State Tax Credits Support Life Sciences Innovation, DNA Manufacturing, and Job Creation
Builds Upon $350 Million Long Island Investment Fund to Bolster Biotechnology Growth
Governor Kathy Hochul today announced state support for Applied DNA Sciences, Inc.'s ongoing development of the company's LinearDNA platform for the manufacturing of the next generation of DNA-based medicines. Applied DNA Sciences is a leader in polymerase chain reaction DNA technologies, and LinearDNA is a direct alternative to plasmid DNA used in the production of DNA-based medicines, such as gene therapies and mRNA vaccines. This technology, developed by Applied DNA Sciences in the Stony Brook University High Technology Incubator, has the potential to drive new innovation in the life sciences industry.
"With its team of world-class researchers, scientific breakthroughs, and innovative medicine manufacturing, Applied DNA Sciences will now join New York's thriving life sciences corridor on Long Island," Governor Hochul said. "Through major initiatives like our Excelsior Jobs program and $350 million Long Island Investment Fund, New York continues to invest in high-growth industries like life sciences to stimulate the regional economy, create the jobs of tomorrow, and build the next major hub for innovation right here in our state."
Empire State Development President, CEO and Commissioner Hope Knight said, "Today's Applied DNA Sciences announcement showcases the incredible strength of Long Island's life science ecosystem and will act as a catalyst for even more innovation and growth in the development of DNA therapies. The use of LinearDNA will allow biotech researchers and scientists to create life-changing medicine and treatments that will improve the lives of New Yorkers on Long Island and across the State"