New York Medical College has named Deborah Novick as director of its BioInc@NYMC biotechnology incubator.
Novick has experience as consultant to startups and entrepreneurs, including as an instructor for the Women”™s Enterprise Development Center in White Plains. She will be responsible for overseeing the daily operations for BioInc@NYMC and its new TruMada Initiative, which focuses on helping more established Israeli biomedical startups through business development services and capital access.
The incubator, launched in October 2014, offers shared resources, lab space and professional services to entrepreneurs and start-ups in the life sciences field. The incubator is in a 10,000-square-foot wing of a 129,000-square-foot building on the medical college’s Valhalla campus.
Tenants at the incubator include Sapience Therapeutics Inc, which focuses on developing therapeutics to address difficult-to-treat cancers; Four LLC, which is creating nutritional products aimed at curbing cravings; and the Dutch international conglomerate Philips, which has 13 employees focused on genomics research.
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In December, New York Medical College received a $1.25 million grant from New York State to support its operations. The incubator is designated the mid-Hudson Valley biotech “hot spot” by the Empire State Development Corp., which provides it with state funding to help foster innovation in the region.
Novick has previously advised entrepreneurs and startups on strategy, growth and business development, according to the announcement from the college, and has helped raise capital for young companies in private and public capital markets. Her experience includes handling transactions ranging in size from $50,000 to $20 million.
“BioInc@NYMC has established itself as the premier biomedical incubator in the region and I am eager to join and help support its mission and the success of its members,” Novick said in a statement. “My previous experience working with Westchester County startups and raising capital has prepared me to take on this prestigious position.”
