Crosstown Moves: Zeno Marketing
Corrections or additions?
These articles by Kathleen McGinn Spring and Barbara Fox were
prepared for the September 3, 2003
issue of U.S. 1 Newspaper. All rights reserved.
Life in the Fast Lane: iPhysicianNet Shuts Down
One more Internet company has quietly slipped away
into the corporate night.
Outside the iPhysicianNet office at 214 Carnegie Center, where eight
people once worked for the virtual pharmaceutical detailing company,
the appearances are business-as-usual: Two full water cooler jugs
are ready to be opened. Alongside the door, propped up against a
window,
is a take-out menu from Sultan Sushi. But a black message sign —
the kind with small white letters announcing daily happenings —
reads “Welcome, July 31.”
That date, as it turns out, was an auspicious one for the Scottsdale,
Arizona-based E-health company, which was founded in 1996 and
eventually
racked up at least $80 million in venture backing and partnerships
with 10 major pharmaceutical firms, including pharmaceutical/consumer
goods giant Proctor & Gamble, which signed on less than one year ago.
The company, had filed for, and then withdrawn, an IPO registration
statement in February, 1999. While it was not able to tap the public
markets, the company did very well in the private markets. After
pulling
its IPO, the company raked in tens of millions of dollars in three
major funding rounds. Participants included BioAsia Investments, Veron
International, Co-Investment 2000 Fund, Cordova Ventures, Far East
Capital Corp., MDS Capital, Fireman Fund Insurance, KBL Healthcare
Ventures, Patricof & Co. Ventures, Valley International, and Cardinal
Partners, a venture firm with offices at 221 Nassau Street in
Princeton.
The company’s business plan revolved around putting pharmaceutical
salespeople right on doctors’ desks — virtually, of course. The
idea was to give doctors computers and high speed Internet access
in exchange for a promise that they would chat with a representative
of each of its pharmaceutical partners once a month.
In all approximately 7,000 physicians agreed that the concept was
valuable enough to try out. But that wasn’t enough.
In a letter dated August 6, Peter Moriarty, the company’s chairman
and CEO, told shareholders that “. . . one of our major clients,
GlaxoSmithKline, notified us in June that it would be discontinuing
our service. This was totally unexpected, and devastating, news.”
As the company scrambled to pull in still more venture capital, Eli
Lilly pulled out too, informing the company that “the size of
our network (number of physicians) was not large enough.”
Still, iPhysicianNet did not give up hope. An investor was dangling
$5 million in further funding, but would only commit the funds if
other investors would join in. A scramble to find additional backers
followed; pharmaceutical partners were asked to accept price
increases,
and some agreed. iPhysicianNet’s board gave the company until 9:30
a.m. on Thursday, July 31, to obtain additional funding.
It didn’t happen.
In his letter informing stockholders of iPhysicianNet’s demise,
Moriarty
writes, “We were left with no funding and very little cash.”
At 1 p.m. on Thursday, July 31, Moriarty informed his Scottsdale,
Arizona staff, 115 people, that their jobs no longer existed. He told
investors that he was “saddened” that they had suffered a
financial loss.
Employees, he writes, were thanked for their efforts, and responded
with a round of applause for management. There was no word as to
whether
iPhysicianNet’s Carnegie Center employees had been conferenced in
on the termination speech — or whether they applauded. Whatever
the response, the message sign never got updated to August 1.
