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EMPIRE DISCOVERY INSTITUTE INC

ROCHESTER, NY · EIN 823993697 · Form 990 · FY2024 · NTEE C60 · Environment · Large ($10M-$50M) · discoveredi.org
revenue
$13.2M
expenses
$5.1M
net assets
$11.7M
employees
0
volunteers
12
program ratio
74%
mission · from form 990

THE PURPOSE OF THE INSTITUTE IS TO ENGAGE IN CHARITABLE AND SCIENTIFIC ACTIVITIES FOR THE BENEFIT OF THE ACADEMIC, MEDICAL AND RESEARCH INSTITUTIONS AND PUBLIC BENEFIT CORPORATIONS AFFILIATED WITH AND CONTROLLING THE INSTITUTE. TO FOSTER AN EDUCATIONAL ECOSYSTEM IN UPSTATE NEW YORK FOR TRAINING THE NEXT GENERATION OF SCIENTISTS AND BUSINESS LEADERS, AND SUPPORT UPSTATE NEW YORK'S REGIONAL ECONOMY AND TO ACCRUE LIFE SCIENCES ECONOMIC DEVELOPMENT BENEFITS TO UPSTATE NEW YORK THROUGH THE CREATION OF A RESEARCH AND BUSINESS INITIATIVE FOCUSED ON ACCELERATING TRANSLATIONAL RESEARCH GENERATING INNOVATIVE PROOF-OF-CONCEPT STUDIES AND ADVANCING THE SCIENTIFIC AND EDUCATIONAL ACTIVITIES OF THE INSTITUTIONS' FACULTY, FELLOWS AND STUDENTS IN ASPECTS OF CHEMISTRY, PHARMACOLOGY AND DRUG DISCOVERY AND FACILITATING THE CREATION OF STARTUP COMPANIES AND OTHER SPINOFF INITIATIVES, AND ENGAGING EXCLUSIVELY IN SUCH OTHER CHARITABLE AND SCIENTIFIC ACTIVITIES.

profile · synthesized from sources

Empire Discovery Institute Inc is a nonprofit research and innovation organization based in Rochester, NY, focused on advancing translational research in chemistry, pharmacology, and drug discovery. It supports the development of startup companies and scientific training in Upstate New York, working closely with academic and medical institutions. The institute fosters economic development in the life sciences sector through research acceleration and commercialization initiatives.

named programs · 3 · from sources

What they call their work

Innovation Matching Grants Program
Supports New York-based small businesses in commercializing R&D by providing up to $200,000 in matching grants for companies that receive federal SBIR/STTR awards, focusing on life sciences, AI, and advanced manufacturing
Startup and Spinoff Facilitation
Supports the creation of new biotechnology and life sciences companies through intellectual property development, business strategy, and access to funding networks
Translational Research Acceleration
Advances proof-of-concept studies in chemistry, pharmacology, and drug discovery, facilitating the transition of academic research into commercial applications and startup formation
activities · 8 groups

