$430 Million Project Will Catalyze Research, Development, and Commercialization of Life-Saving Therapies
Governor Kathy Hochul unveiled plans for New York BioGenesis Park, a groundbreaking $430 million Cell and Gene Therapy Innovation Hub in Lake Success, during a press conference on October 22. The state-of-the-art facility — which will be developed by The Albanese Organization, Inc. — would catalyze CGT research, development, clinical manufacturing, and commercialization across New York State, according to the governor.
With a historic $150 million state investment — the largest nationwide for a cell and gene therapy hub — NYBGP would accelerate the delivery of new therapies from lab to patient in New York’s diverse communities. This transformative hub aims to establish New York as the leading global destination for CGT innovation, driving economic growth, attracting top talent, and revolutionizing patient care statewide and beyond.
“With this groundbreaking hub, New York has the opportunity to stake its claim as the epicenter of cell and gene therapy innovation,” Hochul said. “We’re not just advancing medical science; we’re creating a powerhouse that will drive our economy, generate thousands of high-skilled jobs, and bring hope to millions facing life-threatening diseases. This investment reaffirms our commitment to leading the future of healthcare and ensuring that the next medical breakthrough happens right here in New York.”
The Cell and Gene Therapy Innovation Hub is a critical component of the statewide Cell and Gene Therapy initiative announced in Hochul’s 2023 State of the State address. With the $430 million New York BioGenesis Park on Long Island and the $98 million expansion at Roswell Park Comprehensive Cancer Center in Buffalo, these projects represent a combined total investment of over half a billion dollars in cell and gene therapy innovation across New York.
Empire State Development Board Chairman Kevin Law said, “New York BioGenesis Park represents a transformative investment in Long Island’s future and New York State’s position as a global leader in biotechnology advancements. This project not only promises to create hundreds of high-skilled jobs but also establishes a world-class ecosystem for cell and gene therapy innovation. By leveraging Long Island’s exceptional talent pool and research institutions, we’re laying the foundation for breakthroughs that will save lives and drive economic growth for decades to come.”
The Albanese Organization, Inc., a Long Island-based developer, was selected following a Request for Proposals issued in December 2023. Albanese is conditionally selected to lead the comprehensive process to design, finance, build, market, tenant, and operate the Long Island Cell and Gene Therapy Center. This selection ensures that the project will be executed from conception to operation with an experienced development team.
“This transformative development will serve as a significant catalyst for advancing cell therapy research, development, clinical manufacturing, and commercialization across the state that will lead to increased access to transformative, life-saving treatments,” Albanese Organization Chairman Russell Albanese said. “The Hub will also further amplify and expand the economic engine that is the life sciences industry within New York State, and specifically Long Island.”
New York BioGenesis Park would foster strong ties with academic and medical institutions throughout New York, creating a robust ecosystem for Cell and Gene Therapy innovation. Collaborating with the Empire State Cellular Therapy Consortium and world-class institutions like Cold Spring Harbor Laboratory, the Feinstein Institutes, Northwell Health, Roswell Park, Stony Brook University, Weill Cornell, Columbia University and others around the state. New York BioGenesis Park would enhance research synergies and accelerate medical breakthroughs. This ecosystem would bring together experts in advanced cell and gene therapies, offering specialized facilities, services, and resources to both tenants and collaborating institutions. By facilitating cutting-edge science, innovative technology development and novel approaches to clinical trials, New York BioGenesis Park would ensure New York’s institutions remain globally competitive in groundbreaking cell and gene therapy research and commercialization.
“The facility will be a game changer for physician-scientists, researchers and innovative companies, some of which are already working together in the region to advance novel biomedical treatments in the fight against cancer and other devastating diseases, offering new hope for our diverse communities across the state,” Northwell Health President/CEO Michael J. Dowling said.
The Long Island Cell and Gene Therapy Innovation Hub stands to serve as a cornerstone of New York’s $620 million Life Science Initiative. Aimed at establishing the state as a national leader in the broader life sciences industry — including biotechnology, pharmaceuticals, and medical technology — the initiative allocates $320 million for strategic programs to attract new technologies, promote investment in emerging fields, and stimulate life science business growth and employment statewide. This multifaceted approach seeks to spur the development of a world-class research cluster, enhance the state’s ability to commercialize groundbreaking research, and drive economic growth. By solidifying New York’s position in life sciences innovation, the initiative advances cell and gene therapy development and strengthens the state’s global competitiveness. It is part of New York State’s Life Science Initiative Strategic Plan.
Cold Spring Harbor Laboratory President/CEO Bruce Stillman, PhD, added, “The New York State cell and gene therapy initiative on Long Island will be a most welcome addition to the region’s biomedical research enterprise, and Cold Spring Harbor Laboratory looks forward to partnering with the CGT initiative.”