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Governor Cuomo Announces Continued Growth At Roswell Park Cancer Institute With Regional Economic Development Council Funding; RPCI Center For Personalized Medicine Established With CTG (NASDAQ: CTGX) Serving As Its Technology Partner

Stocks in this article: CTGX

ALBANY, N.Y., Jan. 31, 2013 /PRNewswire/ -- Governor Cuomo announced yesterday that a strategic biotechnology project in Western New York, initially funded through the Regional Economic Development Councils, is expanding successfully, leveraging additional private investments for further growth and strengthening the regional economy. The Center for Personalized Medicine (CPM), an extension of Roswell Park Cancer Institute (RPCI), has leveraged $18.5 million in additional investments from an initial State investment of $5.1 million. The new Center treats cancer patients with personalized medical care and also creates a resource that scientists and medical providers can use for applications across the spectrum of clinical care, to the benefit of healthcare consumers all over the United States.  

" New York State has proved today that recognizing and investing in each region's unique resources and strengths leads us to economic growth," Governor Cuomo said. " Western New York has a thriving health and life sciences industry cluster, which the Western New York Regional Economic Development Council and Roswell Park Cancer Institute recognized. Through the Regional Council process, they created a custom-tailored plan to take advantage of this opportunity, which will rebuild the regional economy."

Roswell Park Cancer Institute received $5.1 million in State assistance for this project through the Western New York Regional Council in December 2011. A centerpiece of the Governor's strategy to jumpstart the economy and create jobs, Regional Economic Development Councils were put in place in 2011 to redesign the state's approach to economic development from a top-down model to a community-based, performance-driven approach. The initiative empowers community, business, and academic leaders, as well as members of the public in each region of the state, to develop strategic plans specifically tailored to their region's unique strengths and resources in order to create jobs and support economic growth.

Lieutenant Governor Robert Duffy, Chair of the Regional Economic Development Councils said, "I commend the members of the Western New York Regional Economic Development Council for their countless hours and dedication in determining what strategies fit this region best. Together with Governor Cuomo, we have traveled to every region of the state to discuss these plans with local communities and now we are witnessing the incredible results of job creation and economic growth. I congratulate Roswell Park Cancer Institute for its success and look forward to continued statewide Regional Economic Development Council progress and future life science initiatives."

The new Center in Buffalo represents the region's first resource for next-generation gene sequencing to meet federal Clinical Laboratory Improvement Amendments (CLIA) standards. In addition to the $5.1 million received from the State, RPCI has invested $16 million in equipment and infrastructure. Computer Task Group, a national leader in healthcare information technology, has pledged another $2.5 million toward the Center. Additional collaborators include the University at Buffalo, IMMCO Diagnostics and Western New York Urology Associates LLC.

The combination of high-throughput and personal gene sequencers in the Center, along with its dedicated 1,600-processor supercomputing cluster, will allow RPCI and its collaborators to analyze individual genomes — a person's unique genetic code, representing the full set of DNA that we inherit from our parents — shedding light on key factors that drive medical care.

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