New York Gov. Kathy Hochul toured the Lab of the Future with Excelsior Sciences CEO Michael Foley, PhD, and Cure CEO Seema Kumar on Sept. 19, 2024, as part of her visit to Cure.
The Lab was developed with support from Deerfield Management Company and a $25 million Empire State Development grant awarded in 2022 to support early-stage drug discovery.
The Lab is designed to function as an automated research facility that will discover better medicines faster in New York. To do this, the Lab will leverage proprietary chemistry that machines can do, integrated with high quality biological testing to create data that artificial intelligence (AI) can use and learn from.
"The technology behind Lab of the Future has the potential to set a new standard for early-stage research in the life sciences and shift market dynamics that are hindering progress in the U.S.," Foley commented when the Empire State Development grant was announced. "This is a tremendous opportunity for New York to promote economic growth and create a lasting impact on science and medicine."
The State of New York and ESD funding directly supports the purchase of essential science equipment. It will also support software and technology development (including customization, product testing, etc.), in addition to the hiring of experts in technology and preclinical development.
The Lab also is expected to encourage growth in New York's life sciences ecosystem and job market.