NYCEDC Invested $800,000 to Cutting-Edge Biotechnology Company as Part of the NYC LifeSci Expansion Fund; NYC Continuing to Cement Itself as a Global Leader in Biotech
State-of-the-Art Space Features Highly Specialized Molecular Biology Equipment, Fermentation Production Facility and Houses Cultured Colonies, an Incubator for Seed-Stage-Agriculture-Tech Startups
BROOKLYN, NY—New York City Economic Development Corporation (NYCEDC) and Aanika Biosciences Inc, today announced the opening of a new 27,000 square foot facility in Industry City. Founded in 2018, Aanika Biosciences develops microbial markers that can be applied to any product to track, trace, and authenticate products in supply chains to control liability and potential claims. Last May, NYCEDC invested $800,000 to the cutting-edge biotech company as part of the LifeSci NYC Expansion Fund which helps life sciences companies expand their operations in one of New York City’s five boroughs. The fund, supported by LifeSci NYC – a $1 billion initiative overseen by NYCEDC to create 40,000 jobs over the next 10 to 15 years – is designed to support and retain high-growth companies within New York City.
“The expansion of Aanika Biosciences is another power example of how NYCEDC is supporting the growth of future-focused innovation sectors like biotechnology – a game-changing industry that can help New York City address some of the most pressing human and environmental health challenges” said NYCEDC Chief Strategy Officer Cecilia Kushner. “We are thrilled to continue supporting the life sciences industry through NYCEDC’s LifeSci Expansion Fund to allow companies expand and grow throughout the five boroughs.”
“Biotechnology has always been a field that is generally inaccessible for outsiders. My aim for Cultured Colonies is to lower the barriers of entry for biotech startups with hopes of attracting innovators from a multitude of disciplines. I started Cultured Colonies to solve the manufacturing and space constraints for Aanika Bio and am excited to share it with the broader NYC ecosystem,” said co-founder and CEO of Aanika Biosciences Vishaal Bhuyan.
This investment helps to cement New York City’s place as a global leader in sustainability-focused biotech and marks a continued commitment to supporting biotech innovation for climate and sustainability solutions. Most recently, Mayor Eric Adams and Governor Kathy Hochul announced alongside the Chan Zuckerberg Initiative (CZI) plans for the Chan Zuckerberg Biohub New York (CZ Biohub NY), a new biomedical research hub in New York City that will leverage a nearly $300 million public-private investment to drive collaboration between leading research institutions and solve significant scientific challenges.
Aanika Bioscience Inc. was originally based in Sunset Park, Brooklyn and was able to expand to a larger space within Industry City that features highly specialized molecular biology equipment including laboratory space as well as a dedicated fermentation production facility bringing new food-tech capabilities to the city. The facility also houses Cultured Colonies, an incubator for seed-stage-agriculture-tech-startups helping to support the growing cadre of food tech startups in New York City.
With more than 100 research foundations and nine academic medical centers, New York City is home to one of the largest concentrations of academic life sciences research in the world. Unlocking life sciences space and delivering good-paying jobs is part of Mayor Adams efforts to establish New York City as a global leader in life sciences research and innovation. The LifeSci Expansion Fund is one of several active funding initiatives for life sciences by NYCEDC.
These investments also deliver on commitments made in Mayor Adams' “Rebuild, Renew, Reinvent: A Blueprint for New York City's Economic Recovery,” where he highlighted the importance of life sciences and outlined an expansion into three new areas including med-tech, bioengineering, and planetary health.
New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city's future economy. To learn more about what we do, visit us on Facebook, Twitter, LinkedIn, and Instagram.
About Aanika Biosciences
Aanika Biosciences was founded in 2018 by Vishaal Bhuyan and uses biotechnology to mitigate various risks in the food system. The company has developed a suite of products that improves traceability in the supply chain as well as reducing the risk of harmful pathogens and foodborne illness. Through its subsidiary, Aanika Insurance Services, Aanika provides customers with novel insurance products guaranteeing the efficacy of its technology.
About Cultured Colonies
Cultured Colonies is a lab co-working company developing wet lab space in emerging biotechnology hubs such as Brooklyn, NY and has plans to expand across the U.S.