Biotech companies in New York State are diversified into key research areas such as small molecules, gene therapies, neurological diseases, AI, diagnostics, and oncology. Top biotech companies in New York include BrainStorm Cell Therapeutics, BlueRock Therapeutics, Kallyope, Axsome Therapeutics, MeiraGTx, Pfizer, among others.
New York ranks first in bioscience-related venture capital investments with $2.6 Billion in 2022, 3rd in bioscience patents, and total drug development pipeline in the U.S. The state also ranks second in NIH funding with $3.6 Billion, generating $8 Billion in revenue.
Some initiatives and programs are also helping to boost the industry. A $180 Million Statewide Cell and Gene Therapy (CGT) Initiative which also include a $30 Million investment in the largest academic CGT research and manufacturing facility in the US.
Also, a $150 Million investment in a “Hub of the Future” at the Long Island Cell and Gene Therapy Center. There is also a $25 Million investment to bring IndieBio to New York creating home for startups in New York State. The New York Stem Cell Foundation Research Institute, is pioneering research in stem cell.
New York Ventures has invested $27 Million in life sciences startups, and attracted another $168 Million from private investors.
