$430M cell and gene therapy hub planned for Long Island

On a recent visit to Nassau County, Governor Kathy Hochul unveiled a groundbreaking project aimed at positioning New York as a leader in life sciences. The New York BioGenesis Park, a $430 million cell and gene therapy (CGT) hub, is set to revolutionize the biotechnology landscape on Long Island. This monumental initiative promises to spur economic development, create high-skilled jobs, and drive scientific advancements in the field of cell and gene therapy.

A Hub for Innovation and Research

Located in Lake Success, the New York BioGenesis Park is a 700,000-square-foot facility designed to foster collaboration, research, and the commercialization of life-saving therapies. The project, developed by Garden City-based Albanese Organization, will be supported by a $150 million investment from the state of New York.

The hub will feature spaces for public engagement, research, manufacturing, and collaboration. Its first phase includes a 331,000-square-foot facility on Northwell Health’s campus, with a dedicated incubator supported by a $50 million investment from Empire State Development’s Long Island Investment Fund.

Incubator: A Catalyst for Startups

The incubator at the BioGenesis Park will serve as a vital hub for early-stage biotech companies. It will provide wet lab space, shared equipment, office space, and other resources necessary for startups to thrive. The incubator model aims to create an entire life sciences ecosystem with support services, promoting collaboration among companies ranging from early-stage startups to more mature entities.

Economic Impact and Job Creation

The construction of the BioGenesis Park is expected to create about 830 full-time union construction jobs, with an additional 700 jobs related to cell and gene therapy development. This significant investment in infrastructure will have a profound impact on the local economy, driving job growth and spurring economic development.

Partnerships with Local Institutions

The New York BioGenesis Park has garnered support from several prominent local institutions. Northwell Health, the largest health system in New York, has expressed its commitment to supporting the initiative. The health system recognizes the transformative potential of the hub, which will serve as a game-changer for physician-scientists, researchers, and innovative companies working to advance novel biomedical treatments.

Cold Spring Harbor Laboratory, another renowned research institution in the region, has also welcomed the initiative. The laboratory’s president and CEO, Bruce Stillman, noted that the state’s cell and gene therapy initiative on Long Island will be a valuable addition to the region’s biomedical research enterprise.

State’s Commitment to Leadership in Life Sciences

Governor Kathy Hochul emphasized the importance of this project in her announcement. “With this groundbreaking hub, New York has the opportunity to stake its claim as the epicenter of cell and gene therapy innovation,” she said. The governor further highlighted that the investment reaffirms New York’s commitment to leading the future of healthcare and ensuring that the next medical breakthrough happens right here in New York.

Key Players and Investment

Empire State Development (ESD) has played a crucial role in facilitating this project. The agency’s president and CEO, Hope Knight, underscored the significance of the investment, stating that it underscores New York’s commitment to leadership in life sciences and catalyzes a transformative shift in the biotechnology landscape.

Russell Albanese, chairman of the Albanese Organization, also highlighted the project’s potential, noting that it will further amplify and expand the economic engine that is the life sciences industry within New York State, specifically on Long Island.

Long Island’s Biotech Sector Leadership

Long Island has already established itself as a statewide leader in the biotech sector, with internationally recognized research and educational institutions supporting various biotech companies. The new cell and gene therapy hub announced by Governor Hochul will provide a platform for further collaboration to develop lifesaving technologies and spin out new companies.

Conclusion

The New York BioGenesis Park represents a transformative investment in Long Island’s future and New York State’s position as a global leader in biotechnology advancements. This project not only promises to create hundreds of high-skilled jobs but also establishes a world-class ecosystem for cell and gene therapy innovation.

By leveraging Long Island’s exceptional talent pool and research institutions, the BioGenesis Park is laying the foundation for breakthroughs that will save lives and drive economic growth for decades to come. As Governor Hochul aptly put it, this is an extraordinary opportunity for New York to stake its claim as the epicenter of cell and gene therapy innovation, enhancing its position as a leader in the life sciences industry.

References

• LIBN: "$430m cell and gene therapy hub planned for Long Island" (https://libn.com/2024/10/23/430m-cell-and-gene-therapy-hub-planned-for-long-island/)
• Empire State Development: "$430M Cell and Gene Therapy Innovation Hub on Long Island" (https://www.linkedin.com/company/empire-state-development)
• BizJournals: "Blumberg Institute to manage incubator for $430m New York life sciences campus" (https://www.bizjournals.com/philadelphia/news/2024/10/22/blumberg-institute-incubator-ny-biogenesis-150m.html)