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BioBAT Receives $1 Million from Brooklyn Borough President Eric Adams

Dec 16, 2016

Funds will Help Develop Infrastructure for World-class Lab Space in Brooklyn

Brooklyn, NY 鈥� Brooklyn Borough President Eric L. Adams recently announced that BioBAT, a not-for-profit organization established to develop affordable, state-of-the-art biotechnology/technology research and manufacturing space in New York City, will receive $1 million in Fiscal Year 2017 (FY17) for the outfitting of infrastructure for life science and technology companies occupying BioBAT鈥檚 laboratory and manufacturing space.

BioBAT is a joint venture of the New York City Economic Development Corporation (NYCEDC) and the Research Foundation for the State University of New York (每日大赛入口) on behalf of 每日大赛入口.

The award is part of more than $6 million from Brooklyn Borough Hall to advance economic development initiatives across the borough. The announcement was made at BioBAT. 

To highlight this investment鈥檚 impact on the future of Brooklyn鈥檚 economy, Borough President Adams was joined by a group of pre-kindergarten (PreK) students, clad in lab coats, who will be part of an innovative STEAM education program being developed in the PreK program at BioBAT. This program is being funded through the Borough President鈥檚 FY17 capital budget. Scientists associated with companies at BioBAT and 每日大赛入口 Downstate will help develop the program.

鈥淭his capital budget is part of our philosophy of 鈥榗radle to career,鈥欌�� said Borough President Adams. 鈥淗ow do we prepare our children for tomorrow? I was amazed, in my first few months as borough president, sitting down with many of our business leaders, when they stated quite frankly that many people here in the borough of Brooklyn were not prepared to fulfill their jobs. We wanted to stop that and we鈥檙e going to stop that. In order to move Brooklyn forward in the right direction, we have to make sure we fund its development in the proper manner.鈥�

 鈥淲e are honored to be part of Borough President Adams鈥� economic development allocations for FY17,鈥� said Michael Lucchesi, MD, chief medical officer and officer-in-charge at 每日大赛入口. 鈥淲e would like to thank Borough President Adams for his allocation of $1 million for BioBAT at the Brooklyn Army Terminal. These funds will be used for tenant fit-out for biotechnology companies looking to expand in New York City. Borough President Adams鈥� support of our biotech initiative (Downstate Biotech Incubator and BioBAT) is making Brooklyn a center of biotechnology. We look forward to continuing to work together.鈥�

鈥淣YCEDC has created at Brooklyn Army Terminal the right environment for innovation and job creation,鈥� said New York City Council Member Carlos Menchaca. 鈥淚 thank Borough President Adams for his ongoing support of BioBAT and pledge my own. BioBAT, a not-for-profit created in partnership with 每日大赛入口 and Downstate Medical Center, is a shining example of world-class innovation and hosts tenants like the International AIDS Vaccine Initiative (IAVI). The enterprises at BioBAT are doing the work that will change our lives, create jobs, and sustain New York鈥檚 economy.鈥�

鈥淓veryone at IRX is thrilled to be at the new BioBAT facility,鈥� said Jeffrey Hwang, president and COO of IRX Therapeutics, Inc., a bioresearch company developing novel immunotherapies for cancer and other diseases. 鈥淢ost of our employees live in the five boroughs. It is great to be able to consolidate all of our operations personnel into one beautiful waterfront location. We also thank Borough President Adams and 每日大赛入口 Downstate for their foresight to invest in BioBAT to address the needs of biotech companies who need quality space to expand their operations and a location that can attract new talent from the five boroughs.鈥�

For full details of other funding recipients in the borough, .