NYFIRST Grants Attract World-Class Scientists Focused on Research with Commercial Potential to Benefit Human Health Research Talent Recruitment Program is Part of New York State's $620 Million Life Science Initiative Empire State Development (ESD) today announced recipients of the second round of New York Fund for Innovation in Research and Scientific Talent (NYFIRST) grants. First announced by Governor Cuomo in 2018 NYFIRST is a $15 million grant fund that encourages the recruitment or retention by New York medical schools of exceptional translational researchers, who are exploring basic research for important commercial potential. NYFIRST provides grants of up to $1 million to cover working capital and capital costs for the research conducted by the recruited or retained researcher. The first round of NYFIRST recipients was announced in 2019. Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, "COVID-19 showed us the Governor Cuomo’s longstanding commitment to building a robust life science industry in New York State is not only smart economic development strategy, but also critical to the state’s public health infrastructure. NYFIRST will continue to attract nation-leading researchers whose innovative research offers the potential to create jobs and expand this vital industry for New York's future." The three recipients announced today include: Columbia University has recruited Simon John, Ph.D. as a Professor and Howard Hughes Medical Institute Investigator from Jackson Laboratory in Maine. Dr. John is a recognized expert in developing new understandings and therapies for the treatment of a variety of blinding eye conditions. Dr. John’s past research has led to the issuing of three patents and four provisional patent filings; two of which have been licensed. It is expected that Dr. John’s research at Columbia will lead to many patentable discoveries related to glaucoma and generalized visual degeneration. Dr. John will bring five team members who will be directly employed by Columbia, and it is anticipated that approximately ten new jobs will be created as a direct result of the recruitment. University of Rochester has recruited Steven Silverstein, Ph.D. as the George Engel Professor of Psychosocial Medicine, Associate Chair for Research in Psychiatry and Director of the newly established Rochester Center for Brain and Retina. Dr. Silverstein was recruited from Rutgers University in New Jersey. Dr. Steven Silverstein will lead the Center’s efforts to connect with private industry to leverage Rochester’s long and distinguished history of vision research. Dr. Silverstein’s research interests are in the development of visual system biomarkers for neuropsychiatric disorders, especially severe mental illness, and in psychological consequences of vision loss. Rochester anticipates that the research led by Dr. Silverstein will increase the number of copyright and trademark registrations and patentable discoveries by approximately five each year. Dr. Silverstein brings two junior faculty with him to the University of Rochester, where it is anticipated that approximately 41 new jobs will be created as a direct result of the recruitment. SUNY Upstate Medical University has retained Juntao Luo, Ph.D. to support his efforts to develop a unique approach to sepsis treatment. Dr. Luo has been awarded seven patents since joining UMU in 2011 and has filed for a total of 15 patents in the last 10 years. In the next four years, Dr. Luo is expected to file three to four additional patent applications. He is also interested in setting up start-ups to commercialize his technology and therapeutic products. The retention of Dr. Luo offers the potential to create three new startups in the Biotech Accelerator at UMU, as well ensuring the continuous federal funding of $1.83 million from his funded projects and additional pending funds. Dr. Luo’s lab previously employed two post-doctoral staff and two research scientists, and this grant will allow for two additional staff members. Associated Medical Schools of New York (AMSNY) President and CEO Jo Wiederhorn said, “Programs like NYFIRST not only attract exceptional researchers, but they also strengthen the institution’s profile, drawing additional talent and investment. These programs also create jobs; AMSNY has projected that the first three NYFIRST recipients, named in April of 2019, created 101 jobs, directly and indirectly, and attracted approximately $17.5 million in funding.” Columbia University Irving Medical Center Interim Executive Vice President and Dean of the Faculties of Health Sciences and Medicine Anil K. Rustgi, M.D. said, “I want to applaud the vision of Governor Cuomo and the Legislature for establishing the NYFIRST grant program, which has become essential in helping us attract and retain the nation's top medical researchers. These scientists not only make important discoveries, but they also bring in millions of dollars in federal grants, file patents, start new companies, and create high-skill jobs. We look forward to continued support for this essential program." University of Rochester Medical Center Department of Psychiatry John Romano Professor and Chair H. Benjamin Lee, M.D. said, “Without the NYFIRST program, we couldn’t have recruited Dr. Steve Silverstein and his talented research team that have developed the Rochester Center for Brain and Retina (RCBR). The groundbreaking research by Dr. Silverstein’s work at RCBR will have lasting impact in health and the economy of our region for years to come.” SUNY Upstate Medical University Chairman and Professor of the Department of Pharmacology Richard Wojcikiewicz, Ph.D. said, “Being able to retain Dr Luo at UMU has been hugely beneficial to the Pharmacology Department and the Institution: his continued presence has made possible the development of SIRC – the Sepsis Interdisciplinary Research Center – with payoffs in terms of better therapies and commercialization. He is an innovative and dedicated scientist and a tremendous asset to UMU.” New York State's $620 Million Life Science Initiative New York State enacted a $620 million initiative to spur the growth of a world-class life sciences research cluster in New York, as well as expand the state's ability to commercialize this research and grow the economy. This multi-faceted initiative, leveraging private sector investment, includes tax credits, capital grants, and operational support. The initiative includes the $40 million New York State Biodefense Commercialization Fund, created in response to the COVID-19 pandemic to capitalize on New York’s research and development assets and expertise in life sciences, biotechnology, and biodefense. The life sciences sector encompasses the fields of biotechnology, pharmaceuticals, biomedical technologies, life systems technologies, and includes organizations and institutions that devote the majority of their efforts to the various stages of research, development, technology transfer and commercialization. Every day, firms in this sector are developing new medical and pharmaceutical breakthroughs that have the potential to save lives, whether through new therapies or the early detection of diseases like autism and cancer. These firms are also making significant advancements in the realms of agriculture and environmental biotechnologies, helping create a cleaner and more sustainable future. By strengthening incentives, investing in the facilities, and improving access to talent and expertise, New York will significantly increase its share of industry-funded research and development, support the commercialization of existing academic research, and usher in the next generation of advanced technologies. Beyond the advancements in science, this initiative will position New York as a magnet for emerging manufacturing-based enterprises, bolstering regional economies and creating thousands of jobs. Contact: ESD Press Office | [email protected] | (800) 260-7313

