A 15-acre site in Lake Success will become home to a 200,000-square-foot cell- and gene-therapy research hub, part of a state initiative to boost the life sciences sector. Governor Kathy Hochul announced up to $150 million in state funding for a developer to finance, design, construct, lease, and maintain the facility at 1 Marcus Ave. The hub will include a 25,000-square-foot business incubator to support startups and propel scientific discoveries to clinical trials and commercialization.
Cell and gene therapies, which modify or introduce genes in patients to combat diseases like cancer and diabetes, will be a focus. The project aims to create 300-500 jobs and attract life science companies to Long Island, enhancing the sector statewide.
“This initiative will drive innovation in the life sciences, create good-paying jobs, and improve lives across New York,” said Hochul. The hub’s location near Long Island Jewish Medical Center and Cold Spring Harbor Laboratory is ideal for research and clinical trials due to its proximity to diverse patient populations and investment opportunities.
Boston has a significant lead in biotech development, but local leaders believe this project can boost Long Island’s position. The state is also investing $30 million in a similar upstate hub focusing on solid tumor treatments.
Proposals for the Lake Success project are due by mid-March, with developers required to outline a 10-year plan for operations, including efforts to secure patents, conduct clinical trials, and foster a thriving biotech ecosystem.
Lake Success’s proximity to medical and research institutions like Long Island Jewish Medical Center and Cold Spring Harbor Laboratory makes it an ideal location. The area’s diverse population will facilitate varied clinical trials, and its accessibility to Wall Street investors is a financial advantage.
Northwell Health president Michael Dowling highlighted the hub’s potential to revolutionize cancer research and therapy commercialization.
What are Cell and Gene Therapies?
Gene therapy replaces or edits defective genes to treat inherited diseases like SCID. Promising treatments are in trials for conditions like sickle cell disease and hemophilia.
Cell therapy, such as CAR-T, modifies immune cells to target and destroy cancer cells, primarily used for blood cancers.
Read the full article on Newsday by Sarina Trangle here: https://www.newsday.com/business/cell-and-gene-therapy-hub-hochul-lake-sucecss-northwell-u4z5apzw