— Kathleen McGinn Spring
iphysiciannet, 214 Carnegie Center, Suite 204,Princeton 08540. Robert L. Maio, vice president, sales and service.609-275-8818; fax, 609-275-8819. Home page:www.iPhysicianNet.comTop Of PageNew Medical OfficesIn HamiltonJerry and Joseph Salzano are building a 47,478 squarefoot office project, Madison Corporate Center, at 1262 WhitehorseHamilton Square Road, in Hamilton Square. They will break ground onthis project, intended to be a showpiece for Hamilton Township, onThursday, September 4, at 4 p.m. John Simone Realtors will be theexclusive broker (www.johnsimonerealty.com).The first half of the project, 23,739 square feet, is slated forcompletionnext summer. Office units as small as 1,800 square feet will haveseparate entrances and will be sold as condominium units but can alsobe leased. The 4.5 acre site, near to Robert Wood Johnson Hospital,has parking for 214 cars.Architect Frank S. Aiello of Calhoun Street in Trenton designed theproject with an eye to appealing to medical doctors who prefer toown their own offices. It features a stucco and brick exterior, atwo-story glassed entry with porcelain tile foyer, elevator service,and upgraded finishes. Medical offices will have private entrances,and suite doors will have side windows.”This office project will set us apart from all others in MercerCounty,” says Joseph Salzano. His family-owned businessspecializesin masonry work but is also involved in other phases of construction.Other Salzano projects have been Quakerbridge Office Campus, the20,000-footHamilton Office Campus, and several residential communities.Top Of PageNew at Exit 8ALa Jobi, a baby furniture company, is in the processof moving into Cranbury East, the warehouse at Exit 8A owned byKeystoneProperties. Now based at 125 Jackson Avenue in Edison (732-346-5150),the firm imports BonaVita cribs and other furniture made in Italy,and it also has a factory in Virginia. Its wares are sold at BabiesR Us and other retail stores.Across the street, at Cranbury West, another Keystone-owned warehouseis occupied by the cosmetics division of LVMH and Sanmar, aSeattle-basedimprintable clothing import firm. Sanmar is currently hiring forklift drivers, warehouse workers, and a supervisor, says Lucy Garcia,in the human resources department.La Jobi Industries, 257 Prospect Plains, Cranbury08512. Miles McGrath, distribution manager. 609-409-2495; fax,609-409-8326.Home page: www.bonavita-cribs.comLVMH, 283 Prospect Plains, Cranbury West, Cranbury08512. 609-860-9822.Sanmar, 283 Prospect Plains, Cranbury West,Cranbury08512. Robert Manganelli, distribution manager. 609-395-1333; fax,609-395-6744. Home page: www.sanmar.comTop Of PageEnergy GrantsJeanne Fox, president of the Board of Public Utilities(see related story, page 46), just announced the board’s first grantsunder the Renewable Energy and Economic Development Program. Tenrenewable-energybusinesses are getting from $50,000 to $500,000 — a total of $2.7million, and the monies are predicted to create 200 high-technologyjobs.These grants, awarded by the BPU’s Office of Clean Energy, aresupposedto give the state a leadership position in energy conservation. TheBPU hopes that soon 20 percent of the state’s power will be generatedfrom solar or wind power or other renewable energy sources(www.bpu.state.nj.us).EPV (Energy Photovoltaics Inc.), 276 Bakers BasinRoad, Box 7456, Princeton 08543-7456. James F. Groelinger, CEO.609-587-3000;fax, 609-587-5355. Home page: www.epv.netEnergy Photovoltaics received the biggest grant, $500,000 to helpthe commercialize solar electric panels. Founded in 1991 by ZoltanKiss as Chronar, it has 34 employees at this location, where it makesthe machinery to manufacture photovoltaic modules.Ocean Power Technologies, 1590 Reed Road, BuildingA, Suite 1, Pennington 08534. George W. Taylor, president.609-730-0400;fax, 609-730-0404. Home page: www.oceanpowertechnologies.comOcean Power Technologies received $499,486 to commercialize itstechnologythat could use the mechanical energy of ocean waves into electricity.Founded in 1984, it has 12 employees here, and it develops,manufactures,and sells equipment to generate this power.WorldWater Corp. (WWAT), 55 Route 31 South,PenningtonBusiness Park Building B, Pennington 08534. Quentin T. Kelly, CEO.609-818-0700; fax, 609-818-0720. Home page: www.worldwater.comWorldwater received a $300,000 grant to work on a power drive toconnectsolar systems to electric grids. This is the same company that wasfeatured in the Patents column of the New York Times on September1 for a backup solar power system, invented by Anand Rangarajan andThomas McNulty, which can integrate solar and electric powerseamlessly.Founded in 1984, Worldwater is a principal supplier of renewableenergyand remote water supply for emerging nations. It offers watermanagementand solar energy, and it designs, develops, and markets itstechnology.Top Of PageExpansionsCorbeau Technologies, 1009 Lenox Drive, BuildingFour, Suite 107, Lawrenceville 08648. Tyler McWhorter. 