Capstone Partners advised Lovelace Biomedical Research Institute—a not-for-profit biomedical research organization—on its affiliation with New York Medical College, a member of the Touro College and University System.
Lovelace Biomedical Research Institute is located in Albuquerque, New Mexico, and was founded as Lovelace Respiratory Research Institute in 1947. The Institute is noted for its preeminence in respiratory disease and neuroscience research, animal toxicology, drug development, and in its efforts to protect the nation against chemical, biological, and nuclear threats.
Lovelace has three campuses in Albuquerque comprising over 375,000 square feet of contract research lab space and receives more than $70 million per year in revenue from grants and contracts. The Institute annually publishes diverse and timely research papers and conducts symposia on a wide variety of topics. It employs over 400 scientists, physicians, veterinarians, and researchers in multiple disciplines.
The COVID pandemic struck while we were taking LBRI to market and elongated our process substantially. Capstone Partners persevered throughout the transaction process and provided guidance and support throughout. We could not have achieved this favorable outcome for the future of Lovelace without the input we received from the team at Capstone.
“We are looking forward to collaborating with Touro on research projects increasingly over time,” continued Dr. Robert Rubin, President and CEO at Lovelace. “This new affiliation will provide long-term stability and new opportunities to expand our mission as we join with an academic medical center. The Institute leadership is excited at this new opportunity to advance our mission to improve public health.”
Mike Ewing, Managing Director at Capstone, commented, “The many unique aspects of the Lovelace Biomedical model and the effect of the COVID-19 pandemic presented multiple challenges to our role as advisor in the completion of this project. We incorporated and deployed multiple elements of Capstone’s offering while coping with the difficulties presented to the Institute to maintain scientific and clinical research standards. NYMC provides an ideal environment for LBRI to continue to thrive and provide mission-critical services to its current and future clients.”
Founded in 1860 in Valhalla, NY, New York Medical College is one of the oldest and largest health sciences colleges in the United States. The school provides a wide variety of clinical training opportunities for students, residents, and practitioners and offers degrees from the School of Medicine, the Graduate School of Basic Medical Sciences, the School of Health Sciences and Practice, as well as a school of dental medicine and a school of nursing.
The Touro College and University system is a private Jewish university system headquartered in New York City, with branches throughout the United States as well as in Germany, Israel, and Russia. Its main campus in New York City is one of the largest private Jewish universities in the United States. Serving over 19,000 students across more than 30 undergraduate, graduate, and professional schools, Touro is a leader in healthcare education.
“Touro is thrilled that Lovelace will be joining our university. This affiliation will significantly impact our research capability and expand our capacity to make a difference in the health and lives of Americans. Together with Lovelace, Touro will be able to bring in-depth understanding of potential health risks and optimize the efficacy of pharmaceuticals,” said Dr. Alan Kadish, president of Touro and NYMC.
“We also plan to leverage the Lovelace clinical trial infrastructure to run a TOURO/NYMC centralized clinical trials research office. Our NYMC faculty will serve as M.D. advisors for Lovelace clinical trial research and provide basic science support in infectious disease,” continued Kadish.
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