its comprehensive technology commercialization efforts across the three partner institutions. Such activities include technology development programs, establishing of strategic partnerships, recruiting experienced entrepreneurs to provided experienced company management, and providing services such as education and mentoring that will help faculty innovators move their academic innovations into the commercial sector via a start-up company, licensing opportunity, and/or a strategic partnership.
“The Long Island Bioscience Hub will build upon Stony Brook’s existing strengths in translational research and commercialization to develop an infrastructure across partner institutions, which will accelerate the yield of new healthcare innovations,” said Samuel Stanley Jr., MD, President of Stony Brook University. “This partnership will advance New York State’s ever-expanding bio-based entrepreneurial ecosystem with new discoveries that fuel new company formation and jobs in biotechnology.”
“With this award, the NIH recognized the great potential for translational research and technology development that resides in our region,” says Clinton T. Rubin, PhD, Principal Investigator, Distinguished Professor, Chair of the Department Biomedical Engineering, and Director of the Center for Biotechnology. “We’re looking forward to the opportunity to enhance what is already a bourgeoning innovation economy and entrepreneurial ecosystem.”
The REACH program is based on the NIH Center for Advanced Innovations (NCAI) initiative created the National Heart, Lung and Blood Institute (NHLBI). The three hubs established under the REACH program will work collaboratively with the NCAIs to develop best practices and share resources where appropriate. REACHs will also be able to take advantage of unique partnerships with the U.S. Food and Drug Administration, the United States Patent Office, and the Center for Medicare & Medicade Services.
Each NIH REACH hub will provide funding for feasibility studies and coordinate access to expertise in areas required for early stage technology development, including scientific, regulatory, business, legal, and project management. Skill development and providing hands-on experience in entrepreneurism are also aims of the hubs.
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Stony Brook University, Cold Spring Harbor Laboratory and Brookhaven National Laboratory have a demonstrated capacity for bioscience innovation that has advanced the course of biomedical science and contributed to improved healthcare through FDA approved therapies including ReoPro®, SAFHS®, Xiaflex®, Periostat® and Oracea®, new medical devices including 3Dvirtual colonoscopy and LivMD®, and new company formation including New England BioLabs, OSI Pharmaceuticals, Collagenex, Pharmacopeia and Exogen.