Contracts Awarded: Telelogic and Medarex
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Prepared for August 30, 2000 edition of U.S. 1 Newspaper. All
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ITXC Expands Into Voice-Enabled Web
ITXC Corp. (Internet Telephony Exchange Carrier)(ITXC),600 College Road East, Princeton 08540. Tom Evslin, CEO. 609-419-1500;fax, 609-419-1511. Home page: www.itxc.comITXC’s purchase of a private voice-enabled applications company,eFusion,will help to develop its services for “E-calling,” theInternetsuccessor to phone calling. Based in Beaverton, Oregon, eFusion willbe a wholly-owned subsidiary of ITXC, which will pay for the buy withcash on hand.The Oregon firm has products with a much higher margin than basictelephony services and therefore with a bigger potential for profit.”Push to Talk” can voice-enable web sites, provide live humaninteraction with call centers, and spur browsers to become buyers.”Suite Adeline” offers Internet call waiting, voice mail,and follow-me services as part of PC-based call management(www.efusion.com)With ITXC’s E-calling, users can be reached with a single ID no matterwhere they travel. This “reach me” service integrates phones,wireless, and computers, and can be combined with web browsing orE-mail.”The eFusion team is extremely innovative and productive,”says Tom Evslin, CEO of ITXC. “The Oregon facility will be theheadquarters for our E-calling E-commerce services as well as thelocation of other activities.” Ajit Pendse, chairman of eFusion,will be an executive vice president at ITXC. Luis F. Machuca, formerlydirector of marketing at Intel and now eFusion’s president and COO,will be executive vice president and general manager of theOregon-basede-commerce services.In addition to excellent patent protection, eFusion has been sellingproducts to such companies as US West, Duro Communications (a majorISP in southeastern United States) and Cameraworld.com (an onlinereseller). The deal is expected to close by the end of the year.Top Of PageNexMedNexMed Inc. (NEXM), 350 Corporate Boulevard,Robbinsville08691. Joseph Mo, chairman, CEO, and president. 609-208-9688; fax,609-208-1868. Home page: www.nexmed.comNexMed, developers and makers of sexual dysfunction products, hasmade progress toward entering the market in China with a paperpresentedAugust 27-30 in Beijing. The report told about 160 men with erectiledysfunction in a double blind, placebo-controlled study at fourhospitalsin Beijing. They were asked to use the medication — Nexmed’sAlprox-TD— “as needed” over a four-week take home period, and theywere supposed to attempt intercourse as many times as possible butno more than once daily.The dropout rate was low, under two percent, and the prescriptiontreatment had an effective rate of 67.5 percent versus 13 percentfor the placebo. Of those using the active cream, 75 percent improvedtheir erections over the therapy period versus under 20 percent ofthe placebo group.The erectile dysfunction market is estimated to be a multi-billionbusiness. NexMed Pharmaceuticals has applied to manufacture and marketits cream in China under the name Befar. NexMed is also constructinga a 32,5000 square foot manufacturing facility on Twin Rivers Drive.Top Of PageSpec ConstructionMatrix Development Group, Forsgate Drive, MonroeCenter at Forsgate, CN 4000, Cranbury 08512. Joseph S. Taylor,presidentand chief executive officer. 732-521-2900; fax, 609-395-8289.In its busiest construction year ever, the 21-year-old MatrixDevelopmentGroup is building 3 million square feet of industrial construction,including a speculative building in the CenterPoint at 8A industrialpark. The new warehouse and distribution center, at 24 EnglehardDrive,is scheduled to be ready to take one or more tenants by the end ofthe year. It has a 32-foot ceiling clearance and 70 “crossdock”bays. Among the other tenants of CenterPoint are Volkswagen ofAmerica,Siemens Medical Systems, and Sony Corporation of America.”Based on the strength of the market, and based on the perennialappeal of CenterPoint at8A, we have absolute confidence in themarketabilityof this property,” says Jim Murray, development project managerat Matrix.Matrix also has five current deals at its $200 million “BigBox”development at the Northeast Business Park, at the Exit 7A Interchangeof the New Jersey Turnpike. The three announced projects are a 1millionfoot warehousing and distribution facility for Seaman’s FurnitureCompany, a 550,000 square-foot distribution center for Lifetime HoanCorporation, and a 150,000 square-foot warehouse and manufacturingfacility for Denby Associates. Two more deals are pending. The firstcustomer in Northeast Business Park was the 11-acre northeast servicecenter for Amway in 1997.Top Of PageContracts Awarded: Telelogic and MedarexTelelogic North America Inc., 206 Rockingham Row,Princeton 08540. Tim Crandle, president North America. 