This week’s Weekender focuses on the promise of continued innovation…
BioNJ applauds Governor Chris Christie who approved biosimilars legislation on Tuesday. As a result of the signing of this bill, New Jersey patients will now have access to these life-saving medications while knowing that their safety is protected. Because biosimilars can never be exact replicates of a biologic drug, the legislation put in place guarantees of transparency in the prescription process while preserving the patient-physician relationship, thereby ensuring patient safety.
On Monday, Governor Christie signed off on legislation allowing New Jersey residents to invest in New Jersey-based companies. The law, which offers startups, innovators and entrepreneurs the opportunity to seek up to $1 million in private investment, is empowering for New Jersey’s ever-growing life sciences ecosystem. This is a new resource for start-ups to acquire capital and build upon the outstanding medical innovation that the Garden State is known for.
BioNJ Member Elusys Therapeutics, a biomedical research firm based in Pine Brook, has been granted a $44.9 million contract from the federal government to further develop its anthrax drug.
As we get closer to the end of 2015, numerous BioNJ Members continue to report strong third quarter results with many new drugs in the pipeline, clinical trials underway and FDA approvals anticipated. With 44% of all FDA approvals in 2014 coming from companies’ with a footprint in New Jersey, we can expect another exceptional year for New Jersey’s vibrant life sciences ecosystem. Because, Patients Can’t WaitSM.
Click here to read this week’s Weekender.