Sunset Park’s BioBAT life-sciences incubator receives $50M to expand lab space
On Tuesday, BioBAT at the Brooklyn Army Terminal — a partnership between the Research Foundation for SUNY (on behalf of Downstate Health Sciences University) and the city’s Economic Development Corp. — received $50 million to expand its lab space for life-science tenants.
The award ceremony took place during a tour of the BioBAT facilities by EDC President and CEO Rachel Loeb, SUNY Downstate Senior Vice President of Research Dr. David Christine, BioBAT President Dr. Eva Cramer and others.
Among the “life sciences” are biology, anatomy, bacteriology, biochemistry, biophysics, cell biology, genetics, molecular biology and more.
BioBAT’s mission is to foster the growth of the life-sciences industry and create jobs; to offer research and manufacturing space to biotechnology and related companies; to provide opportunities to work with SUNY Downstate scientists, clinicians, and students; and to engage the broader community through entrepreneurship, workforce development and educational programs.
The $50 million in capital is part of an effort, announced last month, to double the city’s $500 million investment in life sciences to $1 billion as part of LifeSci NYC, a commitment in the mayor’s State of the City address to create jobs and establish New York City as a global leader in the life sciences. This initiative is expected to generate 40,000 jobs.
“Building a healthier city means ensuring the life science sector is equipped with the greatest potential for cutting-edge technologies and treatments for all New Yorkers,” Rachel Loeb, president and CEO of the New York City Economic Development Corporation, said at the time.
As part of LifeSci NYC, the city will invest $200 million in commercial lab space and incubators; $300 million to support nonprofit facilities to spur new research; $5 million to enhance the Life Sciences Expansion Fund; and $5 million to expand the LifeSci NYC internship program.
At the Brooklyn Army Terminal, BIoBAT’s labs are built to accommodate all companies, from early-stage startups to international companies.
BioBAT was established in 2006. Starting with its anchor tenant, the International AIDS Vaccine Initiative, the organization has been a magnet for science and technology firms. Today, there are many cutting-edge science companies housed at the BioBAT campus.
Leave a Comment
Leave a Comment