Four biotech companies expand in NYC to advance research (NY)
NEW YORK CITY — Empire State Development announced that four biotech companies will build or expand their commercial operations in New York City. New York State’s Innovate NY program has partnered with leading life sciences investment fund, the Partnership Fund for New York City, to further advance an emerging biotechnology cluster.
The Partnership Fund was awarded $2.8 million through Innovate NY to invest in TARA Biosystems Inc., Celmatix Inc., Lodo Therapeutics Corporation, and Petra Pharma Corporation, which was matched by over $21.5 million in private investment funds.
“New York Ventures celebrates innovation and discovery, entrepreneurialism, and a steadfast dedication to job creation,” said ESD President, CEO & Commissioner Howard Zemsky. “I am excited to see the biotech industry expand in the Empire State, and I look forward to the company’s significant contributions to the bioscience industry
and local economy.”
Source: Empire State Development