The hope, its founders say, is to create an international hub for research involving the human genome and to thrust New York into the forefront of the emerging genomics market, a $7.4 billion industry.
The collaborative effort is to be announced Thursday. The facility will be in Manhattan in the IAC Building at 555 W. 18th St.
The center's aim is to help usher in a new era in biomedical research and speed the development of personalized medicines, which are based on the genetic profiles of individuals, officials involved with the center say.
The center's launch comes as a substantial portion of its $125 million start-up cost has already been committed from public and private sources.
Other founding institutions include: Columbia University, Cornell University/Weill Cornell Medical College, Memorial Sloan-Kettering Cancer Center, Mount Sinai School of Medicine, NewYork-Presbyterian Hospital, New York University/NYU Langone Medical Center, The Rockefeller University and The Jackson Laboratory in Maine.