January 14, 2016
Gov. Andrew Cuomo is proposing a $50 million investment on Long Island to build a bioelectronic research and development facility at the Nassau Hub, a mixed-use development at the site of the former Nassau Coliseum. The money is expected to leverage $300 million in private investment.
"The governor’s support of bioelectronic medicine is potentially game-changing, and we look forward to leveraging the state’s support, as well as private philanthropy and corporate investment to bring improved treatments to patients,” Kevin Tracey, the Feinstein Institute’s president and CEO, said in a press release.
Bioelectronic medicine relies on the patient's nervous system to develop therapies that record, block or stimulate neural signaling. Northwell Health is embarking on a $400 million project to build a new bioelectronic center that will help bring medical devices to market.