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Press Release

Empire State Development Announces Life Science Entrepreneur Development Grant Awards

Friday, July 16, 2021 - 2:26pm

Grants Encourage Collaboration Between Business Schools and Graduate Life Science Programs to Develop Industry Talent Pipeline Advances Growing Investment in New York’s Life Science Ecosystem, which Tripled in 2020 Empire State Development (ESD) today announced recipients of grants that address the growing need for entrepreneurial talent in New York’s life science ecosystem, especially given the state’s growing attractiveness to private investors as a hub for emerging life science companies. These entrepreneur development grants, first announced by Governor Cuomo in 2019, will help close the talent gap that had previously limited life science commercialization in the state and will develop entrepreneurs with the mix of skills and expertise needed to successfully guide innovative life science startups along the path to commercial viability. Life Science venture investment in New York in FY2020 reached $.73 for every dollar of National Institutes of Health (NIH) funding received by New York’s life science research institutions, a major jump from $.13 for every NIH dollar in 2016. With an increase in life science investment of this magnitude, the need for entrepreneurial talent is more critical than ever. Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, “Empire State Development is strongly committed to building a robust life science industry in New York State. By developing the specialized entrepreneurial talent needed by life science companies right here in New York, we will be better equipped to advance the discovery research conducted at our world-class academic centers and retain that research in New York as it moves closer to commercialization.” Five graduate schools of business working in collaboration with graduate programs in the life sciences have been awarded grants of up to $500,000 each to implement a new MBA concentration or certificate in life science entrepreneurship. Collaborations between the business school and life science graduate program are critical to equipping students with the skills needed to become leaders in New York’s growing life science ecosystem. The grant recipients represent six different regions of the state: Cornell University & SC Johnson College of Business (Southern Tier, New York City): The SC Johnson College of Business will partner with the Weill Cornell Graduate School of Medical Sciences, the College of Veterinary Medicine, the College of Engineering, and other graduate programs in life science areas to create a 12-credit Certificate in Life Science Entrepreneurship called the BioEntrepreneurship Fellows Program. Rensselaer Polytechnic Institute & Lally School of Management (Capital): The Lally School of Management will partner with the School of Science, the School of Engineering, and the Icahn School of Medicine at Mount Sinai to create a 21-credit MBA Concentration in Life Science Entrepreneurship, along with a shorter, 12-credit Certificate Program available to students at both RPI and Mt. Sinai. Rochester Institute of Technology, Saunders College of Business (Finger Lakes): The Saunders College of Business will partner with the Kate Gleason College of Engineering, the College of Science, and the Golisano College of Computing and Information Sciences to create an online Executive MBA Concentration in Life Science Entrepreneurship with three tracks for students to choose from: Biomedical Engineering, Bioinformatics, and a customizable option. Stony Brook University, College of Business (Long Island): The College of Business will partner with the Center for Biotechnology and Department of Biomedical Engineering to create a 16-credit Life Sciences Innovations and Entrepreneurship Advanced Graduate Certificate for all life science graduate students within the university and region. University at Buffalo, School of Management (Western New York): The School of Management will partner with the Jacobs School of Medicine and Biomedical Sciences, the School of Engineering and Applied Sciences, and the Roswell Park Comprehensive Cancer Center to create a 12-credit MBA Concentration and Advanced Graduate Certificate in Life Sciences Entrepreneurship. Cornell University SC Johnson College of Business Dean Andrew Karolyi said, “We are very grateful for this exciting opportunity to partner with New York’s Empire State Development in creating this certificate in life science entrepreneurship. This program has the potential to create new and innovative opportunities for our students who aspire to build a better world in life science commercialization. The program will bring together talent from across Cornell University and leverage the vast expertise found in our graduate programs, including MBA and Ph.D. programs. It’s a truly collaborative initiative which can ultimately leverage business innovation and entrepreneurship and lead to transformative change.” Rensselaer Polytechnic Institute Provost Prabhat Hajela, Ph.D. said, “This forward-looking grant from New York State will enable the Lally School of Management at Rensselaer Polytechnic Institute to leverage