Funding for Cold Spring Harbor Laboratory to Support $500 Million Expansion Plan
Lab to Advance Research to Diagnose and Treat Pancreatic Cancer
Builds on $55 Million Previously Committed by New York State
Photos of the Governor Touring the Pancreatic Cancer Center Here
Governor Hochul today announced $15 million for the expansion of Cold Spring Harbor Laboratory’s Pancreatic Cancer Center of Excellence. The funding from Empire State Development will be used for the Lab’s $500 million expansion plan and builds on the $55 million previously committed by New York State, making the State one of the labs largest benefactors for the project. The new Center will advance research to diagnose and treat pancreatic cancer, one of the most lethal forms of cancer.
"New York State is leading on innovation in the healthcare space and this funding will advance research to better understand pancreatic cancer, one of the most devastating forms of cancer,” Governor Hochul said. “We are making important investments to ensure New York is on the cutting edge of biomedical research, creating new jobs, and ensuring we remain competitive in the 21st century economy.”
PCCE is expected to create 25 new direct jobs at the facility, attract entrepreneurial scientists from CSHL and other institutions, and generate two to four new spin-off companies per year. This increased commercial activity could create over 100 new high-value local scientific jobs, further stimulating economic growth in the region.
Pancreatic cancer remains one of the most lethal forms of cancer, with a survival rate of less than 10 percent for patients diagnosed after the cancer has spread. To address this urgent need for new approaches in diagnosis and treatment, CSHL researchers, led by globally renowned scientist, Dr. David Tuveson, have developed scientifically valuable model systems. The PCCE aims to utilize these models in collaboration with neighboring medical facilities to develop innovative therapies and diagnostics, ultimately improving patient outcomes.
CSHL is an anchor of Long Island’s innovation corridor and, with approximately 1,000 high wage life science jobs and clinical trial research collaboration with Northwell Health, is one of the State’s most important life science institutions. CSHL is home to eight Nobel Prize winning scientists and has a history of commercializing research.
Empire State Development President, CEO and Commissioner Hope Knight said, “Cold Spring Harbor Laboratory's expansion of the Pancreatic Cancer Center of Excellence is a testament to the vital role that research institutions play in advancing our understanding and treatment of devastating diseases like pancreatic cancer. This investment not only highlights the State's recognition of CSHL's exceptional scientific contributions but also underscores our dedication to fostering innovation and economic growth in Long Island's life sciences sector.”
Empire State Development Board Chairman Kevin Law said, "The $15 million in funding for Cold Spring Harbor Laboratory's Pancreatic Cancer Center of Excellence is a crucial investment in Long Island's research corridor. This support will accelerate the development of cutting-edge diagnostic tools and treatments for pancreatic cancer, offering renewed hope to affected patients and families. New York State is proud to partner with CSHL in their mission to overcome this devastating disease.”