The $250 million Buffalo Medical Innovation and Commercialization Hub, together with anchor tenant Albany Molecular Research Inc., comprised the first “Buffalo Billion” project and was announced by Gov. Andrew Cuomo in December 2012. Several locations on theBuffalo Niagara Medical Campus fell through before Ciminelli Real EstateCorp.’s Conventus building at Main and High streets was chosen. The BMIC Hub will occupy all of the seventh floor.
The state’s $50 million is to be split between real estate acquisitions and equipment and build-out costs. It sets an employment goal of 250 for tenants of the hub by 2020 — but does not mention penalties for failing to meet that goal. ESD noted that AMRI received about $2.25 million in ESD grants between 1999 and 2000, and though the employment goals weren’t met, the penalties were waived.
Ciminelli added a seventh floor to Conventus after it landed AMRI, and the resulting lab is expected to be about 47,000 square feet. In addition to the molecule library, the lab will include state-of-the-art pharmaceutical screening capabilities, biomarker development and bioinformatics resources to support research and development, according to the minutes.
“The work underway in Buffalo fits nicely with our strategy,” Marth said. “We are continuing to collaborate with the State of New York as they develop a world-class translational science center at the Buffalo-Niagara Medical Center which will enableAMRI to offer next generation discovery platforms and capabilities in the areas of chemistry, biology and pharmacology in a unique open-innovation model.”
Read more here from Dan Miner at Buffalo Business First