Moving in at NJEDA

Other Biotechs On the Move

PharmaSeq Funding

Lisa Drakeman Expands GenMab

Awards, Expansion At PBL Biomedical

Johnston Venture: Carta Proteomics

BardBioPharma Changes Name

Biotech Briefs

Corrections or additions?

This article by Barbara Fox was prepared for the June 26, 2002 edition of U.S. 1 Newspaper. All rights reserved.

Biotechs in the News: Comings & Goings at the NJEDA Tech Campus

Last fall two big biotech deals were making news. With

one gulp, a Swiss-based firm, GeneProt, devoured 60,000 square feet,

leasing virtually all the newest corporate space at the New Jersey

Economic Development Authority’s technology campus on Route 1 South

in North Brunswick. Simultaneously ValiGen took 77,000 square feet

at the former Lucent campus in Hopewell.

Maybe the stars were in the wrong place. ValiGen’s funders pulled

out just weeks after it moved in and the company closed down. (Instead

Lexicon Pharmaceuticals, formerly Coelacanth, is moving to the Lucent

space from Princeton-Hightstown Road.) And now GeneProt has canceled

orders for more than $20 million in equipment and halted work on its

lab fitout. At best it is treading water and postponing its deal with

the NJEDA.

Though GeneProt’s phones in North Brunswick answer with taped messages,

it did not return calls. Sources say the firm is still paying rent,

has one big contract and is seeking more, and is still a viable company.

But GeneProt’s problems illustrate just how hard it is to attract

and keep biotech companies.

Founded by several graduates of Northwestern University’s Kellogg

School of Business, GeneProt hopes to discover new drugs and biomarkers

based on the proteins found in the body. It plans to profile the proteins

in healthy and diseased fluids or tissues by studying how organisms

develop, how cell types and tissues mature, and how diseases progress

as they vary over time. Among the companies that are trying to commercialize

proteins, GeneProt labels itself unusual because it works on an industrial-sized

scale, and because it intends to deliver potential therapeutic agents

within six months.

In Geneva, Switzerland, GeneProt operates what it calls the "world’s

largest proteomic discovery center," 51 advanced mass spectrometers

that run 20 hours a day, and it had planned to build an identical

facility here. Nevertheless, though GeneProt had initially raised

$122 million, it needed more clients before it could afford to get

its production lines rolling in the United States because its "burn

rate" (expenses) will be very high. "We don’t want to be running

[in New Jersey] without a big customer," CEO Cedric Loiret-Bernal

had said in a February interview with ProteoMonitor, the trade journal

that reported on the equipment cancellations.

Just six months before, Loiret-Bernal was so confident

that he was even talking about building an additional four-story 40,000

square foot office as a corporate headquarters. This was to be in

addition to the 60,000 square feet of lab space at the Technology

Center plus four small incubator modules (totaling 3,200 square feet)

at the adjacent Commercialization Center for Innovative Technologies.

This giant lease qualified GeneProt for more than $6 million ($100

per square foot) in construction allowances and more than $3 million

over 10 years under the Business Employment Incentive Program (BEIP).

More than 150 people were to be employed by GeneProt in North Brunswick.

Now Bertrand Damour, Geneprot’s chief financial officer, and Marc

Funk, its general counsel, are running the firm as a two-person committee.

Other than to say that CEO Loiret-Bernal left the company in late

April, GeneProt has not issued any statement about holding back on

its plans for New Jersey. The trade magazine said it had been contacted

by equipment suppliers, unhappy because the orders for more than $20

million worth equipment had been canceled.

Additional cancellations hit Zymark, a Massachusetts-based firm that

is supplying automation equipment. But Zymark is still delivering

equipment to GeneProt’s facility in Switzerland. "We actually

know one of the founders, Denis Hochstrasser, fairly well and feel

very positive about their future," says Zymark’s Mark Roskeys.

"The deal is not completely gone."

"We have extended the agreement out a year and expect that GeneProt

will be at the Tech Center, just not as soon as originally planned,"

says Glenn Phillips, spokesperson for the EDA.

GeneProt, 671 Route 1 South, Technology Center

III, North Brunswick 08902. Keith Rose, chief scientific officer.

732-246-8950; fax, 732-246-8948. Home page:

Top Of Page
Moving in at NJEDA

Three incubator tenants — Access Bio, Aeropharm

Technology Inc., and Ortec International — have been added to

the roster at the NJEDA Commercialization Center.

