SENATOR BRUNO ANNOUNCES $2 MILLION GEN*NY*SIS GRANT FOR ALBANY MEDICAL COLLEGE

Tuesday, October 8, 2002

Senate Majority Leader Joseph L. Bruno today announced that Albany Medical College will receive a $2 million grant from the Senate�s Gen*NY*sis biotechnology economic development program to build new biomedical research laboratories at the medical school that will accommodate 12 new researchers.

"This Gen*NY*sis grant will pay the majority of the cost to renovate and construct 12,000 square feet of new biomedical research laboratory space," Senator Bruno said. "The new research space could accommodate up to 12 new scientists working on projects ranging from the development of new vaccines for countering bioterrorism to exploring which molecules inside the body may be the best targets for new cancer therapies. In addition, the new researchers could account for an additional $16 to $20 million in research grants during the next five years."

"This grant will help us remain competitive with other centers of biomedical research around the country and will better position us to partner with other institutions and corporations in the area to ensure that many important biomedical advances will benefit the residents of this region first," stated James J. Barba, chairman of the Board of Directors and President and Chief Executive Officer of the Albany Medical Center. "

The total cost of the project will be $2.2 million and it is expected to be completed by January of 2004. Last year, Senator Bruno obtained $780,000 to purchase supplies and equipment for the lab.

The expanded lab space will enable the Medical College to further expand its biomedical research efforts. Annual funding for research at the medical school has nearly doubled in the past five years to its current level of about $30 million.

Currently, the research effort at Albany Medical College occurs within the context of four interdisciplinary research teams: the Center for Cardiovascular Sciences, the Center for Cell Biology and Cancer Research, the Center for Immunology and Microbial Disease, and the Center for Neuropharmacology and Neurosciences.

Current collaborative research efforts of the Medical College include partnerships with the state Wadsworth Laboratories, the University at Albany, Rensselaer Polytechnic Institute and the General Electric Global Research Center.

The Albany Medical College, founded in 1839, is one of the nation�s oldest medical schools. It is part of the Albany Medical Center, northeastern New York�s only academic health sciences center. The Medical Center also includes one of New York�s largest teaching hospitals, the Albany Medical Center Hospital, and the Albany Medical Center Foundation, Inc., one of the Capital Region�s most active fundraising organizations.

Over the past two weeks, Senator Bruno announced two other major Gen*NY*sis projects in the Capital Region: $22.5 million for the construction of a new cancer research center at the University at Albany�s campus in East Greenbush that will create 230 new jobs; and $22.5 million to create a Center for Bioengineering and Medicine at RPI in Troy that will create 290 new permanent jobs.

The Senate Majority first proposed the Gen*NY*sis program in December 2000 to ensure that New York State maintains its position as a premier location for life sciences research and technology development. Gen*NY*sis is focused on all stages of the life sciences research and development process, from basic research to applied research to final product, encouraging collaboration between public and private research institutions with emerging as well as established companies.

The 2002-03 state budget includes $225 million in funds for Gen*NY*sis over the next three years. The money is part of an overall $1.2 billion capital program to expand businesses and create new high technology and biotechnology in New York State. The Gen*NY*sis capital funding will be used to help construct new research facilities, incubators, accelerators, bioscience and high-technology parks and purchase equipment. The program is being administered by the New York State Office of Science, Technology and Academic Research (NYSTAR).

Each project must submit a business plan to be reviewed by NYSTAR. Each project�s business plan must include:
* a description of the proposed project;
* a description of the consortium of institutions and organizations involved;
* the structure and governance of the collaboration;
* efforts to obtain and administer corporate, federal, and foundation support;
* the scientific and technical quality of the proposed research;
* the expected increase in research activity;
* projections of discoveries from the research sponsored;
* economic plan to further develop any discoveries;
* new businesses and jobs within New York State.

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