609-896-1500;fax, 609-896-1525. Home page: www.corbeautechnologies.comThe software development firm moved into 7,000 square feet on LenoxDrive earlier this year. It specializes in developing andimplementation of financial software systems, particularly thePAM for Securities product offered by College Road East-basedPrinceton Financial Systems.Among its clients in financial services are Northwestern Mutual andAmerican Express Financial Advisors. Additionally, Corbeau offersenterprise solutions, knowledge systems, E-commerce and customerrelationship management, and infrastructure design. It also hasclients in the travel industry.Top Of PageCrosstown Moves: Zeno MarketingNosh Nalavala knows how to wear multiple hats, changingfrom a job as a reporter and editor to duties as a publicist ormarketingconsultant. Nalavala has moved his businesses, Zeno MarketingCommunicationsand Travelers India magazine, from East Windsor to Princeton Junctionand he has a new phone and fax.His marketing communications firm does all aspects of marketing —advertising, public relations, direct mail, publishing, and Internetmanagement — but specializes in travel, and it represents travelcompanies from different countries. He has a small office in Delhiand an agent in Bombay, and he commissions freelancers to writefeaturesfor the magazine he writes and edits, Traveler’s India(www.travelersindia.com).”For Air India I do public relations and advertising, and theybuy large quantities of my magazine, Travelers India,” saysNaravala.Other clients are India Tourism, International Ventures and Travel,the Malaysia Tourism Board, and the United Nations DevelopmentProgram.”It is a misconception that you need gobs of money formarketing,”he says. “It can be done extremely inexpensively.”The son of a business man, Nalavala was educated at St. Joseph’sAcademyin Dehradun, in northern India near Delhi, and has a certificate fromthe University of Cambridge. He has nearly 30 years experience intravel marketing, starting out with Air India and the Taj group ofhotels. He came to this country in 1983, and his sister also livesin Central New Jersey. Nalavala and his wife have one son, anattorney.Nalavala was raised as a Zoroastrian, a religion that emphasizes goodthoughts, good words, and good deeds. He named his business aftera Greek philosopher. “Zeno believed that in order for Nature (i.e.God or a divine presence) to play a positive role in your life, youneed to put in every effort honestly and sincerely, and God will takecare of the results.”Zeno Marketing Communications, 7 Whitney Place,Princeton Junction 08550. Nosh Nalavala, president. 609-716-1296;fax, 609-716-1297. E-mail: zenocom@aol.com Home page:www.zenonet.comKatz & Dougherty, 4020 Quakerbridge Road,Mercerville08619. George T. Dougherty, partner. 609-587-1199; fax, 609-587-0550.The law firm of Katz & Dougherty has moved from 100 Overlook Centerto 4020 Quakerbridge Road. The four-person firm’s specialties includecontracts and personal injury.RWD Technologies (RWDT), 214 Carnegie Center, Suite106, Princeton 08540. Peter Watson, director of center ofpharmaceuticalexcellence. 609-734-0600; fax, 609-419-3780. Www.rwd.comRWD Technologies, which provides software support for manufacturingand industrial applications, has moved from Suite 101 to Suite 106in the same building, 214 Carnegie Center.The company, which is down to 15 employees, some 25 fewer than in1999, and has downsized from 15,000 square feet to 3,000. Its servicesinclude client/server applications on major platforms and desktopapplications, and performance improvement in complex technicalenvironments.Kuller Travel, 344 Nassau Street, Princeton 08542.Ken and Trudy Dougherty. 