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.