Feds give Brooklyn’s BioBAT $1.1M grant for development of COVID-related products
The U.S. Department of Commerce’s Economic Development Administration is awarding a $1.1 million CARES Act Recovery Assistance grant to BioBAT, Inc., a research and manufacturing facility at the Brooklyn Army Terminal, for the renovation of workspace designated for two biotechnology companies, the federal agency announced on Wednesday.
This investment, which will be matched with $500,000 in local funds, will support the development of products to treat COVID-19 and will better enable the region to respond to future economic disruptions such as those caused by the coronavirus pandemic.
BioBAT, often described as a life sciences incubator, is a partnership created by the Research Foundation for SUNY, on behalf of SUNY Downstate Health Sciences University, and the city’s Economic Development Corp.
According to its website, BioBAT’s mission is to foster the growth of the life sciences industry and create jobs; offer research and manufacturing space to biotechnology and related companies; provide opportunities to work with SUNY Downstate scientists, clinicians and students; and engage the broader community through entrepreneurship, workforce development and educational programs.
“I’m proud to have secured critical funds for economic recovery in the CARES Act to support companies like BioBAT, Inc. in Brooklyn to help us better respond to the economic and public health complications brought on by COVID while growing New York’s innovation economy,” said U.S. Sen. Chuck Schumer. “Investments in COVID-19 treatments will further our recovery and aid in our response to future COVID variants as communities continue to recover from the pandemic.”
“Brooklyn’s very own BioBAT, Inc. has long served as a source of scientific ingenuity and innovation in our community, particularly in its research and development of COVID-19 treatments. Through this transformative grant, our city’s biotechnology sector will grow stronger than ever and reaffirm our commitment to overcome the pandemic timely and equitably,” said U.S. Rep. Yvette Clarke (D-Crown Heights-Brownsville-Flatbush-Midwood-Gravesend).
“I look forward to the innovative research and pandemic treatment development BioBAT is undertaking, and I have no doubt this crucial mission will be successful, especially with this new funding boost,” Clarke added.
“This EDA investment in BioBAT, Inc. will further help in our fight against COVID, while simultaneously allowing for the expansion of the biotechnology sector in New York City and the retention of local businesses in Brooklyn,” said U.S. Secretary of Commerce Gina M. Raimondo.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) program, provides a wide range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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