NewYorkBIO Responds to Proposed NIH Funding Cap and Its Potential Impact on Life Sciences

Statement on behalf of Jennifer Hawks Bland, CEO of NewYorkBIO:

“NewYorkBIO is aware of the funding cap announced by the National Institutes of Health, proposing changes to the way the department funds medical research across universities, hospitals and other scientific institutions. 

New York’s life science industry receives significant NIH funding for biomedical research, second only to California, with many of these dollars focused on lifesaving research and development activities. This change in funding has the potential to interrupt this research and development.

As the leading advocate for life sciences and biotech organizations of all sizes across the state, we know that many of our member organizations rely on federal funding to support their work. Our life sciences industry is propelled by a balance of federal dollars, private investments, and philanthropic funding, and we know that any disruption to this balance can result in confusion and uncertainty for companies and organizations as they chart the future of their research, development, and commercialization activities.

We are continuing to monitor proposed changes to federal research funding, as well as the multi-state intervention underway that has paused implementation. We will continue to monitor this situation closely to address how these changes may impact our members’ ability to continue funding the treatments and cures of the future, and will share information as it becomes available. If you are a member organization with questions and would like to discuss our continued advocacy, I would be happy to connect.

Our commitment to advancing the life science ecosystem in New York remains steadfast and we look forward to continuing to share the positive impact of the work that we do each day.”