Prospects in what ICB&DD brings to Stony Brook
There are many anticipated payoffs for Stony Brook's investment in ICB&DD. First of all, this "Center of Excellence" is sure to gain Stony Brook University recognition as a shining star in the rapidly expanding "Chemical Biology" in the biomedical research community. ICB&DD will be a powerful inducement to attract high caliber faculty members in different departments. Secondly, this "Center of Excellence" will keep exceptionally talented faculty members in the Chemistry Department at Stony Brook, i.e., it would significantly contribute to the retention of those faculty members. Thirdly, the initial investment can be recovered by the acquisition of Program grant(s) from the NIH. It is virtually impossible for a chemistry department to get such a Program grant, but ICB&DD is very well focused on biomedical research and therefore becomes eligible to receive Program grant(s). As a "Center of Excellence" ICB&DD is also eligible to receive $2-3 M NCRR grant(s) for facility improvements such as laboratory/office renovations in addition to the State funds for renovations on campus. Since this is the creation of a new "Center of Excellence" facility, Stony Brook may be eligible to receive State funds for such an initiative. Because ICB&DD includes drug discovery, numerous inventions will be made, which will be patented for further development. Through close collaboration with the Technology Transfer Office, these inventions will be licensed to pharmaceutical firms. In addition, due to the very timely and practical nature of the Institute, it may be able to raise funds from pharmaceutical and biotechnology firms in the form of research contracts and fellowships. In fact, depending upon the projects, ICB&DD may lure substantial funding from industrial firms. Once highly promising therapeutic drug candidates are identified, ICB&DD can readily collaborate with CILI and other SOM/HSC departments to carry out preclinical studies on campus. This will substantially increase opportunities for major licensing to pharmaceutical firms for human clinical trials. Like Dr. Coller's "ReoPro", some of such drugs may become major commercial drugs, which could bring in millions of dollars in royalties to the Institute and campus. In sharp contrast to CMM, ICB&DD will focus on biomedical and medicinal inventions. Thus, CMM will become more attractive when it has ties with the Institute. ICB&DD is an ideal organization to acquire a NIH Training Grant in Chemistry and Biology as well as related subjects. With such a training grant, ICB&DD will be able to lure high caliber graduate students from domestic pools.
Consequently, the ICB&DD is an excellent investment opportunity for Stony Brook in many respects.