Could you outline NewYorkBIO’s mandate?

Founded in 1990, NewYorkBIO is a trade association representing the life sciences industry in the state of New York.  NewYorkBIO has a wide cross-section of members, including large pharmaceutical and small biotech companies, academic institutions, patient foundations and service providers. One of our key roles is to advocate for the interests of the industry with policymakers and other stakeholders.  For example, NewYorkBIO works to encourage a policy landscape that allows New York-based companies to more easily bring their treatments to market.  

Could you elaborate on the initiatives being put forward by Governor Cuomo and Mayor De Blasio to increase growth in New York State’s life sciences industry?

Both the Governor and the Mayor have initiated robust programs to increase the presence of life science companies in New York state and City.  Together, these life sciences initiatives represent more than US$1 billion in investment. This includes tax incentives, direct investment and other programs focused on fostering an environment to grow New York into a world leader. The New York City Economic Development Corporation (NYCEDC), which is focused on increasing investment in New York City, is incentivizing companies to locate and grow within the City. For example, the NYCEDC recently awarded Quentis Therapeutics for US$1 million from the NYCEDC’s LifeSci NYC Expansion Space Fund.  Quentis, a biotech company that is developing immunotherapy to treat cancer, will use the funds to help the company expand and relocate to a new location in West Harlem.  

With respect to upstate New York, in 2018 Governor Cuomo announced the formation of the Empire Discovery Institute, EDI, - a groundbreaking partnership of the University at Buffalo, the University of Rochester and Roswell Park Comprehensive Cancer Center. This new entity will leverage academic and industry resources and expertise to accelerate life science research through early-phase drug development. EDI will expedite the pathway toward successful licensing and commercialization of early drug discovery research, creating new revenue, new companies and new jobs, while capitalizing on New York's leadership as a vibrant life science cluster and hub for early-stage discovery. These are two examples of the spread of research and manufacturing throughout the state, which show that New York is well positioned as it seeks to expand the life science industry’s presence in the region.  

What will be a key factor in developing New York’s life sciences industry moving forward?

Investment is key in facilitating industry development, and New York has seen tremendous growth in start-ups and emerging biotech companies. The state is home to arguably the world’s best collection of academic medical centers, which provide significant support to building an ecosystem of biotech companies.  New York is also home to capital markets and a significant collection of the nation’s patient advocacy organizations, which therefore provide unique opportunities for companies to grow and develop and attract capital.  While New York is not as mature a hub as a few other life science focused locations in the United States, we are making great strides in growing the New York presence in life sciences.  

Could you tell us about your complementary membership for startups?

As a trade association, our goal is to support the industry and its development. We offer the Fellows Program for Life Science Entrepreneurs for companies with fewer than five employees and with less than US$5 million in funding. The membership is free for one year and renewable for a second year, with access to our discount purchasing program, which leverages the purchasing power of many biotech companies across the country. Fellows members enjoy all of the other benefits of membership in NewYorkBIO, such as networking opportunities and representation on policy issues. 

What will be NewYorkBIO’s key objectives moving forward?

In 2019, we have a series of meetings focused on our advocacy and policy work, which entails engaging in public policy discussions and working with legislators. We want to highlight the importance of the industry when we are in the New York State Capitol, because we are not only fostering the innovation of life-saving treatments, but also providing jobs within the state. A second key objective is to provide a platform for networking and information for our members. We host our NYBIO Annual Meeting in May. 

Could you provide a final message to our readers on New York’s biopharma industry?

The biopharma industry in New York is on the verge of explosive growth. We have investment from the state, the city, key institutions and stakeholders to grow the industry. We are on the cusp of a breakthrough in becoming one of the most important hubs within the United States for biotech drug development.