City Gives Biotech Company $1M To Set Up Harlem Lab

HARLEM, NY — A biotech company specializing in scientific research related to cancer will establish a new lab facility in West Harlem after receiving $1 million through a city program, the city Economic Development Corporation announced Monday.

Quentis Therapeutics is the first company to receive money from the LifeSci NYC Expansion Space Fund, which was established by the city EDC in order to support the city's growing biotech industry, city officials said. Quentis' new facility is expected to support the company's growth from 16 full-time employees to 50 in the next five years.

"We’re thrilled to launch the LifeSci NYC Expansion Space fund to support biotech companies, like Quentis, who are creating quality jobs for New Yorkers through their work," EDC President and CEO James Patchett said in a statement.

The city did not announce where exactly the Quentis facility will be located, but did say that the facility will be part of a growing "biotech cluster" in West Harlem that includes organizations such as CUNY’s Advanced Science Research Center, City College’s Center for Discovery and Innovation, Harlem Biospace, New York Structural Biology Center and the Zuckerman Mind & Brain Institute.

Quentis plans to conduct drug discovery research and development at its new facility, according to a press release. The company specializes in immunology, oncology, and chemistry and is current researching new therapeutic approaches to treat stresses caused by diseases such as cancer.

"From our inception, we were committed to being a New York City-based biotechnology company but were faced with the challenge of finding suitable space that could accommodate our needs," Michael Aberman, President and CEO of Quentis Therapeutics, said in a statement. "Our partnership with NYCEDC will allow us to continue to grow in New York City."

The city is expected to award $10 million through the LifeSci NYC Expansion Space Fund, officials said. The fund is part of the larger 10-year, $500 million LifeSci NYC initiative launched by Mayor Bill de Blasio in 2016 to establish the city as a national leader in science research.

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