Governor Andrew M. Cuomo today announced a 30 day budget amendment that will support the creation of the New York Genomic Medicine Network, a partnership between the New York Genome Center (NYGC) and the University at Buffalos (UB) Center for Computational Research to advance biomedical research and grow the genomic medicine industry in New York. This amendment will allow for greater flexibility in funding the $55.75 million commitment from the State, which still requires a full match from the New York Genome Center.
The NY Genomic Medicine Network will help create more high paying jobs and make Western New York a national hub for genomic research, Governor Cuomo said. As the next major investment of our Buffalo Billion initiative, this project will help save lives, improve public health and support the growth of this new emerging industry in the region.
To create the NY Genomic Medicine Network, the Governors proposed budget provides $55.75 million for the New York Genome Center and authorizes $50 million of the Buffalo Billion initiative for the University at Buffalo. The budget amendment would amend the $55.75 million New York Genome Center appropriation to reflect the agreement between the State and the New York Genome Center, which requires a full match from NYGC.
State University of New York (SUNY) Chancellor Nancy L. Zimpher said, Through the support of Governor Cuomo, UB will build on its stature as a major national research university and one of the keys to economic development in Western New York by being at the forefront of cutting edge medical research. The partnership to create the NY Genomic Medicine Network with one of our world-class universities is a perfect fit, made possible because of the investment in Western New Yorks research infrastructure through Governor Cuomos NYSUNY2020, the Buffalo Billion, the Regional Economic Development Councils, and the exciting new Green Energy project at Riverbend that replicates the successful CNSE model. With SUNYs proven track record of innovation, research, and public-private partnerships, all of us at SUNY are confident that the Genomic Medicine Network has global importance with its near limitless potential for medical breakthroughs to treat and cure diseases.
The University at Buffalo is proud to partner with the New York Genome Center to create the New York Genomic Medicine Network, said University at Buffalo President Satish K. Tripathi. By tapping into UBs unique blend of expertise in biomedical research and high-performance computing, this statewide initiative will break critical ground in the field of personalized medicine, revolutionizing the diagnosis and treatment of serious diseases from cancer, diabetes and heart disease to Parkinsons and Alzheimers disease. We are grateful for Governor Cuomos recognition of UB as a national leader in the critically important area of genomic medicine, and we embrace this opportunity to further our commitment to building stronger, healthier communities through our leadership in life sciences research and innovation.
This funding is vital as we are in an exponential growth phase creating jobs and working to bring genomic science to the bedside across New York State, said Dr. Robert Darnell, President, CEO & Scientific Director of the New York Genome Center. The Governors commitment will allow NYGC to acquire and use next-generation technology, connect it with the capacity and expertise being expanded at the University of Buffalo, and use it to attract renowned scientists to understand disease and save lives.
The Governor's support for genomics will give NYGC the unique ability to create a world class research and academic consortium across New York which will leverage state-of-the-art technology to yield clinically actionable results, said Marc Tessier-Lavigne, President of The Rockefeller University.
The NY Genomic Medicine Network seeks to capture the economic and medical gains in the emerging field of genomic medicine for New York State and to develop Upstate New York as a national center for genomic research and jobs. This network links the medical community in New York City with the computational infrastructure at the University at Buffalo and the research community at Roswell Park Cancer Institute. With its supercomputing resources and expert staff, the Buffalo institutions will provide the NY Genome Center with rapid access to computational capabilities that will increase the speed of genomic research and analysis critical to diagnosis of diseases.
Five companies focused on genomic medicine have already committed to either moving to Buffalo or expanding in the area, many at the Buffalo Niagara Medical Campus.
In addition, genomic medicine has the potential to reduce the cost of health care, as many drug compounds currently sitting on the shelves of pharmaceutical companies will find new uses. It is estimated that health care costs will decline by $500 million over the next five years as genomic medicine emerges as a standard of treatment.
Erie County Executive Mark Poloncarz said, The NY Genomic Medicine Network is an important initiative for our region and one that will not only lead to growth in our economy, but will also spur cutting-edge medical technologies that will put Erie County on the map. I thank Governor Cuomo for this major commitment and applaud the University at Buffalo and its partners for taking the reins in the growing genomic medicine industry.
City of Buffalo Mayor Byron Brown said, The growth of the health and life sciences industry in Buffalo is a driving force behind the $4.3 billion in new economic development activity thats currently underway in Buffalo. With the addition of the NY Genomic Medicine Network, we will further capitalize on the great strides being made in this dynamic field to bring more good-paying jobs and private investment into our city. I applaud Governor Cuomo for his continued commitment to Buffalo. We are fortunate to have a true partner in Albany.