The treatment of mental health is an important
issue around the world. Here at Intra-Cellular Therapies we are developing new drugs for
the treatment of schizophrenia, bi-polar disorder, Alzheimer’s disease, Parkinson’s disease,
and other diseases of the brain. We started our company to develop technologies from the
laboratory of Dr. Paul Greengard at Rockefeller University who had just received a Nobel Prize.
When we started our company there were very few biotech companies here in New York City.
We started in 2002 with early funding from the Partnership Fund and venture capitalists.
Today, we are a public company. One of the things that I love about New York City is
the ability to attract talent. Early on we had collaborations with Rockefeller, Columbia,
Cornell, NYU, Hunter. All the institutions in New York. One of the largest untapped assets
that New York City has is the biomedical research in our universities. We have some of the smartest
scientists doing some of the most interesting cutting edge work. When that science is commercialized,
when it leaves the university that commercialization of that technology happens outside New York
City. We’ve been working with the city and with the state do create the conditions so
that commercial biotech or life science companies want to stay in the city. At Intra-Cellular
Therapies we’ve been able to achieve making new medicines that will impact people’s lives.
We are developing new drugs taht will have a better safety profile over what currently
exists and will be therapeutic against diseases for which there are no therapies presently.
When we started Intra-Cellular Therapies they Partnership Fund was very helpful to us. They’re
a very important advocate for life science companies in New York City. In our case they
supported us through several rounds of financing. The exciting thing that’s happened in the
last year and a half is the public sector has come to the table with a billion dollars
of incentives to support life sciences. Johnson & Johnson is bringing their JLABS incubator
to New York. Cambridge BioLabs is bringing their incubator to New York. So we now have
space for early-stage companies. If you are a scientist that’s looking to start a company,
there are a lot of resources for you and we would love to help you access some of them
and help you start your company and keep it here in New York City.