They join such major tenants as Cambrex Corporation, a global supplier

of products and services to the life sciences industry; Celgro Corporation,

a wholly owned subsidiary of Warren-based Celgene Corporation that

does gene engineering for better herbicides; Chubb Computer Services,

the training and consulting division of the Fortune 100 firm; and

Merial Limited, a veterinary pharmaceutical firm that is a joint venture

of Merck and Rhone Merieux.

A lease is pending for one unit and six units are occupied. Potentially

11 800-square-foot units are available.

Access Bio Inc.

Yung Choi hopes to develop new in-vitro diagnostic tests

based on protein chip technology — the new platform of DNA diagnostics.

"This is totally new in the in-vitro diagnostic field, and we

are seeking technology that can give a big benefit for the patient,"

says Choi. "The current technology uses expensive instruments

and requires highly trained persons. We are developing simple tests

using a small instrument and simple procedures that an emergency room

nurse can do. It will give better results with good outcome at less

cost in convenient way."

He founded his five-person company last September and — after

finding the space on the Internet — has moved into one of the

800-square-foot incubator spaces offered by the NJ Economic Development

Authority at the Technology Center in North Brunswick. Choi hopes

to go public on Nasdaq in three years and have $15 million in sales

in four years. Currently he has angel funding but is seeking venture

capital from both the United States and Korea and is also writing


The son of a Presbyterian pastor, Choi studied in Seoul at the Advanced

Institute of Science and Technology, and then worked as a project

manager at Samsung’s R&D center. Moving to the United States, he worked

in New Jersey before establishing his own company in September, 2001.

He and his wife, a web designer, and her mother live in Montgomery

township and have three school age sons.

The diagnostic procedure involves a drop of blood, saliva, urine,

or serum on what looks like a small plastic card, five centimeters

square. It is inserted into a small instrument, which gives the results

in one minute. The equipment costs $3,000. "Test results will

be converted to a digital signal off the chip," says Choi, "enabling

the quantitative test results to be transmitted between the point

of test and medical experts through the use of wireless or on-line


"The big companies keep focusing on the $500,000 instruments and

but we are seeking to carve out a different market," says Choi,

"testing in the physicians’ office and at home, and the Third

World." Currently under development are tests for such infectious

diseases as the hepatitis C virus, complete diabetes tests, and an

alcohol test for drunk drivers.

"Our main effort is developing a product, not just going around

and getting money," he says. But the company does have a CFO,

Abraham Kim, who attends the same East Brunswick church as the Choi

family. The vice president is Jaen Jung.

Early revenue might come from the blood alcohol screening tests and

from fertility (pregnancy and ovulation) tests. Tests that could provide

a higher profit margin might be diagnostics for diabetes, cardiovascular

disease, and neonatal care.

Choi recently returned from Bio2002 (the biotech convention in Toronto)

and compared notes with other companies in other states. "I found

state governments that provide similar programs as the EDA, with property

much cheaper," he says, citing North Carolina incubators that

go for $11 or $12 per square foot, versus New Jersey’s $30. But he

is not thinking of moving. Not because there are more good Korean

restaurants in Edison than in Raleigh, but because "New Jersey

has a better economic environment."

Access Bio Inc., 675 Route 1 South, Technology

Center of New Jersey, North Brunswick 08902. Yung Choi, CEO. 732-246-7400;

fax, 732-246-5766.

Ortec International Moves from New York

Ortec International, a publicly traded biotech, now

has four 800-foot modules in the Commercialization Center. It had

also announced last February that it would take a total of 56,000

square feet at the center. Under this agreement, the EDA would contribute

more than $4.5 million in building improvements, and the company would

also receive a New Jersey Business Employment Incentive Grant, estimated

to be worth $1.5 million over the period of the 10-year lease. The

move, which would more than double the firm’s space, is supposed to

be finished by 2003.

Founding scientist Mark Eisenberg MD started out in 1971 to find a

treatment for his baby son’s disease, Epidermolysis Bullosa (EB).

Touching the skin of someone with EB causes the skin to peel and blister.

Costa Papastephanou is president, Ron Lipstein is CFO, secretary and

treasurer, and William Schaeffer is COO.

The company was founded in 1991 to commercialize the development of

a two-layered tissue engineering dressing that has human derived dermal

and epidermal skin cells supported within a porous collagen matrix.

