Feinstein Institutes Get State Grant To Expand Medical Research

MANHASSET, NY — The Feinstein Institutes for Medical Research, part of Northwell Health's network, was the first recipient of a grant from the Long Island Investment Fund. The institute received $10 million to build a new lab to support its medical research.

The Long Island Investment Fund is a $350 million fund established to help grow the regional economy and improve towns across Long Island. The $10 million endowment for the institute will allow it to build a 40,000-square-foot, state-of-the-art lab for medical and infectious disease research. It is in addition to $30 million the institute was previously awarded to modernize its Institute of Bioelectronic Medicine.

"New York is leading the way in medical innovation, and the Long Island Investment Fund will support life-saving research on the cutting edge of the life sciences industry," Gov. Kathy Hochul said. "Our investment in the Institute of Bioelectronic Medicine is already improving the lives of everyday New Yorkers, and the additional Long Island Investment Fund award announced today reaffirms our commitment to remaining a national leader in the health and medical research fields."

The state assistance is part of an $85 million modernization effort at the Feinstein Institutes for Medical Research in Manhasset, and a broader initiative to highlight the growing life science industry on Long Island. The Feinstein Institutes is the research arm of Northwell Health and is one of the leading laboratory and research centers in the country, conducting cutting-edge studies that seek to cure diseases.

The $10 million award to the Feinstein Institutes will support the renovation and construction of 26 new research labs on two floors, as well as the hiring of 10 new principal investigators and 60 research employees. These modernized labs will advance research efforts to develop novel therapies for cancer, diabetes, obesity, lupus and other conditions.

"At the Feinstein Institutes, scientific progress is made every day," said Institutes President and CEO Dr. Kevin Tracey. "With the proper facilities and tools, we can help advance that progress even further. We are thankful to the governor and Empire State Development for their funding of our new space, and we look forward to continuing our breakthrough medical research that will benefit our Long Island communities and beyond."

The Feinstein Institutes is the global scientific home of bioelectronic medicine, a growing field that uses technology to read and modulate electrical activity within the body's nervous system. The new labs at the Institute of Bioelectronic Medicine will support discoveries to find cures that will reduce the need for drugs, reduce painful side effects, and give life back to people who are suffering. Early discoveries have emerged from its labs, opening new treatment options for patients with diseases such as rheumatoid arthritis, diabetes, paralysis and cancer.

The Institute of Bioelectronic Medicine's renovation includes wet-lab bench space, multiple tissue culture rooms, cold storage rooms, workstations for researchers and a brand-new Biosafety Level 3 facility to allow new research into infectious diseases and other complex viruses, such as COVID-19. The expansion also supports the hiring of 13 new principal investigators and 100 new research employees.