609-924-2550; fax, 609-924-0340.Kuller Travel moved from 108 Nassau Street to Nassau and HarrisonStreet, where the rent is less expensive and free parking isavailable.The travel agency is located in the first floor of the Mazotasbuildingat 344 Nassau Street.Snelling Personnel Services, 600 Alexander Road,Princeton 08540. Kelley Geraty, branch manager. 609-683-4040; fax,609-683-5621. Home page: www.snelling.com/snellingeastThe employment agency has moved across Route 1 from 350 Alexanderto 600 Alexander. It does permanent and temporary staffing agencyspecializing in office support, information technology, accountingand finance, and light industrial.Top Of PagePrinters’ NewsPrint-It/Pequod Communications, 36 UniversityPlace,Princeton University Store, Princeton 08542. Andre Liu, owner.609-921-7888;fax, 609-921-7293.A 25-year-old copy shop closed its doors on Witherspoon Street indowntown Princeton and moved in with Pequod at the PrincetonUniversityStore. “We had been cooperating over the years,” says AndreLiu of Pequod, “and their rent wasn’t justifying the location.It made sense to have one location in town. So we just combined afew retail customers.” He points out that, at the U-Store, parkingis free.ADK Graphics, 2525 Route 130 South, Box 692,Cranbury08512. Drew Griffiths, production manager. 609-655-9132; fax,609-395-5526.Home page: www.adkgraphicsinc.comA family-owned printing business expanded from an office in the townof Cranbury to 1,200 square feet at Route 130 South; it has presseselsewhere. Walter Griffiths, a Rutgers alumnus, started his careerin sales and then became a printing broker before operating as a fullservice commercial printer. He is assisted by his wife, Susan, andtwo of their three children — David (Rider, Class of 1995), andAndrew (Roger Williams, Class of 2000). Among ADK’s clients aremanufacturers,retailers, pharmaceuticals, chemical companies, and service firms.Top Of PageLeaving TownExperience Works! Staffing Service, 2139 Route33, Lexington Square Commons, Box 8303, Trenton 08650-0303. SydelleNorris, state director. 609-890-2121; fax, 609-890-2124.Www.experienceworks.orgThe New Jersey office of Experience Works!, a non-profit servingelderlyjob seekers, is closing its doors on Friday, September 5, after losingits funding on July 1. Located at 2139 Lexington Square Commons, thenon-profit was an office of a nationwide organization withheadquartersin Arlington, Virginia, and a presence in 44 states.The New Jersey office, which handled paperwork for the entire stateas well as for Maryland, is moving to Mechanicsburg, Pennsylvania,according to office manager Sue Dilks, who says that she, along withthe office’s other five employees, have lost their jobs.The office’s six field workers were terminated on July 1.Some Experience Works! clients are women who have never worked, orwho have no work recent work experience, and who find themselves inneed of a job after the death of a spouse. Others, says Dilks, areindividuals, both men and women, who have been downsized, or who haveto come out of retirement as their savings dwindle.Ages of clients range from 55 to, in Dilks’ words, “Oh mygosh!”Over 80? Oh yes, certainly, she says, some of the jobseekers heragencyhas seen have been well into their ninth decade.Dilks has been too busy to look for a job, but plans to start doingso as soon as her office is packed up. As for her agency’s clients,they will now be served by Easter Seals.The Concierge Inc., 1347 Stelton Road, Piscataway08854. Howard Rich, president. 732-247-4900; fax, 732-247-4916.Howard Rich moved his event planning and advertising specialtybusinessfrom North Center Drive in North Brunswick to Piscataway. Foundedin 1985 the firm has six employees and 3,000 square feet. Rich offersa full range of corporate meeting and VIP services, including settingup meetings, dinners, theater and sports events, and he also doesadvertising, particularly focusing on ad specialties.Pre-Diction Tech Inc., 100 Nassau Street, Princeton08542. Ursula Meyer, business manager. 609-924-1441; fax,609-924-1341.Home page: www.pre-diction.comPre-Diction Tech, a market research company with proprietarytechnology,is no longer maintaining its office at 100 Nassau Street. Phones atthe office have been disconnected.Top Of PageMoving OutKestler & Company, 115 Wall Street, Princeton08540.Julian Kestler, president. 609-683-1322;Kestler & Company, a marketing communications firm, is moving fromits offices at 115 Wall Street, according to Julian Kestler, thefirm’sprincipal.Previous StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