The matrix has keratinocytes to promote epidermal growth and fibroblasts

for dermal growth. This active dressing stimulates the repair, replacement,

and regeneration of the human skin — and stimulates wound closure.

It is going through the approval process now and but can be used for

EB patients under a humanitarian exception to the approval process.

To finance these clinical trials, the company raised $2.3 million

last month by issuing debentures and common stock, and it plans to

raise $10 million more in private placement.

Steven Katz, Ortec’s chairman and CEO, said in February that having

the New Jersey facility operational in 2003 "parallels the expected

approval time line of our product for venous and diabetic ulcers and

provides us with sufficient manufacturing capacity for the anticipated

demand from those markets."

Ortec International (ORTC), 3960 Broadway, New

York 10032. Steven Katz, chairman, CEO. 212-740-6999; fax, 212-740-2570.

Home page:

Aeropharm Technology

Aeropharm Technology, an Edison-based developer and

manufacturer of inhalation drug delivery systems, is leasing one of

the 800-foot modules in the Commercialization Center for Innovative

Technologies. Founded in 1993, it currently has more than 39,000 square

feet of laboratory and manufacturing space in Edison. It is a subsidiary

of a fully integrated specialty pharmaceutical firm in Miami, Kos


Known for being able to solve difficult aerosol problems, Aeropharm

has patented devices that allow for excellent lung penetration of

inhaled drugs. At its Edison site, its unusual Universal Formulation

Tank can handle many different types of drugs and batch sizes, and

can make up to 20 million units annually.

Aeropharm Technology Inc., 675 Route 1 South, Technology

Center of New Jersey, North Brunswick 08902. Frederick A. Sexton,

general manager. 732-236-3940. Home page:

Top Of Page
Other Biotechs On the Move

Top Of Page
PharmaSeq Funding

Gene chip analysis is in the news right now. Gene chips

(strands of DNA printed onto glass slides) help scientists design

better therapies for curing diseases like cancer. In a recent cover

story on how gene chips can help find a cure for cancer, U.S. News

& World Report quoted a Harvard Medical School professor as saying

gene chip analysis is "the molecular microscope of modern cancer


Richard Morris, CEO of PharmaSeq on Deer Park Drive, says his company

is working with a technology even more exciting. "The next big

area is looking at proteins as well as DNA," says Morris. Gene

chips have the technical limitation of being able to work only with

DNA, whereas PharmaSeq’s technology can work with proteins and other

molecules. "We think we have one of the follow-on technologies

that make research cheaper, faster, and more sensitive. We don’t have

to make the chip. We can put probes for the genes in a solution."

PharmaSeq’s capacity to do individual tests quickly and cheaply makes

it a good candidate for what Morris sees as one of the most important

new developments in medicine, the ability to match a therapy regime

with a genetic profile. It is being called the science of "theranostics."

Based at Princeton Corporate Plaza, PharmaSeq was founded in 1996

by Wlodeck Mandecki, the holder of multiple patents — three have

been announced so far this year — and Morris was hired as CEO

in February. The firm has significant investment from a Japanese conglomerate,

Mitsui & Company, and it recently announced $3 million in funding

from Dionex Corp. (DNEX), a California-based firm that makes chromatography

and extraction systems for chemical analysis.

Morris had been vice president at Dionex but points out that the investment

was not made on basis of personal contact but on the technology: the

world’s smallest microtransponder. Although PharmaSeq’s microtransponder

is square, it is so tiny that it looks like a fleck of black dust

floating around in a solution. With its silicon chip it transmits

a radio frequency signal that identifies molecules.

"Instead of putting a thousand probes on a chip we put one probe

on one microtransponder," Morris explains. Each can take 100 million

copies of the exact same DNA sequence. If gene chips are like bingo

cards, the microtransponders work like the EZ Pass on the turnpike.

"Think of it as taking a chip and breaking it into many little

pieces, each one with a serial number," says Morris. "Instead

of telling what is what by the coordinates on the chip, we have the

serial number of each DNA sequence stored on a microtransponder and

it is transmitted by radio frequency. We know exactly what it is."

"What is unique about our microtransponder," says Morris,

"is that the antenna is self contained on it, whereas most devices

have an external antenna. Ours has a power source. The beauty of our

system is that all the other procedures are the same as any molecular

biology laboratory. We inject them through the flow reader and they

flow through the tube at high speed. The reader reads both the serial

number and the binding event."

