[2] In November 2023, Carnegie Mellon named the department as the Ray and Stephanie Lane Computational Biology Department, in recognition of the Lanes' significant investment in computational biology at CMU.

The accolades of its faculty (current and former) include leadership roles such as president of the National Science Foundation[4] and the International Society of Advanced Cytometry,[5] and as membership in the National Institutes of Health Council of Councils.

As part of the HHMI-NIBIB Interfaces Initiative,[10] CBD received funding from Howard Hughes Medical Institute[11] and the National Institute of Biomedical Imaging and Bioengineering (NIBIB)[12] to develop an interdisciplinary Ph.D. program in computational biology with the University of Pittsburgh, which was founded as the Joint CMU-Pitt Ph.D.

[14] CBD is the home of an NIH Center for the HuBMAP Integration, Visualization & Engaging (HIVE) Initiative[15] led by Ziv Bar-Joseph and an NIH Center for Multiscale Analysis of 4D Nucleome Structure and Function by Comprehensive Multimodal Data Integration[16] led by Jian Ma.

CBD houses the Center for AI-Driven Biomedical Research (AI4BIO) at CMU, a catalyst for innovations at the intersection of AI and biomedicine across the School of Computer Science and campus.