Executive Summary

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Taken from the CFB's Executive Summary

Introduction

The Center for Biotechnology (CFB), resident at Stony Brook University, is a NYSTAR designated Center for Advanced Technology (CAT) in Medical Biotechnology, and is one of the first created by New York State in 1983. The overall mission of the CFB is to generate positive economic impact in the form of new and retained jobs, corporate revenues and cost savings, and leveraged funding from both private and public sources, primarily by capitalizing on the unique research capabilities of academic institutions to drive and support a globally competitive, knowledge-based economy in New York State. To accomplish this overarching goal, the CFB has developed a comprehensive and multi-faceted strategy, the implementation of which includes a wide scope of programs and activities in infrastructure development, technology development, business development, and workforce development. It is important to note that the operating budget for the CFB has remained $1M annually for the past 25 years.

Infrastructure Development

The CFB has invested heavily in the creation and expansion of infrastructure to support the emerging bioscience industry in New York State, primarily as co-founders of the Long Island High Technology Incubator (LIHTI), which has recently grown to include the Stony Brook University Software Incubator, as well as the Stony Brook University Incubator at Calverton. CFB staff members continue to serve as active members of the Tenant Selection and Review Committee (TSRC) for the Stony Brook University Incubator Program. The CFB has also advanced the development of core research facilities at Stony Brook University (i.e. chemical synthesis, hybridoma, microarray), and it has been a key partner in the establishment of the Department of Biomedical Engineering, with FY07-08 research expenditures of around $6M. The CFB also played a central role in securing funds for the $15.7M Strategically Targeted Academic Research (STAR) Center in Biomolecular Diagnostics and Therapeutics, which opened in Fall 2009 to house the CFB and the Department of Biomedical Engineering. The CFB has also assisted and supported several applications for NYSTAR-funded James D. Watson Young Investigator Awards and Faculty Development Awards, totaling more than $1.5M to attract and retain key research scientists at Stony Brook University since 2002.

In addition, the CFB has facilitated the creation of the New York Biotechnology Association (NYBA) and the Long Island Life Sciences Initiative (LILSI), as well as the New York State Regional Bioscience Council from which the “New York Loves Bio” marketing campaign was recently launched in partnership with the New York State Economic Development Council (NYSEDC). The CFB has also cohosted the annual Life Sciences Summit for the past 7 years.

Technology Development

At the core of CFB efforts to accelerate the commercialization of emerging biomedical technologies, our Innovative Technology Development (ITD) program has provided over $10M in translational research funding to create and advance the critical-path development of promising intellectual property for the past 25 years. The CFB has attracted over $30M in corporate sponsored research over the same time period. Since 2002, CFB investments have been directly and equally matched by New York State corporations wishing to access the unique research infrastructure and faculty expertise resident at Stony Brook University. As a result of these investments and industry collaborations, approximately $17M in CFB-related royalties was generated to Stony Brook University in FY07-08 alone. Over the past 10 years (FY98-99 through FY07-08), approximately $131M in CFB-related royalties was generated to Stony Brook University, representing about 92% of all royalties returned by the 64-campus SUNY system.

The CFB has a well established history of driving innovation toward commercial goals resulting in accelerated product development cycles, new employment opportunities, and increased corporate revenues. CFB investments in technology development have contributed to eighteen new company startups in the pharmaceutical, biotechnology and medical device industries, while accelerating thirteen new products to the marketplace, including ReoPro™, Periostat®, Cavistat®, the V3D Colon™ virtual colonoscopy, SAFHS™ and Dynamic Motion Therapy™.

Importantly, in 2009 the CFB proposed the creation of a Bioscience Technology Commercialization Fund to accelerate the development of, and add-value to, commercially promising biomedical technologies discovered at Stony Brook University. The BTCF launched in 2010 with $350,000 in funding awarded to the CFB by NYSTAR, in conjunction with $400,000 in royalties from the Office of the Vice President of Research in acknowledgement of past investments made by the CFB. Efforts to leverage these commitments to total $1.25M or more are currently underway.

Business Development

To further enhance these core activities and programs, the CFB has more recently created a series of business development programs and services to generate positive economic impact in New York State through the translation of commercially promising academic technologies to industry, as well as in support of emerging bioscience companies. Towards this end, the CFB utilizes considerable resources to advance corporate outreach efforts meant to facilitate meaningful interactions with industry, as well as to deliver and administer various programs of benefit to our corporate partners and clients. In FY06-07, the CFB attracted approximately $250,000 in pilot funding from the Economic Development Administration (EDA) of the U.S. Department of Commerce to focus corporate outreach and industry relations activities to bioscience companies in economically depressed regions of upstate New York, which resulted in several new corporate sponsored research relationships and networking opportunities. Although ongoing support has not been secured, the CFB intends to reengage the EDA for additional funding.