A graduate of Cornell, Class of 1970, Morris grew up on Long Island

where his father was a mechanical engineer in the wire and cable industry.

He has a doctor’s degree in biochemistry from the University of California.

He and his wife, a native of Melbourne, Australia, who raises and

trains polo ponies, live in Ringoes, and they have two adult children.

He had executive marketing positions at capital equipment companies

(Dionex Corp and Molecular Dynamics in California), at a consumables

firm (Sigma Aldrich, the largest producer and marketer for chemicals

and biochemicals), and software (his most recent job was at CambridgeSoft

Corp. in the Boston area). "All of those pieces came together

for this job," says Morris, "and it was close to my house.

PharmaSeq Inc., 1 Deer Park Drive, Princeton Corporate

Plaza, Suite F, Monmouth Junction 08852. Richard Morris, CEO, Wlodek

Mandecki, president. 732-355-0100; fax, 732-355-0102. Home page:

Top Of Page
Lisa Drakeman Expands GenMab

Thirteen years ago the idea of curing diseases with

monoclonal antibodies was so new that a company pioneering in this

field, Medarex, hosted a conference to help introduce it to the scientific

community. Then Medarex acquired the rights to a special mouse that

could produce human genes. Now through Medarex and its Danish spin-off,

GenMab, dozens of therapies are being tested to cure everything from

psoriasis to cancer.

GenMab aggressively focuses on creating and developing human antibodies

for the treatment of life threatening and debilitating diseases. Vaccinate

one of GenMab’s mice with a diseased cell, and the mouse can create

antibodies to fight that disease. Let one of those antibodies multiply,

and it will produce quarts and gallons of disease-fighting antibodies

to cure human patients. Monoclonal antibodies bind selectively with

a villain cell without affecting healthy neighboring cells and with

minimal side effects.

"Our technology is proven," says Lisa Drakeman, CEO of GenMab.

"We know we can make human antibodies. There will be lots of exciting

technologies in our lifetime, but making antibodies has become very

important. It has a big future and the market is growing all the time.

Antibodies will continue to have important uses regardless of other

therapies that other people invent."

In the three years since it was founded the firm has signed a total

of 10 partnerships. Just announced: a $20 million equity investment

from Roche to expand its collaboration with GenMab. Roche will

receive access to Genmab’s special mouse and Genmab will get royalty

payments on successful products. The lead product, HuMax CD4, is in

Phase III clinical trials to treat rheumatoid arthritis and was awarded

fast track status by the FDA in February.

Several months ago Drakeman moved her company to the entire 20,000

square foot second floor of 457 North Harrison Street. She has 12

employees here now and is hiring up to four dozen more — project

managers and regulatory affairs experts — to manage clinical trials

in the United States. Though GenMab is based in Copenhagen and has

more than 75 people there, also has 60 people in Utrecht.

GenMab has its roots in Medarex, which was founded by Lisa Drakeman’s

husband, Don, at Dartmouth in 1987. He opened it at 20 Nassau Street

in 1989 and took it public. Medarex bought a genetically perfected

mouse in 1997 and has been piling up licensing contracts ever since.

It has a laboratory in Annandale and its corporate headquarters is

at Princeton Gateway, 707 State Road (U.S. 1 November 17, 1999).

As vice president of business development at Medarex, Lisa Drakeman

helped to set up GenMab and was asked by the investors to stay on

as CEO. Since then she has been leading a trans-oceanic life, spending

an approximately equal amount of time on both sides of the Atlantic.

Explaining the difference between the two companies, she says that

GenMab is a product development company. "Our goal is to develop

a large number of products. We have clinical development and preclinical

development teams that I consider to be the best in the industry.

Of our 155 employees, only 22 are doing general administrative tasks,"

she says. "That’s what makes us stand out."

"Medarex has a different kind of business — they out license

the technology. They are also working on products but we are more

advanced than they are. We have a broader pipeline (products at every

stage of clinical trials) than they do."

Medarex owns one-third of GenMab, and the Drakemans are careful to

avoid any appearance of conflict of interest. "People need to

know that any conflicts of interest are handled by a committee of

the board of Medarex and GenMab," she says. "It is done in

a way in which Don and I don’t get involved. The point is, that there

is a procedure in place."