609-520-1935;fax, 609-520-8512. Home page: www.telelogic.comThe global company headquartered in Malmo, Sweden, paid $115 millionin stock for Quality Systems & Software (QSS), a Virginia-based,privately-heldcompany that offers requirements managements solutions(www.qssinc.com).The purchase makes Telelogic the largest provider of such tools forreal-time applications and doubles its sales capacity in the UnitedStates. Its North American headquarters is at Forrestal Village, whereit has about 15 employees on site.”Our ambition is to be the partner of choice for companies andengineers developing advanced software,” says Anders Lidbeck,Telelogic’s CEO.QSS has DOORS, the first enterprise-wide requirements management suitefor all types of users. For project compliance it can capture, link,trace, analyze, and manage a variety of textual and graphicalinformation.Medarex (MEDX), 707 State Road, Princeton Gateway,Suite 206, Princeton 08540. Donald L. Drakeman, president.609-430-2880;fax, 609-430-2850. Also, 1545 Route 22 East, Box 953, Annandale08801-0953.908-713-6001; fax, 908-713-6002. Home page: www.medarex.comMedarex will collaborate with Athersys Inc. to apply its HuMAb-Mousetechnology to Athersys’ RAGE (Random Activation of Gene Expression)technology. “The combination of Athersys’ proteomics expertisewith our human antibody technology is a logical match for theefficientdevelopment of new therapeutics,” says Donald L. Drakeman,presidentand CEO of Medarex.Based in Cleveland, Ohio, Athersys develops therapeutic products totreat significant and life threatening diseases (www.athersys.com).Medarex develops monoclonal anti-body based therapeutics for similarpurposes. Among Medarex’ products in clinical development are thoseto combat cancer, prevent secondary cataracts, and treat acute myeloidleukemia.Donald Drakeman and his wife, Lisa Drakeman, will be inducted intothe High Tech Hall of Fame at a Biotechnology Council of New Jerseydinner on Wednesday, October 18, at the Garden State Arts Center inHolmdel (www.njhightech.org, call 609-890-3185). Lisa Drakemanis chief executive officer of Genmag A/S, a Copenhagen-basedbiopharmaceuticalfirm that develops monoclonal antibodies to treat a wide range ofdiseases.Top Of PageStock News: CytogenLast month Cytogen hoped to buy Massachusetts-basedAdvanced Magnetics for $60 million in Cytogen stock. That deal isoff — perhaps because Wall Street judged the merger too timeconsumingand expensive — but Cytogen walks away with the rights to marketand sell Advanced Magnetic’s prize product.Advanced Magnetics (AVM, www.advancedmagnetics.com) develops andmanufacturesMRI contrast agents useful for cancer and liver disease; it has amanufacturing facility and an R&D fund of $19.5 million. Cytogen(CYTO,www.cytogen.com), based on College Road, needs R&D money and coulduse manufacturing space, but it has a full marketing team sellingsimilar products to radiologists.The near-term benefits of the merger, both sides say, were a subjectof “mutual concern,” but the two companies did want to teamup on marketing and supply arrangements.Cytogen turned profitable for the first time in 18 years early lastyear. It will get exclusive United States marketing rights toCombidex,a magnetic resonance imaging contrast agent for detecting lymph nodecancer that has been deemed approvable by the Food and DrugAdministration.It will get similar rights to a next-generation product for oncologyindications.”The first place cancer spreads to is the lymph nodes. Insteadof taking a biopsy, you can give an injection and 24 hours later takea picture,” says Richard Krawiec, Cytogen’s vice president ofinvestor relations. Two similar Advanced Magnetics products are onthe market, and more are in the pipeline.Advanced Magnetics is scheduled to receive 1.5 million shares ofCytogenstock (about $13 million at current prices) plus another $500,000upon reaching milestones. Advanced Magnetics has 35 employees, mostat a manufacturing facility in Cambridge, but 10 at a clinical andregulatory affairs office at the Carnegie Center.Cytogen Corporation (CYTO), 600 College Road East,CN 5308, Princeton 08543-5308. H. Joseph Reiser, CEO. 609-987-8200;fax, 609-750-8130. Home page: www.cytogen.comAdvanced Magnetics Inc. (AVM), 104 Carnegie Center,Suite 202, Princeton 08540-6232. Leonard M. Baum, senior vicepresident.609-520-8505; fax, 609-520-0620.Top Of PageLeaving TownSPX Corporation, 1075 Cranbury South River Road,Suite 9 Forsgate Technical Center, Jamesburg 08831. Ted Young,regionalservice manager. 609-395-7728; fax, 609-395-8121. Home page:www.spx.comSPX closed this office on July 21 and consolidated operations to itsKalamazoo headquarters at 8001 Angling Road, Portage, MI 49024,800-558-5585;fax, 800-809-1234. Some employees will stay in this area and workingfrom their home, and Ted Young will work from a Virginia office. Thefirm sells emission testing equipment for auto diagnostics.TTop Of PageDeathsJo-Ellen Pullen Walter, 65, on August 21. She was anofficemanager with Princeton Air Conditioning Co. on Everett Drive.Previous StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
