‘Exponential’ Bio/Med Growth
“With some of the work that’s going on in New York State, this industry has got a lot of new and exciting opportunities over the next three to five years.”
Headquarters: Lacona, NY
Description: BioSpherix specializes in CYTOCENTRIC™ technology, a new and better way to grow and manipulate cells in-vitro. The Xvivo System™ is the first and only cell culture and processing system designed from the ground up for cells. Cytocentric-by-design eliminates the handicaps inherent in conventional equipment designed for people. Biospherix also manufactures equipment like incubators, hoods, and glove boxes to meet any specific cell need.
NYS Employees: 60
More collaboration among small companies, better partnerships with academia and bigger tax breaks would drive growth in bioscience and medical technology (Bio/Med) in New York State.
BioSpherix President Mike Bovalino counts the company as a proponent in these three improvements. The 60-person operation in Central New York’s Oswego County specializes in stem cell research and a mobile clean room alternative called Xvivo SystemTM.
“My view on the bioscience industry, both within the state and worldwide, is it’s growing exponentially,” Bovalino said. “We have a niche market with stem cells, stem cell therapy and stem cell research.”
BioSpherix manufactures lab equipment including incubators, hoods and gloveboxes.
“In our niche market, it’s a good place to be. It’s a good time to be in it. And we really see some robust opportunities over the next five to 10 years,” Bovalino said.Niche companies need to work together to put the state on par with booming bioscience scenes in Texas and California, he said. Workforce development – attracting engineering and marketing talent in particular – presents a challenge not uncommon to New York.
At the same time, New York State uses workforce development as an advantage given the well-educated pool of talent produced at many universities here. Better relationships with those institutions would guide more New York State companies to success, Bovalino said.
BioSpherix partners with SUNY Upstate both in research and equipment. Not only will SUNY Upstate use the Xvivo SystemTM in the lab, but BioSpherix will also be sharing their in-house research findings with the university.
BioSpherix also works with a number of universities in Ontario and Quebec, Canada, to develop talent with specific skill sets that apply to stem cell research and therapy. The company also looks outside New York in its collaboration with Ohio’s Case Western University and the Cleveland Clinic, which will soon be utilizing BioSpherix’s Xvivo System technology.
“With some of the work that’s going on in New York State, this industry has got a lot of new and exciting opportunities over the next three to five years,” Bovalino said. “If we’ve got the right people who can continue to be competitive in New York State, they’re going to reap some of the benefits.”