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September 22, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

NYMC awarded $450,000 for BioInc and Center for Disaster Medicine expansion

Lab space at Bioinc@NYMC in Valhalla.

New York Medical College (NYMC) will be receiving a grant of $450,000 from New York state which will help to add an additional 9,500 square feet of space to its BioInc biotechnology incubator and expand its Center for Disaster Medicine (CDM) to include additional dedicated classroom and seminar space.

The BioInc space at NYMC’s Valhalla’s campus is filled to capacity and the expansion is expected to create room for up to 20 more startup companies.

Salomon Amar, who is the vice president for research and a professor of pharmacology and microbiology and immunology at NYMC and also provost for biomedical research and chief biomedical research officer for Touro College and University System, said, “Since it was first launched nearly five years ago, BioInc@NYMC has become an important force in New York’s biomedical industry. With the state’s support, this expansion will advance BioInc’s ability to fuel biomedical innovation in the Hudson Valley while enhancing our students’ training and their ability to compete in the pharmaceutical industry.”

The state money is distributed as part of a matching funds program in which the recipient school spends $3 of its own money on a project for every $1 the state awards to the project. The state funds come from the Higher Education Capital (HECap) Matching Grant Program. Where the HECap money goes is decided upon by its board.

Edward C. Halperin, chancellor and CEO at NYMC, said, “Matched with our own institutional funding, this HECap award will allow our Center for Disaster Medicine to continue to be at the forefront of disaster medicine, while expanding our incubator’s capacity to bring cutting-edge biotechnology to New York state.”

Robert W. Amler, vice president for government affairs and dean and professor of public health at NYMC, said, “New York’s investment in BioInc and the Center for Disaster Medicine is a grand endorsement of the incubator’s remarkable success to date and the vital importance of the research and training provided by the Center for Disaster Medicine.” CDM has been providing training to first responders for the past 13 years.

NYMC was founded in 1860 and joined the Touro College and University System in 2011.