Empire Discovery Institute Inc.

The Empire Discovery Institute Inc. (EDI) is a non-profit drug discovery and development accelerator based in New York State. Established as part of the state’s life science initiative, EDI aims to bridge the gap between academic innovation and commercial translation in the life sciences sector[4][5].

History and Background

EDI was founded through collaboration with top research institutions including the University at Buffalo, Roswell Park Comprehensive Cancer Center, and the University of Rochester. This partnership is supported by an initial grant from Empire State Development, valued at $35.4 million, and is part of Governor Cuomo's Life Science Initiative[4][5].

Mission and Activities

The mission of EDI is to accelerate the development of promising scientific discoveries into breakthrough treatments and cures. It focuses on overcoming key challenges faced by life science researchers, such as limited funding and lack of pharmaceutical industry expertise, by providing critical support during the early stages of drug development[4].

EDI offers several programs and initiatives, including the Medicines Discovery Award Program (MDAP), which supports early-stage drug discovery projects with funding and industry expertise. Successful projects can exit as licensing transactions to pharmaceutical partners or as EDI-created startup companies[4].

Leadership and Funding

As of 2025, Empire Discovery Institute is led by Dr. Ronald Newbold, who serves as CEO. Dr. Newbold has a strong background in business development and alliance management, having previously worked at companies such as Pfizer and Otsuka America Pharmaceuticals. Under his leadership, EDI has expanded its pipeline and secured significant funding to support its mission[2][3].

In recent years, EDI received significant funding, including an award of $791,933 from Fast Forward, the commercial arm of the National Multiple Sclerosis Society, to support research into novel treatments for multiple sclerosis[1].

Financial Overview

According to its financial reports, EDI's revenue sources include contributions and program services, with a notable increase in investment income in recent years. The organization's assets have grown significantly, reflecting its expanding role in the life sciences ecosystem[3].

Impact

Empire Discovery Institute plays a crucial role in fostering a vibrant biotech start-up community in New York State. Its collaborative model helps in expediting the development of new pharmaceuticals and supporting vital research efforts in the region[4][5].