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Science group recognizes 3 research cos.

Business First of Buffalo

Three medical technology companies that were spawned via federal research funding and aided by the University at Buffalo have been noted on a list of success stories published by The Science Coalition.

The report, “Sparking Economic Growth: How federally funded university research creates innovation, new companies and jobs,” cites examples of companies that came about as the result of federal investments in basic research.
The three companies that developed with assistance from the University at Buffalo are:
    •    Buffalo BioBlower Technologies LLC
    •    Kinex Pharmaceuticals
    •    ONY Inc.

“Federal funding was essential to the startup of our company, Buffalo BioBlower Inc.,” said a statement from James Garvey, PhD, co-founder of the company. “There is no way that our company would even exist had we not received the $1.6 million in startup money from the Department of Defense.”

The Science Coalition said collectively the 100 companies employ more than 100,000 people and have annual revenues approaching $100 billion.