NEW YORK (GenomeWeb News) – The New York Economic Development Corporation said today it has launched an initiative that will inject $100 million into life sciences startup companies located in the city through a mix of money from city government, life sciences companies, and venture capital partners.

The City of New York Early-Stage Life Sciences Funding Initiative will seek to invest in 15 to 20 early-stage research and development companies by 2020, according to the NYCEDC.

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David Dobbs writes at Buzzfeed that genomics has delivered little on its promises.

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