Funding for Cold Spring Harbor Laboratory to Support $500 Million Expansion Plan
Lab to Advance Research to Diagnose and Treat Pancreatic Cancer
Builds on $55 Million Previously Committed by New York State
Governor Hochul on May 4th, announced $15 million for the expansion of Cold Spring Harbor Laboratory’s Pancreatic Cancer Center of Excellence. The funding from Empire State Development will be used for the Lab’s $500 million expansion plan and builds on the $55 million previously committed by New York State, making the State one of the labs largest benefactors for the project. The new Center will advance research to diagnose and treat pancreatic cancer, one of the most lethal forms of cancer.
“New York State is leading on innovation in the healthcare space and this funding will advance research to better understand pancreatic cancer, one of the most devastating forms of cancer,” Governor Hochul said. “We are making important investments to ensure New York is on the cutting edge of biomedical research, creating new jobs, and ensuring we remain competitive in the 21st century economy.”
PCCE is expected to create 25 new direct jobs at the facility, attract entrepreneurial scientists from CSHL and other institutions, and generate two to four new spin-off companies per year. This increased commercial activity could create over 100 new high-value local scientific jobs, further stimulating economic growth in the region.
Pancreatic cancer remains one of the most lethal forms of cancer, with a survival rate of less than 10 percent for patients diagnosed after the cancer has spread. To address this urgent need for new approaches in diagnosis and treatment, CSHL researchers, led by globally renowned scientist, Dr. David Tuveson, have developed scientifically valuable model systems. The PCCE aims to utilize these models in collaboration with neighboring medical facilities to develop innovative therapies and diagnostics, ultimately improving patient outcomes.
CSHL is an anchor of Long Island’s innovation corridor and, with approximately 1,000 high wage life science jobs and clinical trial research collaboration with Northwell Health, is one of the State’s most important life science institutions. CSHL is home to eight Nobel Prize winning scientists and has a history of commercializing research.
Cold Spring Harbor Laboratory President and CEO Bruce Stillman said, “Cold Spring Harbor Laboratory has already made significant breakthroughs in pancreatic cancer research, including the discovery of new drug targets. Our new Pancreatic Cancer Center of Excellence will help validate these targets, enabling our commercial partners to develop innovative therapies and diagnostic strategies that ultimately improve patient outcomes. I’d like to thank Governor Hochul and the State of New York for continuing to support cutting-edge bioscience at Cold Spring Harbor Laboratory.”
Founded in 1890, Cold Spring Harbor Laboratory is one of the world’s leading centers for biomedical research and has shaped contemporary biomedical research and education with programs in cancer, neuroscience, plant biology and quantitative biology. For over 130 years, CSHL scientists have made many significant discoveries that have advanced knowledge and brought about a deep understanding in areas as diverse as cancer, identifying the first cancer gene, uncovering genetic changes that give rise to autism, the functioning of the brain, and mathematical approaches to biology. CSHL’s research programs tackle some of the most challenging problems facing society, including Alzheimer’s and Parkinson’s disease, the impact of cancer on the body’s physiology, and advancing artificial intelligence by building on understanding of how our natural intelligence develops.
Through strategic investments, New York fuels the creation of cutting-edge advancements in biomedical research and development. The biotech and life sciences industries have become powerful growth engines for New York State, turning key regions of the state into dynamic life science hubs that includes organizations and institutions dedicated to various stages of research, development, technology transfer and commercialization. Cold Spring Harbor Laboratory’s Neuroscience Research Complex will contribute to research and development of new scientific and medical innovations and accelerate Long Island’s growing life sciences economy.
