Downstate’s BioBat to Receive $50M From City’s Expanded LifeSci NYC Investment

By Office of Communications & Marketing | Jul 21, 2021

We are proud to share that the New York City Economic Development Corporation(NYCEDC) recently announced an incredible $50M investment in life sciences at Downstate’s BioBAT in support of its lab space expansion! The investment is being bestowed as a part of LifeSci NYC—a commitment launched by NYC Mayor Bill de Blasio to drive the creation of new life science jobs across all five boroughs and to develop New York City into a global leader in the life sciences space.

BioBAT’s mission directly serves to support the advancement of the life science industry in New York City. A 501(c)3 not-for-profit organization, BioBAT—a partnership established by Downstate and the Research Foundation for SUNY—serves as a scientific research, exploration, and manufacturing hub located in the heart of Brooklyn at the New York Sciences and Technology Center in the Brooklyn Army Terminal. The certified business incubator offers tax-free, cost-effective rental laboratory and office space to biotech firms. When all phases of BioBAT’s expansion are complete, its tenant companies will generate more than 500 new jobs.

Downstate’s founding and development of BioBAT demonstrates a commitment to our institutional mission of growing into a state-of-the-art research enterprise, as well as advancing the progressive development of science and technology that will contribute to the economic engine that drives advancements throughout the Brooklyn Borough.

“These major investments in advancing the life sciences agenda of New York City and specifically BioBAT will be of inestimable value in enhancing and fulfilling our City’s aspirations to be the leader in this space and serve as an ‘attractor’ to national and international life scientists, investors and developers,” said Dr. Wayne J. Riley, Chair of BioBAT’s Board and President of SUNY Downstate Health Sciences University. “This impactful commitment to invest in infrastructure will greatly enhance and further develop our research platforms to contribute to the post pandemic economic recovery.”

“Thanks to the continued support of NYCEDC toward developing biotech in Brooklyn, these funds will enable BioBAT to build additional research labs and manufacturing space for successful companies," said Dr. Eva Cramer, President of BioBAT and Vice President for Biotechnology and Scientific Affairs at SUNY Downstate Health Sciences University. "This will provide high quality jobs and exciting medical innovations for our community.”

 

Read NYCEDC’s Official Press Release HERE!