New York plans to invest $35 million over five years in a partnership between Clarkson University and the Trudeau Institute to form a biotech enterprise.
The effort is intended to “further establish the region as a premier center of biotechnology research and development,” according to a statement the office of Gov. Andrew Cuomo released today.
It’ll save more than 80 jobs at the Trudeau Institute, the governor’s office said.
The initiative involves Clarkson University, a private university in Potsdam, and the Trudeau Institute, a center for immunological research in Saranac Lake.
The biotech enterprise will attract new investment and encourage the commercialization of new technologies that will lead to creation of new companies and “bring hundreds of jobs to the North Country,” the governor’s office said.
Both institutions have the capacity to cover the “full spectrum” of biotechnology and dramatically energize the research to commercialization biotech product process.
New York has “a major asset” in both Clarkson University and in the Trudeau Institute, and the state must “harness these strengths” for the innovation economy, Cuomo said in the news release.
“This transformational partnership will allow for the best and brightest minds to collaborate and undertake world-class research and development, building the region into a global leader in the biotech industry and driving new opportunities and jobs in Northern New York,” Cuomo said.
New York’s $35 million investment is intended to support the research and development efforts between Clarkson and Trudeau.
It’ll include establishing and coordinating scientific research and expanding education and technology-based economic development.
These activities include research into the use of fine particles for medicine, pharmacy, biotech, nanotech and bioengineering programs at Clarkson.
It’ll extend to additional areas such as instrumentation and devices, and other biomedical engineering initiatives in the North Country that neither institution could produce through its own activity, the governor’s office said.
The funding will provide for operational costs and lab improvements at Trudeau and Clarkson, and allow each organization to implement new programs that will ensure financial sustainability, particularly for Trudeau.
The Trudeau Institute has “historically” depended on government and foundation-based funding of grants to support its research and affiliated operations, Cuomo’s office said.
In addition, the collaboration between Clarkson and Trudeau would foster interactions with various programs at other universities to spur further opportunities for the North Country, the office contends.
Contact Reinhardt at ereinhardt@cnybj.com