What they do

  • Medical Research Funding 3 activities
    • Funding translational research through ED3 partnership
      Funds translational research via the ED3 partnership, which has allocated up to $65 million to accelerate the development of novel therapeutics. This includes financial support and strategic collaboration to advance academic discoveries toward clinical application.
    • Operating Medicines Discovery Award Program (MDAP)
      Operates the Medicines Discovery Award Program (MDAP), a competitive incubator and accelerator that provides up to $7.5 million in total program support over five years to advance early-stage drug discovery from investigators at the University at Buffalo and the University of Rochester. Projects are advanced through tailored work plans, milestone-driven funding, and sponsored research arrangements, with successful outcomes including licensing or formation of startup companies.
    • Providing funding for early-stage drug discovery projects
      Provides financial support ranging from $300,000 to $5 million over five years (subject to annual review) for early-stage drug discovery projects. Total program support across initiatives can reach up to $10 million per selected program, with funding tied to milestone achievement and scientific progress.
  • Research and Scholarly Fellowship Support 1 activity
    • Building scientific and translational research capacity in Upstate New York
      Fosters an educational and research ecosystem in Upstate New York by training scientists and business leaders, supporting academic and medical institutions, advancing translational research in pharmacology and chemistry, and enabling the creation of spinoff companies. This includes co-founding the institute through a $47 million partnership among major research institutions and Empire State Development.
  • Diabetes and Kidney Disease Research Funding 1 activity
    • Co-founding and managing LeapRx initiative
      Co-founded the LeapRx initiative in 2022 to support the translation of academic research into therapeutics for cardiometabolic diseases through funding, expert guidance, and project acceleration. The initiative includes collaborations with McMaster University and the Research Institute of St. Joe's Hamilton on diabetic kidney disease and obesity.
  • Neurological Disorder Research & Rehabilitation 1 activity
    • Conducting targeted research in neurological and immune-mediated diseases
      Conducts research on multiple sclerosis, Charcot-Marie-Tooth disease, Krabbe leukodystrophy, and cardiovascular disease. Activities include identifying molecular targets for remyelination inhibition in MS, studying hereditary neuropathies, developing stem cell-derived organoids to model Krabbe disease, and investigating arterial stiffness using in vitro and in vivo models.
  • Startup Acceleration & Business Growth Support 1 activity
    • Creating spinout companies from academic research
      Facilitates the creation of startup companies based on academic drug discovery projects, having established four spinout companies to date. Provides commercial path guidance, milestone-driven planning, and access to industry expertise to support asset development and commercialization.
  • Biomedical Research and Innovation 1 activity
    • Managing drug discovery pipeline and academic partnerships
      Advances a portfolio of 13 active drug discovery programs and preclinical-stage therapeutics across multiple therapeutic areas—including cancer, autoimmune disease, cystic fibrosis, and rare diseases—through academic-industry collaborations. The organization reviews proposals, assigns scientific teams, and manages projects via contract research organizations and specialty providers.
  • Recognition and Awards Programs 1 activity
    • Recognizing scientific leadership and innovation
      Honors scientific excellence through institutional recognition, such as the naming of senior researcher Sathy Balu-Iyer as a 2025 Fellow in the National Academy of Inventors, highlighting contributions to innovation in drug discovery and development.
  • Uncategorized 2 activities
    • Delivering graduate training in biologics development
      Creates and teaches a graduate course in Biologics Development that trains students in developing biotechnology products for rare diseases and other therapeutic areas. Alumni have gone on to found biotechnology companies, demonstrating the program’s impact on workforce and entrepreneurial development.
    • Securing and administering external research funding
      Secures and manages external research grants from federal and private sources, including over $5 million from the National Heart, Lung, and Blood Institute, $639,543 in R56 funding (with $2.27 million R01 follow-on) from NIH, and awards from the National MS Society and National Institute of Allergy and Infectious Diseases to support drug development and protein therapeutic efficiency research.
financials · form 990 · fy2024
revenue
Total revenue$13.22M
Contributions & grants$11.31M86%
Program service revenue$1.69M13%
Investment income$224K2%
Other revenue$0
expenses
Total expenses$5.11M
Program expenses74%
Admin / overhead26%
Fundraising0%
Salaries & benefits$920K
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$12.77M
Cash$11.96M
Investments$0
Liabilities$1.11M
Net assets$11.66M
Liquid reserves28.1 mo
5 years on record · 2020–2024 · YoY revenue +5526.9%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 3
NameTitleHours/wkCompensation
RONALD C NEWBOLD CEO 40 $407K
ADAM TULGAN COO (TO 10/31/25) 40 $227K
MOLLY MESKO DIR OF PORTFOLIO DEVEL & ADMINISTRATION 40 $156K
board members · 10
  • DR CANDACE JOHNSON — BOARD MEMBER
  • DR RENIER BRENTJENS — BOARD MEMBER/CHAIR OF DEPT OF MEDICINE
  • DR THOMAS SCHWAAB — BOARD MEMBER (TO 3/1/24)
  • DR VENU GOVINDARAJU — BOARD MEMBER
  • GARY POLLACK — BOARD MEMBER
  • MARK KERCHER — BOARD MEMBER
  • PETER ROBINSON — BOARD MEMBER, CHAIR
  • ROBERT FRAASS — BOARD MEMBER
  • STEPHEN DEWHURST — BOARD MEMBER
  • STEPHEN MCCLUSKI — BOARD MEMBER
relationships · 51