Since March 2008, the CFB has organized and co-hosted the Long Island Innovation Boot Camp as a means of supporting entrepreneurial faculty interested in launching a company based on technology they developed. The Innovation Boot Camp is a two and a half day “build-a-company” event which rallies community talent and resources to investigate and transform potentially “commercializable” technologies into pre-seed stage companies. Formally presented as the Pre-Seed Workshop by Initiatives Consulting (M. Wilson) and JJA Consulting (J. Albers), the Innovation Boot Camp occurs about seven to nine times per year in various host city locations throughout New York State.

Supported by a $50,000 award from Suffolk County (FY07-08), the CFB has also administered a SBIR/STTR Outreach Program meant to identify promising technology companies in the region and encourage them to apply to federal Small Business Innovation Research (SBIR and Small Business Technology Transfer (STTR) grants. Then in September 2007, the CFB launched monthly BioStrategy Sessions as a strategic consulting service to emerging bioscience companies in New York State - a program that will also serve as an opportunity to connect with a new generation of prospective clients statewide. The overall purpose of a BioStrategy Session is to (a) assist emerging bioscience companies prepare investor presentations, (b) enhance and improve the overall commercialization and business development strategy for our clients, and (c) facilitate company access to academic, industry and government resources andcontacts to cultivate their growth in the region, primarily for the purpose of economic development. Moreover, the CFB has agreed to engage companies in BioStrategy Sessions that have been approved by the Bioscience Screening Committee of the Long Island Angel Network (LIAN) to make formal presentations to the member investors. CFB staff members also serve on the Bioscience Screening Committee of LIAN.

In more recent months, the CFB identified another unique opportunity to offer business development, strategic planning and market analysis services to client companies, entrepreneurial faculty, and technology transfer offices through the development of a Technology Commercialization Clinic (TCC), which now also provides an exciting educational opportunity to students enrolled in business, biomedical engineering and medical programs at Stony Brook University. The TCC model has been a part of the Syracuse University College of Law for a number of years, and is now a core service offered by the New York State Science and Technology Law Center (STLC) at Syracuse University. Supported by a $25,000 seed grant to the CFB, the core goal has been to create internal capabilities in partnership with the Stony Brook University College of Business and Touro Law Center to evaluate market opportunities, develop business plans and provide commercialization strategies in an effort to assist clients, guide ITD investments, and ultimately generate economic impact and financial return as a result of these services.

Workforce Development

To supplement investments in technology development and infrastructure, the CFB created a unique workforce development initiative in 2002, the Fundamentals of the Bioscience Industry program, which is meant to facilitate the transition of scientifically-trained graduate students and post-docs into multidisciplinary careers in the bioscience industry. This 84-hour workforce program focused on business, legal, regulatory and product development issues has been taught by 10 course directors and over 75 guest lecturers from industry at Stony Brook University and SBU Manhattan, as well as through distance learning in Buffalo (2006) and Syracuse (2006).

Conclusion

The economic impact generated from CFB investments, programs and activities has been significant. For the five years inclusive of FY01-02 through FY05-06, the CFB was credited by NYSTAR with creating $575M in impact resulting from new jobs, corporate revenues and cost savings, and leveraged funding. These data indicate that the CFB has played a pivotal role in the emergence of the bioscience industry in New York State, particularly in regards to the translation of early-stage technology to the commercial sector, as well as in the creation of critical infrastructure, business development services and workforce development programs to support company growth and long-term success. At the core of this success remains the $1M annual budget commitment by New York State, which is leveraged by $1.25M in annual research expenditures by bioscience companies. Unfortunately, the CFB has experienced 8% budget cuts in FY08-09 and FY 09-10 as a result of the current economic crisis, and there is serious concern for future reductions. These cutbacks further exacerbate the diminished buying power resulting from the increasing costs of doing business, coupled with a stagnant budget since the inception of the CAT program in 1983.

Despite these financial challenges, the CFB remains a critical component of an overall technology-driven economic development strategy for New York State. With continued and expanded support from New York State, the CFB is well-positioned to drive innovation, technology commercialization and business growth, while developing the next generation of knowledge workers for the statewide bioscience industry.