BioInc@NYMC, the biotechnology incubator on the campus of New York Medical College in Valhalla, had two celebrations in one on Oct. 30. It celebrated its fifth anniversary while opening new space that effectively doubles its size.
Since its launch in October 2014, BioInc@NYMC has supported nine startup companies, created at least 54 jobs and has had an economic impact estimated to be in excess of $16 million.
“We”™ve been able to provide promising startups the resources they need to successfully develop life-changing medical technologies,” said Deborah Novick, director of the incubator. “The facility has been filed to capacity, helping drive an expansion that will allow the incubator to recruit more companies and better support existing companies.”
Robert W. Amler, dean of NYMC”™s School of Health Sciences and Practice and vice president for government affairs, welcomed the guests.
New York State Senate Majority Leader Andrea Stewart-Cousins praised BioInc@NYMC as “an amazing story for Westchester County and an incredible resource for the region.”
BioInc@NYMC had been in a 10,000-square-foot wing of the building at 7 Dana Road on the campus. The expansion adds an additional 9,500 square feet with offices, conference rooms and seminar space. The expanded footprint is expected to allow for up to 20 additional companies to begin operations at the facility.
Westchester County Executive George Latimer said, “The fundamental reality is that biotechnology is the future for our economy. In the same way prior generations in Westchester foresaw a county that was ahead of the game, creating the first parkway and first planned amusement park, I believe future generations will look back on this private sector partnership and say ”˜we got it right.”™”
Edward C. Halperin, chancellor and CEO of NYMC, said, “Shortly after my arrival here seven years ago, we collectively committed ourselves to creating a home on this campus for biomedical companies, where the best and brightest ideas would be brought to us for possible commercialization.” He noted that partnerships involving universities, government and private enterprise, especially in the U.S., Great Britain, France and Canada, have produced the most rapid progress in biomedical sciences in history.
Halperin said, “We must, I think, consider: the needs of stakeholders as well as shareholders; stakeholders such as current and future patients; the impact of what we design and manufacture upon the environment; the creation of satisfying and socially important and good paying jobs.”
Typical of the companies operating at the incubator is Affina Biotechnologies, a contract research organization working in the drug discovery and development process with clients as far away as Australia and South America. Another company, Sapience Therapeutics, is working on ways to treat difficult medical conditions such as high-mortality cancers.
Mark Zemel, founder and CEO of DigiTouch, Retia Medical and MOE Medical Devices, said, “BioInc has been the home of my three startups … for the past three years.” He said BioInc@NYMC “has provided us access to excellent facilities and superior researchers for collaboration that has enabled us to attract investment, grow rapidly and achieve major milestones such as FDA (U.S. Food and Drug Administration) clearance.”
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