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NY Genome Center, Technion-Israel Institute of Technology Form Research Partnership

NEW YORK (GenomeWeb) – The New York Genome Center and the Technion-Israel Institute of Technology are teaming up to advance biomedical and genomics research, and to translate research into new treatments and clinical applications.

"New York and Israel share an unbreakable bond and through this innovative partnership we are further strengthening our economic ties and cementing our common future," New York State Governor Andrew Cuomo said in a statement. "The Empire State is leading the way in groundbreaking life sciences research, and by bringing together these two industry titans, we are positioning New York at the forefront of the next generation of medical research and discovery."

Both institutions have expertise in bioinformatics and computational biology, they said. The Technion-Israel Institute will share its expertise on translating research into commercially viable applications with the goal of advancing personalized medicine and developing new therapeutics.

"The New York Genome Center prizes entrepreneurial spirit, innovation and discovery, and the Technion has built its significant success on these principles. We look forward to forging new paths in genomic research through this collaboration, leveraging the unique strengths of each institution to advance discovery in genomics," added NYGC Chief Operation Officer Cheryl Moore.

Financial terms of the partnership were not disclosed.

This deal extends Cuomo's aim to create a life science research cluster in New York, an initiative he announced in December and which he intends to invest $650 million in building. This includes $250 million in tax incentives for new and existing life science companies, $200 million in state capital grants to support investment in new wet lab spaces, $100 million in investment capital for early stage life science initiatives, and an additional match of at least $100 million for operating support from private sector partnerships, NYGC said.