its particular strengths in order to address a pressing need in our society. Not only does Lally have an established legacy of developing successful entrepreneurs, it is also uniquely situated within the country’s first technological research university. Rensselaer is committed to advancing research in biotechnology and the life sciences through multi-disciplinary collaborations, both within the Institute and with our partners at the Icahn School of Medicine at Mount Sinai.” Rochester Institute of Technology Saunders College of Business Dean and Professor Jacqueline R. Mozrall said, “RIT and Saunders College of Business are excited for this opportunity, supported by Empire State Development's Entrepreneur Development Grant, to develop and deliver a customized program that will serve to bridge our nationally ranked Online Executive MBA with the rich portfolio of life sciences, engineering and computing expertise found at RIT. This initiative will position entrepreneurs to drive commercial applications and job creation in the life sciences.” Stony Brook University College of Business Dean and Distinguished Professor Manuel London, Ph.D. said, “Stony Brook is very excited to be developing this curriculum for graduate students in the biomedical sciences here on Long Island, and expect that it will fuel both technology development and company formation here in the region. As a collaboration between the College of Business and the Center for Biotechnology, we are confident that an interdisciplinary program like this, enabled by Empire State Development Life Sciences, will help our outstanding graduate students of today become the innovators and entrepreneurs of tomorrow.” University at Buffalo School of Management Dean and Professor Paul Tesluk, Ph.D. said, “We are excited to build through collaborations with multiple schools at UB, Roswell Park Cancer Center, and regional life sciences companies a highly innovative academic and experiential learning program focused on developing the entrepreneurial, managerial and executive talent needed to deliver innovative and impactful technology-driven life science solutions in NYS.” The Life Science Entrepreneur Development Grant Program was created to promote a culture of entrepreneurship within life science-focused academia, as well as to encourage academic scientists to direct their research toward commercial applications. This grant program included two stages. Stage 1 provided grants of up to $50,000 each to develop a detailed plan for a life science entrepreneurship graduate program. A total of 18 academic institutions submitted applications, of which seven were chosen to receive a planning grant. Of these seven schools, five were selected to receive Stage 2 implementation grants of up to $500,000 each. These institutions are expected to launch their programs within 12 to 18 months. New York State's $620 Million Life Science Initiative New York State enacted a $620 million initiative to spur the growth of a world-class life sciences research cluster in New York, as well as expand the state's ability to commercialize this research and grow the economy. This multi-faceted initiative, leveraging private sector investment, includes tax credits, capital grants, and operational support. The initiative includes the $40 million New York State Biodefense Commercialization Fund, created in response to the COVID-19 pandemic to capitalize on New York’s research and development assets in infectious diseases and expertise in life sciences, biotechnology, and biodefense. The life sciences sector encompasses the fields of biotechnology, pharmaceuticals, biomedical technologies, life systems technologies, and includes organizations and institutions that devote the majority of their efforts to the various stages of research, development, technology transfer and commercialization. Every day, firms in this sector are developing new medical and pharmaceutical breakthroughs that have the potential to save lives, whether through new therapies or the early detection of diseases like cancer and neurological diseases. These firms are also making significant advancements in the realms of agriculture and environmental biotechnologies, helping create a cleaner and more sustainable future. By strengthening incentives, investing in the facilities, and improving access to talent and expertise, New York will significantly increase its share of industry-funded research and development, support the commercialization of existing academic research, and usher in the next generation of advanced technologies. Beyond the advancements in science, this initiative will position New York as a magnet for emerging manufacturing-based enterprises, bolstering regional economies and creating thousands of jobs. Contact: ESD Press Office | [email protected] | (800) 260-7313

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Board Meeting

New York Empowerment Zone Corporation Directors Meeting

Thursday, July 15, 2021 - 1:00pm

The meeting is open to the public. Web casting of the meeting is available at the link below. Members of the press should please call (800) 260-7313; Members of the public should please call (212) 803-3772.

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