UAlbany research center receives $32.7 million investment - NEWS10 ABC: Albany, New York News, Weather, Sports

UAlbany research center receives $32.7 million investment

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ALBANY, N.Y. – Governor Andrew Cuomo announced Tuesday a $32.7 million dollar investment that will expand the RNA Institute Laboratory at the University at Albany and add 60 cutting edge biomedical jobs.

The University at Albany's RNA Institute is a shining example of how public-private partnerships can flourish with the proper support and investment," said Governor Cuomo. "The ‘Tax-Free NY' model will help the RNA Institute and similar centers across the state to take the next step in becoming economic hubs for innovation and commercialization, attracting new business and investment to Upstate New York."

The money comes from a public and private partnership and will pay for a 15,000 square foot expansion at the labs there. Researchers will be hired to work on the treatment and cure for cancer, Alzheimer's, ALS, HIV/AIDS among others.

The new laboratories will house 60 highly skilled biomedical scientists, technicians and administrative employees. Partnerships with global corporations have resulted in the acquisition of computational equipment, rare online molecular libraries and the establishment of a student venture program where new technological discoveries are currently in the licensing stage.

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