Partnership Announced Following New York State-Israel Economic Development Working Lunch with Jerusalem Mayor Nir Barkat and Israeli Business Leaders
Brings Together Global Leaders to Accelerate Medical Research, Advanced Genomics, Treatments and Clinical Applications
Following a New York State-Israel Economic Development working lunch with Jerusalem Mayor Nir Barkat and Israeli business leaders at the King David Hotel in Jerusalem, Governor Andrew M. Cuomo today announced a groundbreaking new partnership between the Technion-Israel Institute of Technology and the New York Genome Center. Harnessing the entrepreneurial experience of Technion and the world-class research capacity of the Genome Center, this collaboration will bring together global leaders to accelerate biomedical research, advanced genomics, treatments and clinical applications, and foster the commercialization and job creation capacities of the life sciences industry.
Both the Technion-Israel Institute of Technology and the New York Genome Center have significant expertise in bioinformatics and computational biology. The New York Genome Center uses this expertise to advance discovery in genomics. Through collaboration with leading scientists at the Technion-Israel Institute of Technology, genomics research will be accelerated in novel ways, which will benefit the broader community and provide economic benefits for New York and Israel.
“New York and Israel share an unbreakable bond and through this innovative partnership we are further strengthening our economic ties and cementing our common future,” Governor Cuomo said. “The Empire State is leading the way in groundbreaking life sciences research, and by bringing together these two industry titans, we are positioning New York at the forefront of the next generation of medical research and discovery.”
Through this collaboration, the Technion-Israel Institute of Technology will share its entrepreneurial expertise and demonstrated capacity to translate research into commercially successful life science applications. In turn, the Technion-Israel Institute of Technology will have the opportunity to advance the groundbreaking research taking place at the Genome Center. Together, the Technion-Israel Institute of Technology and the Genome Center will advance the field of genomics and personalized medicine, with the goal of bringing therapeutic benefits to the world and enhancing the status of both Israel and New York as global leaders in the life sciences.
“The New York Genome Center prizes entrepreneurial spirit, innovation and discovery, and the Technion has built its significant success on these principles. We look forward to forging new paths in genomic research through this collaboration, leveraging the unique strengths of each institution to advance discovery in genomics. We are grateful to Governor Cuomo for his continued leadership in advancing the work of life sciences organizations in New York and internationally, and we thank the Partnership for New York City for its commitment to the sector,” said Cheryl A. Moore, President and COO of the New York Genome Center.
"Five years ago we partnered with Cornell University to establish the Jacobs Institute that aims to advance the technology sector in NYC. Now, we are thrilled to partner with New York Genome Center and this time our goal is even broader – to advance genomics research that will benefit people worldwide. Technion is proud to partake with the State of New York in widening the bridge that connects Israel and the US and we are grateful to Governor Cuomo for his leadership and foresight in strengthening the relations between our people," said Professor Peretz Lavie, President of the Technion-Israel Institute of Technology.
The New York Genome Center serves as a state-of-the-art hub for genome sequencing, analytics, bioinformatics, high-performance computing, and research and connects, services, and collaborates with academic, research, and medical institutions, as well as pharmaceutical, biotech, and IT companies. The New York Genome Center was created by twelve of America’s leading medical research institutions with a goal of translating genomic research into development of new treatments, therapies and therapeutics against human disease.
The Technion-Israel Institute of Technology Integrated Cancer Center advances the discovery of new diagnostic tools and cancer treatments. Through the interaction of researchers in all areas of science, from engineers and clinicians to oncologists, basic scientific discoveries are translated into life saving treatments. This innovative, multidisciplinary approach, when partnered with the New York Genome Center, has the potential to dramatically advance cancer genomic research and the application of the knowledge to the betterment of humankind.
This partnership builds on New York’s position at the forefront of life sciences research. In December 2016 Governor Cuomo announced a new $650 million initiative to spur the growth of a new, world-class life science research cluster in New York, as well as expand the state’s ability to commercialize this research and grow the economy. This multi-faceted initiative includes $250 million in tax incentives for new and existing life science companies, $200 million in state capital grants to support investment in wet-lab and innovation space, $100 million in investment capital for early stage life science initiatives, with an additional match of at least $100 million for operating support from private sector partnerships.
The Life Science sector encompasses the fields of biotechnology, pharmaceuticals, biomedical technologies, life systems technologies, and includes organizations and institutions that devote the majority of their efforts to the various stages of research, development, technology transfer and commercialization. Every day, firms in this sector are developing new medical and pharmaceutical breakthroughs that have the potential to save lives, whether through new therapies or the early detection of diseases like autism and cancer. These firms are also making significant advancements in the realms of agriculture and environmental biotechnologies, helping create a cleaner and more sustainable future.
Under Governor Cuomo’s leadership, New York has made unprecedented investments in the knowledge economy. Over the past five years, New York’s Centers for Advanced Technology and Centers of Excellence programs helped create or retain more than 22,000 jobs and generate approximately $4.9 billion in economic impact. Additionally, the Governor’s Innovation Hot Spots and New York State Certified Business Incubators programs, which provide mentorship, shared facilities and product development services to early-stage companies, have generated over $177 million in economic impact in their first year. New York Manufacturing Extension Partnership, which assists small manufacturers to design and implement product and process innovation, helped create or retain over 20,000 jobs and generated nearly $3.4 billion in economic impact.
Acting through the pioneering programs of the New York State Department of Health’s Wadsworth Center Laboratory, Governor Cuomo has also invested more than $216 million to further basic, applied, translational or other research and development activities that will advance scientific discoveries in fields related to stem cell biology through the New York State Stem Cell Science program; $5.5 million to support breast cancer research studies and education projects through the Health Research and Science Board program; and $24 million in research grants to find a cure for spinal cord injuries through the Spinal Cord Injury Research Board.
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