Who they work with

  • Academic, Medical and Research Institutions and Public Benefit Corporations affiliated with and controlling the Institute Partner — Collaborates with affiliated academic, medical, and research institutions and public benefit corporations to advance scientific and educational activities and support economic development in Upstate New York.
  • Anna Blumental, PhD Partner — Principal investigator for EDI-M420, an oligo/ASO therapeutic for a mitochondria energy platform.
  • Bing Gong, PhD Partner — Principal investigator for EDI-M410, a small molecule therapeutic for cystic fibrosis and cough.
  • Boston Children’s Hospital Partner — Collaborates on research using machine learning through co-investigator Kwonmoo Lee.
  • David Heppner, PhD Partner — Principal investigator for EDI-M418, a small molecule therapeutic for oncology.
  • Deerfield Management Company Partner — Translational research partner in the ED3 initiative to accelerate development of novel therapeutics.
  • Denise Hocking, PhD Partner — Principal investigator for EDI-M404, a peptide therapeutic.
  • Doug Anderson, PhD Partner — Principal investigator for EDI-M406, a circular RNA therapeutic for hemophilia A.
  • Empire Discovery Institute Funder — Provided research funding through the Medicines Discovery Award Program (MDAP) to support investigations into oral tolerance mechanisms.
  • Empire Discovery Institute Partner — Partnering on research to identify therapeutic targets for myelin-related diseases including multiple sclerosis and Charcot-Marie-Tooth disease.
  • Empire State Development Government — Government partner that co-launched Empire Discovery Institute with academic institutions.
  • Empire State Development Government — Primary funder providing multiple tranches of funding, including $11.1 million.
  • Empire State Development Government — State agency partner providing funding in a $47 million collaboration to form Empire Discovery Institute.
  • Fraser Sim, PhD Partner — Principal investigator for EDI-M401, a small molecule therapeutic for multiple sclerosis and oncology.
  • Greg Steinberg, PhD Partner — Principal investigator for EDI-L214 and EDI-L215, obesity-related therapeutics using undisclosed modality and siRNA.
  • Jacobs School of Medicine and Biomedical Sciences Partner — Hosts multiple collaborators including Vincent M. Tutino, John M. Canty Jr., and Wade J. Sigurdson, contributing expertise in animal models, cardiovascular medicine, and imaging.
  • Jim Mohler, MD Partner — Principal investigator for EDI-M403, a small molecule therapeutic for prostate cancer.
  • Joan Krepinsky, MD Partner — Principal investigator for EDI-L213, a peptide therapeutic for diabetic kidney disease (DKD).
  • Joe Balthasar, PhD Partner — Principal investigator for EDI-M407, an antibody therapeutic for oncology.
  • Lynne Maquat, PhD Partner — Principal investigator for EDI-M409, a small molecule therapeutic for NMD platform.
  • McMaster University Partner — Collaborating institution in the LeapRx Initiative for drug development.
  • McMaster University Partner — Participating institution in the LeapRx initiative, leading research projects on diabetic kidney disease and obesity.
  • National MS Society Funder — Provider of commercial funding award for drug development research.
  • Novo Nordisk Partner — Co-founded the LeapRx initiative with Empire Discovery Institute to advance academic research in cardiometabolic diseases.
  • Novo Nordisk Partner — Jointly operates the LeapRx Award incubator and accelerator program with Empire Discovery Institute.
  • Novo Nordisk Partner — Multi-year partnership through the LeapRx™ initiative.
  • Novo Nordisk Partner — Research partner in drug discovery and development.
  • Novo Nordisk Bio Innovation Hub Partner — Collaborating partner in the LeapRx program
  • Rakesh Singh, PhD Partner — Principal investigator for EDI-M408, a small molecule therapeutic for oncology.
  • Research Institute of St. Joe's Hamilton Partner — Participating institution in the LeapRx initiative, collaborating on research projects related to diabetic kidney disease and obesity.
+ 21 more
strategies · 4

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Academic-Industry Translational Partnership Model
    methodology: academia-industry_translation
    By operating at the interface of academia and industry and forming collaborative partnerships with research institutions, hospitals, and pharmaceutical companies, the institute accelerates the translation of early-stage discoveries into therapeutics, because integrating scientific expertise with commercial R&D knowledge bridges the "valley of death" in drug development.
  • Integrated Molecule-to-Marketplace Development Pathway
    methodology: molecule-to-marketplace
    By following an end-to-end "molecule to marketplace" approach, the institute bridges early-stage research with commercialization, because integrating translational research, business development, and education creates a cohesive pipeline that enables scientific discoveries to become viable medicines and drives regional economic development.
  • Market-Back, Science-Forward Evaluation Framework
    methodology: market-back_science-forward
    By evaluating academic drug discovery proposals through a dual lens of commercial potential ("market-back") and scientific feasibility ("science-forward"), the institute selects high-impact projects most likely to advance through development and achieve real-world translation, because aligning innovation with market needs increases de-risking and investor attractiveness.
  • Milestone-Driven Project Acceleration
    methodology: milestone_based_funding
    By linking continued funding to performance through milestone-based, annually reviewed work plans, the institute ensures disciplined progression of research projects, because tying advancement to measurable outcomes increases accountability and de-risks development for future investment.