Industry News and Notes – November 2011

Trenton Report

State Approves $60 million to Grow Biotech/Tec Industries in New Jersey

TRENTON — Supporting the Christie Administration’s commitment to economic development and job growth, the New Jersey Economic Development Authority (EDA) on November 14 announced that 75 emerging biotechnology and technology businesses have been approved to share the $60 million allocation available through the State of New Jersey’s innovative Technology Business Tax Certificate Transfer Program. Governor Christie’s Fiscal Year 2012 budget increased funds by $30 million over last year’s allocation.

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Governor Chris Christie Announces Global Healthcare Company Allergan, Inc., Chooses New Jersey as Home for New Research and Development Facility

TRENTON — Governor Chris Christie on November 7 announced that Allergan, Inc., plans to open a new research and development facility in New Jersey that will create several hundred new jobs over the next 3 to 5 years and inject an estimated $12 million of private investment into the state’s economy. The announcement is another success for New Jersey and the result of Governor Christie’s pro-growth agenda to create jobs, spur economic development, and improve the state’s climate for business investment and growth.

Allergan is a global, technology-driven multi-specialty healthcare company with approximately 10,000 employees worldwide and a presence in more than 100 countries. Governor Christie and Lt. Governor Guadagno have worked aggressively to attract businesses to New Jersey, including Allergan, and to bring quality jobs to New Jersey. Governor Christie met with Allergan officials in September to discuss the company’s expansion plans and New Jersey’s strengths as a destination for their research and development facility.

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Washington Report

BIO Expresses Strong Support for Timely Reauthorization of PDUFA

WASHINGTON, DC — The Biotechnology Industry Organization (BIO) on October 24 provided a statement of support for the Prescription Drug User Fee Act (PDUFA) V recommendations during a public meeting hosted by the U.S. Food and Drug Administration (FDA).

In the statement, BIO Managing Director of Science and Regulatory Affairs Andrew Emmett expressed strong support for the PDUFA V recommendations as they will enhance the drug development and review process through increased transparency and scientific dialogue, advance regulatory science, strengthen post-market surveillance, and provide patients and doctors with earlier access to breakthrough therapies.

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BIO Praises Passage of Small Company Capital Formation Act

WASHINGTON, DC — The Biotechnology Industry Organization (BIO) said that it strongly supports the Small Company Capital Formation Act (HR 1070), sponsored by Rep. David Schweikert (R-AZ), which passed the House on November 2 by a vote of 421-1.

This act would reform the Security and Exchange Commission’s (SEC’s) current Regulation A (“Reg A”) by allowing companies that plan to sell up to $50 million in shares as part of a public offering to be exempt from registering with the SEC. Currently, companies must register with the SEC if they issue more than $5 million in shares.

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News from Our Colleges and Universities

Celebrate Princeton Invention on December 8

Great inventions begin with brilliant thinkers. This year, Princeton University will honor 300 faculty members, research professionals, and students who developed their ideas in its laboratories on Thursday, December 8, from 5:00 to 8:00 p.m., at the Chancellor Green.

An evening of exchange, Celebrate Princeton Invention 2011 is an opportunity for entrepreneurs, investors, and corporate partners to explore these fresh ideas and freely meet with the thinkers behind them. It is also an opportunity to create new relationships and recognize Princeton’s collaborators in the business community.

The event will include remarks by University President Shirley M. Tilghman; Dean for Research A.J. Stewart Smith; and Erik Holmlin, President and CEO of Philadelphia-based BioNanomatrix, a company founded with technology licensed exclusively from Princeton. Among the honorees will be seven teams of inventors exhibiting their technologies.

Registration: There is no registration fee, but advanced registration for the evening is required as space is limited. Those wishing to attend are encouraged to register online.

To register, or for more information about the event, contact Lucy Weise at Conference and Event Services, Princeton University, by telephone 609-258-1741, fax 609-258-4656, or email.

UMDNJ Office of Technology Transfer Quarterly Newsletter

The UMDNJ Office of Technology Transfer and Business Development releases a quarterly newsletter to inform both industry and academia about the tech transfer process and opportunities to work with UMDNJ researchers. Please click here to read the latest newsletter.

Rutgers CMD Offers Leadership and Management Programs

Rutgers Center for Management Development (Rutgers CMD) leadership and management certificate programs offer training for every career level, from new supervisors to those in executive-level roles. Registration is currently under way for spring 2012!

Although it is recommended that you complete the entire certificate, the leadership and management workshops are designed to focus on a specific area of development. Therefore, participants may elect to focus on individual workshops to improve their skills. For more information, visit their website.

New Jersey Inventors Hall of Fame Honors Rutgers Researchers and Alumnus

NEW BRUNSWICK, NJ — The New Jersey Inventors Hall of Fame honored 20 individuals at its October 27 annual awards dinner, including three Rutgers faculty members and an alumnus.

Pal Maliga, professor of plant biology, and Daniel Murnick, professor of physics at Rutgers-Newark, were honored with the Inventor of the Year Award. That honor also went to Dorin Comaniciu, a scientist with Siemens Corporate Research, who received his doctorate from Rutgers in 1999.

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Items of Note

Reilly and Baird Lauded as Top CFOs by NJBIZ

Congratulations to Dennis P. Reilly, vice president of finance and human resources at NeoStrata Company Inc. in Princeton, and Chip Baird, CFO of PTC Therapeutics, Inc., in South Plainfield, for being recognized as outstanding financial executives by NJBIZ at its CFO of the Year Awards program on October 25.

The CFO of the Year Awards program celebrates New Jersey’s financial executives at all levels who contribute to the success of New Jersey’s economic growth and stability. Finalists were selected in seven categories: Public Company, Private Company with revenues over $50MM, Private Company with revenues up to $50MM, Nonprofit CFO – Small (24 or fewer employees), Nonprofit CFO – Large (25 or more employees), Best Turnaround Specialist, and Best Growth Manager.

Dennis Reilly took the top prize in the Private Company category (revenues up to $50MM), and Chip Baird was recognized as one of seven top finalists in the category.

Helsinn CEO Recognized by Ernst & Young

Ricardo Braglia, CEO of Helsinn Holding SA, was honored on November 2 as one of the three best entrepreneurs in Switzerland by Ernst & Young, being recognized in the High Tech/Life Sciences category. Helsinn Holding is the parent company of BioNJ Member Company, Helsinn Therapeutics, USA.

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