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New York Medical College Welcomes Two New BioInc Tenants

SHY Therapeutics and MediSprout Join NYMC’S Innovative Biotech Incubator

Valhalla, N.Y., November 10, 2015— New York Medical College (NYMC) today welcomed two new tenants—SHY Therapeutics and MediSprout—to BioInc@NYMC, Hudson Valley’s only biotechnology incubator operating with the aim of finding new ways to prevent and treat human disease and disability, a mission that is shared with the tenants the incubator currently houses and attracts.

SHY Therapeutics is involved in therapeutic product research, and MediSprout is a telehealth solution that provides medical offices with online communication tools for their patients to instantly connect with clinicians and schedule virtual visits. The two companies join BioInc@NYMC’s existing tenants, which include:

• Four LLC—a nutrition, health and fitness consumer product company
• MOE Medical Devices LLC—a maker of cold electrical plasma therapeutics
• Conversion Energy Enterprises—a corporation that develops and prototypes laser products for medical applications

“BioInc@NYMC continues to thrive with the addition of SHY Therapeutics and MediSprout,” said Randi D. Schwartz, M.B.A., interim director of BioInc@NYMC and associate dean for academic administration. “The cutting-edge research generated by both companies will supplement the innovative work already taking place at the incubator. BioInc continues to generate new knowledge about biomedicine, addressing the global health research shortage while serving as an economic engine for the local community.”

“In a world full of ever-increasing online interactions, MediSprout creates a mutually beneficial outcome that offers access and convenience to patients while creating efficiency and revenue for physicians,” said Samant Virk, M.D., MediSprout founder and CEO. “It is easy to implement, cost-effective and scalable, and stands out because its connectivity is both a consumer and enterprise-facing solution. We look forward to tying into other groundbreaking technology at BioInc to open a new world of possibilities in health care delivery.”

“We are excited to join BioInc@NYMC and be part of the growing group of innovative companies already working in the incubator” said Yaron Hadari, Ph.D., co-founder and CEO of SHY Therapeutics. “We are convinced that the supportive environment in the incubator will help SHY to develop its future therapeutics products.”

A top regional economic priority from 2011 to 2013, BioInc@NYMC is a public-private enterprise, combining resources from the federal government, New York State, Westchester County and NYMC, and is the only incubator of its kind in the region that is directly co-located with a health sciences college campus. Its convenient location, with its proximity to New York City, allows NYMC to go beyond providing start-ups with affordable space, giving them access to invaluable resources, such as cutting-edge core facilities with wet lab space, shared resources, collaboration with scientists and clinicians, and sponsored professional services to promising entrepreneurs and start-ups.

Additionally, BioInc@NYMC assists members in refining business strategies, conserving capital, building strong teams and achieving development and funding milestones. It has been approved by Start-Up NY and has received the multi-year Mid-Hudson Innovation Hot Spot award granted by the New York State Regional Economic Development Council.

Launched in October 2014, BioInc@NYMC occupies a 10,000-square-foot wing of a 129,000-square-foot campus building. An initial build-out of 4,500-square-feet with finished laboratories, offices and shared infrastructure is ready for immediate occupancy. Development of the remaining space is planned to proceed as the initial spaces are filled. Additional available space in the same building (50,000 to 60,000 square feet) is ideal for future growth of the incubator or related biomedical research activities.

About New York Medical College
Founded in 1860, NYMC is one of the oldest and largest health sciences colleges in the country with more than 1,400 students, 1,300 residents and clinical fellows, nearly 3,000 faculty members, and 19,000 living alumni. The College, which joined the Touro College and University System in 2011, is located in Westchester County, New York, and offers advanced degrees from the School of Medicine, the Graduate School of Basic Medical Sciences, and the School of Health Sciences and Practice. The College manages more than $32.6 million in research and other sponsored programs, notably in the areas of cancer, cardiovascular disease, infectious diseases, kidney disease, the neurosciences, disaster medicine, and vaccine development. With a network of affiliated hospitals that includes large urban medical centers, small suburban clinics and high-tech regional tertiary care facilities, NYMC provides a wide variety of clinical training opportunities throughout the tri-state region for medical students, residents, and other health providers.