That doesn’t mean that husband and wife don’t talk shop during the

time they manage to be together. "This is such a demanding field,"

she said in a November, 1999, interview, "that it helps for both

of us to be in it. We understand the pressures on each other, and

this is something we share instead of being divided by it."

Lisa Drakeman grew up in Warren, Pennsylvania, where her father was

a forest ranger and her mother founded a jewelry store. She met her

husband when both were college freshmen — she at Mount Holyoke,

he at Dartmouth, and both earned their PhDs in religious history at

Princeton University in the 1980s. She began working full-time at

Medarex when the second of their two daughters began grade school.

As vice president at Medarex she was appointed by Governor Whitman

as a commissioner of Prosperity New Jersey.

"Our first product is due to be launched in 2004, and we hope

to reach market with the next in 2005," she says. "Three years

from now we hope to be a profitable company."

Genmab Inc., 457 North Harrison Street, Princeton

08540. Lisa Drakeman, CEO. 609-430-2481; fax, 609-430-2482.

Top Of Page
Awards, Expansion At PBL Biomedical

Sidney Pestka is doing research that has the potential

for treating a wide variety of ills that range from cancer to the

common cold. His focus: interferons, a family of proteins that are

virus fighters. With little public attention until recently, Pestka

has built PBL Biomedical Laboratories, the world’s largest supplier

of interferons for research.

Now housed in 3,500 square feet of incubator space at 100 Jersey Avenue,

the 12-year-old company will be expanding to 20,000 square feet in

Piscataway in August. Sydney Pestka is board chairman and chief scientific

officer. His son, Robert, is president and CEO, and his wife, Joan,

is head of human resources at the 21 employee firm.

Earlier this month Pestka was one of five people to receive the prestigious

National Medal of Technology from President George Bush. Another award,

this one from Fleet Bank for entrepreneurs, garnered a $10,000 check

for Pestka and an additional $10,000 for his choice of charity, Make

a Wish Foundation.

If you think you don’t know what interferons are, think again. They

are the flu-fighting soldiers of your body. When you are attacked

by a virus, and you get a headache, fever, muscle aches, and chills,

interferons are at work and the "symptoms" are interferons’

side effects. Interferons also work just as ferociously to treat hepatitis

B and C, multiple sclerosis, and some cancers, but, in the doses required,

the side effects are quite severe. Still, sometimes using interferons

is the best available treatment option.

"I believe that interferons have the potential to treat cancer

like no other pharmaceutical agent I know," says Pestka. "But

they have been disappointing as anti-cancer agents — not because

they aren’t powerful enough, but because they are too powerful. We

simply need to figure out how to harness their potential.

"How? The only way I know — by challenging conventional wisdom

all the way through the discovery and development process."

Forty-five years after interferons were identified in England, Pestka

has new "ultra" interferons, which he says are "more active

than those that are marketed by companies throughout the world. We

are also looking for interferons with minimum side effects so that

higher doses can be used."

Currently interferons are used to treat metastatic malignant melanoma,

a rapidly spreading skin disease, but dosage is limited by the side

effects. Pestka’s new paradigm for cancer treatment would minimize

side effects by putting interferons in the tumor and keeping them

from spreading elsewhere. "To develop a slow release for any protein

for this use is a very difficult goal," he says.

Income from the sales of interferons is poured back

into his own research. Pestka and a 12-person research team at his

UMDNJ lab have developed a way to attach monoclonal antibodies to

radioisotopes. His Jersey Avenue-based company has a substantial Small

Business Innovation Research (SBIR) grant from the National Cancer

Institute to work on the proof of principle for this therapy. "Other

methods for using isotypes with antibodies damage the antibody, and

ours does not," he says.

Pestka’s father, who emigrated from Poland, was first a steelworker

and then a tavern owner. Pestka remembers him as "ingenious, he

could do just about everything," and he carries on this trait

of being able to think outside the box. He lived first in Brooklyn

and then in Trenton, where he graduated from Trenton High. A chemistry

major at Princeton University, Class of 1957, he went to the University

of Pennsylvania medical school and then did research at the National

Institutes of Health and the Roche Institute of Molecular Biology.

He was the first to purify many of the human interferon alpha and

interferon beta species in the late 1970s and early 1980s.

