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More Funding for the Medical Campus

The Buffalo Niagara Medical Campus (BNMC), a critical economic engine of WNY and New York State, continues to receive government financial support.

 

Last week, Representative Louise Slaughter announced a $4.6 million federal appropriation to the University of Buffalo for the purchase of a cyclotron to be installed in the university’s new Clinical and Transitional Research Center (CTRC) currently under construction in the Buffalo Niagara Medical Campus.  The funds, coming from the US Department of Defense, will help the $118 million facility translate basic medical research into new treatments and technologies for patients.

 

A Biosciences Incubator, being developed alongside the CTRC, will provide office and laboratory space, as well business services aimed at start-up companies spun off from UB medical discoveries.  It is expected that the incubator will be at full occupancy within two to three years with a projected annual economic impact of $68 million. 

 

“The Buffalo Niagara Medical Campus has been an anchor of job creation and innovation for Buffalo, which is why I’m so pleased to announce this funding for the purchase of a cyclotron at the University at Buffalo,” explained Slaughter.  “With this funding, the Clinical and Translational Research Center on the Buffalo Niagara Medical Campus will have the ability to develop new therapies and treatments for cardiovascular diseases, cancer and neurological disorders and make UB more competitive for federal research grants to continue their lifesaving work.”

On Friday, the Empire State Development Corporation (ESDC) continued New York State’s commitment to developing the BNMC as a center of economic transformation with the announcement of a $4 million Upstate Regional Blueprint Fund grant.  Funding is expected to spur private sector growth of local life sciences and biotechnology companies, as well as encourage entrepreneurism in Western New York.

 

The funding will go to the campus’ Innovation Center at 640 Ellicott Street housed in part of the former Trico manufacturing building which was renovated under a previous state investment of more than $15 million.  The center is expected to create at least 50 new high-technology positions and since it’s opening in January 2010, has successfully recruited 20 new tenants.  IMMCO Diagnostics, Inc., one of the center’s newest firms, is planning a $1 million investment to relocate it’s immunogenetics division to the building by the end of this year.

“The Buffalo Niagara Medical Campus is one of the State’s highest priorities to ensure a growing and competitive environment for innovation and new technology,” explained Governor David A. Paterson.  “The BNMC and its Innovation Center are two of Western New York’s most coveted assets.  They are economic, academic and business drivers for the region and for the entire state. Establishing a world-class biotechnology campus is essential if New York State is to become a global leader in the life sciences industry.  The BNMC is leading Western New York in this charge, joining top biotech companies together with our academic institutions to make significant advancements in the fields of medicine and, engineering and technology.”

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