He took a position at Robert Wood Johnson University Medical School

and was department chair when the university asked him to start a

company. "They wanted to show the state that they could help develop

jobs from intellectual property. I had no intention of starting a

company. I had come here as an academic and wanted to spend time on

research." PBL started in his home and then moved to the incubator

at 100 Jersey Avenue.

Could harnessing interferons really prevent the common cold caused

by rhinoviruses? That amounts to 50 percent of cold sneezes. Yes,

these colds could be prevented by using interferons, but the symptoms

aren’t apparent for 12 to 24 hours, so the patient would have to be

extremely sensitive to the initial signs. "If we had investors

interested in moving in that direction, we could investigate that,"

says Pestka. "But it would not be simple. For now I am focusing

most of my energy on therapies to treat cancer."

— Barbara Figge Fox

PBL Biomedical Laboratories, 100 Jersey Avenue,

Building D, New Brunswick 08901. Robert Pestka, president and CEO.

732-828-8881; fax, 732-828-3736. Home page:

Top Of Page
Johnston Venture: Carta Proteomics

As one mass spectrometry company, GeneProt, is pulling

back on its expansion plans (see page 14), another one is being established,

Carta Proteomics at Princeton Corporate Plaza on Deer Park Drive.

Funded in part by venture capitalist Bob Johnston, of Johnston Associates

on Cherry Valley Road, its current platform technology is to use mass

spectrometry to delineate the protein structure. It studies the way

small molecules interact with proteins, which are the main target

in drug discovery.

"Our mission is to be the foremost protein structure company in

the business," says David Houck, vice president, "and we are

also a drug discovery company. We aim to help find new protein targets

and also delineate how proteins act or interact with potential drugs

or other small molecules."

In contrast to GeneProt, which is using — in parallel — many

many spectrometers to look for new proteins and associate them with

a disease, Carta will not do massive parallel spectrometry. Instead,

it will take proteins that have been identified as potentially important,

classify their structure, and determine how they interact with proteins,

DNA, and small molecules — all to search for potential drugs.

A native of Michigan, where his father was an engineer, Houck stayed

in his home state to go to Alma College in Michigan, Class of 1978,

and then earned his PhD from Ohio State. The first startup that he

worked in was Paradigm Genetics, where he was the 20th employee, and

it went up to 200 in a year and half. He was recruited from Massachusetts-based

Phytera to be the first employee here.

"I can’t overemphasize the fact that we cannot be compared to

GeneProt," says Houck. "We don’t provide the same information.

We are a protein structure company. They are a protein identification

and protein/protein interaction identification company. They are target

discovery, we are target characterization."

Carta Proteomics, 11 Deer Park Drive, Suite 103,

Monmouth Junction 08852. David Houck, vice president. 732-438-6500;

fax, 732-438-1919. Home page:

Top Of Page
BardBioPharma Changes Name

Laureate Pharma LP, 201 College Road East, Princeton

08540. Robert J. Broeze PhD, president. 609-919-3300; fax, 609-452-7211.

Home page:

The new name for this contract manufacturing services company, formerly

known as Purdue Biopharma and then Bard Biopharma, is Laureate Pharma

LP. It focuses on biopharmaceutical products and sustained release

formulations. The corporate headquarters and biopharmaceutical products

division is on College Road East, and its extended-release technologies

division is in Totowa.

Bard BioPharma (no relation to C.R. Bard) was established in 1999

by Purdue Pharma to produce its biopharmaceutical clinical trial materials.

Just about that time Purdue Pharma had signed a contract with Cytogen

to produce its materials. But late last year, Purdue Pharma decided

to spin the business off as a contract manufacturing venture, along

with another division at its Totowa site.

"Initially, the company kept the name of Bard BioPharma, but we

wanted a new, unencumbered name …and voila, now we are Laureate

Pharma," says Robert P. Morgan, senior director of facilities


Top Of Page
Biotech Briefs

Cytogen Corporation (CYTO), 600 College Road East,

CN 5308, Princeton 08543-5308. H. Joseph Reiser, president and CEO.

609-750-8200; fax, 609-750-8124. Home page:

Cytogen and Ontario-based Draximage are working together on a next-generation

form of brachytherapy, BrachySeed Pd-103. It is a therapy for prostate

cancer that involves implanting small radioactive pellets into the

prostate. The North American market for this therapy, the company

estimates, is $220 million to $250 million.

Cytogen markets and develops products for targeted delivery of diagnostic

and therapeutic substances directly to sites of disease. The 21-year-old

firm has 48 employees in Princeton.

i-STAT Corporation (STAT), 104 Windsor Center Drive,

East Windsor 08520. William P. Moffitt, president and CEO. 609-443-9300;

fax, 609-443-9310. Home page:

Lorin Randall has replaces Roger Mason as the chief financial officer

and treasurer. Randall had been CFO at CFM Technologies, a maker of

semiconductor equipment in Exton, Pennsylvania. Founded in 1984, i-Stat

makes diagnostic blood analysis equipment such as handheld blood analyzers.

It has 150 employees here.

NexMed Inc. (NEXM), 350 Corporate Boulevard, Robbinsville

08691. Joseph Mo, chairman, CEO, and president. 609-208-9688; fax,

609-208-1868. Home page:

NexMed’s topical cream treatment, FemProx, got a good report in a

four-week at-home study of pre-menopausal women who have been diagnosed

with sexual arousal disorder. Patients who attempted intercourse at

least three times during the four weeks had a 77 percent response

rate and a 50 percent arousal rate. NexMed develops topical creams

for sexual dysfunction for men and women

NexMed has reported heavy losses — $16.2 million on revenues of

$68,089 for 2001 — but has a 32,000-square-foot building going

up on Twin Rivers Drive.

Pharmacopeia (PCOP), 3000 Eastpark Boulevard, CN

5350, Princeton 08543. Joseph A. Mollica, CEO. 609-452-3600; fax,


John Hanlon is the new CFO at Pharmacopeia, a company that has technology

such as patented chemical screening libraries to accelerate drug discovery.

Hanlon had been president and CFO of Digital Courier Technologies,

a Salt Lake City-based electronic payment services firm.

Orchid BioSciences Inc. (ORCH), 4390 Route 1 North,

Princeton 08543. Dale R. Pfost Ph.D, chairman, president and CEO.

609-750-2200; fax, 609-750-6402.

Orchid BioSciences offers a new service to those trying to link genes

with a particular disease. Orchid has a genome scan mapping service

to identify specific locations on the genome that are associated with

particular traits. It also announced it will collaborate with Merck

on a retrospective study of 2,000 asthma patients.

The seven-year-old company offers production services and technologies

of single nucleotide polymorphism (SNP) scoring and genetic diversity


Senesco Technologies Inc. (SENO), 303 George Street,

Suite 420, New Brunswick 08901. Bruce C. Galton, president and CEO.

732-296-8400; fax, 732-296-9292.

Senesco has conditional approval to move its shares from the OTC Bulletin

Board, where they have been trading since January, 1999, to the American

Stock Exchange. The agrobiotechnology firm developing gene technology

to extend the shelf-life of produce by regulating the onset of cell

death (U.S. 1, January 19, 2000). In May it filed a new patent application

related to the possible use of the firm’s technology in cancer. Research

activity is at the University of Waterloo in Ontario.

Transave Inc., 7 Deer Park Drive, Suite N, Monmouth

Junction 08852. Claire Strupinsky, manager of corporate administration.

732-438-9434; fax, 732-438-9435.

A company that develops methods of drug delivery for lung disease

took the Best Early Stage Company prize at the NJTC’s venture fair

in May. "We went to see who we could meet — and then we got

the prize," says Claire Strupinsky.

CEO Frank Pilkiewicz believes that his firm’s inhalation technology

— Sustained release Lipid Inhalation Targeting — will be easier

and less costly to use, as well as offering higher drug levels in

the lung (U.S. 1, April 11, 2001). Founded in 1997, the 13-person

company has 3,000 square feet at Princeton Corporate Plaza.

Olivia Scientific Inc., 475 Wall Street Princeton,

609-499-7571; fax. 609-499-75761 Deer Park Drive, Suite E-1, Monmouth

Junction 08852. Kenneth Dallas, director development & research. 732-355-9920;

fax, 732-355-9921.

Olivia Scientific has its headquarters on Wall Street and a laboratory

at Princeton Corporate Plaza. It offers proprietary technology and

services in agricultural and pharmaceutical industries. Services include

research, custom synthesis, compounds, and accurate microplates processing.

Next Story

Corrections or additions?

This page is published by

— the web site for U.S. 1 Newspaper in Princeton, New Jersey.

Facebook Comments