Corrections or additions?
This article by Barbara Fox was prepared for the November 27, 2002 edition of U.S. 1 Newspaper. All rights reserved.
On the Move: New in Town
Primera, 1 Deer Park Drive, Suite N, PrincetonCorporate Plaza, Monmouth Junction 08852. Bibo Xu, lab director. 732-355-9111;fax, 732-355-9112. Www.pasc.usMing Zeng and Bibo Xu co-founded this firm to provide outsourcingservices for pharmaceutical, biotech, and petrochemical firms. Bothgrew up in China. Zeng went to college in Beijing and has a doctor’sdegree from the University of Maryland, and Xu has his doctorate fromPenn State. Both had worked for American Cyanamid.Hatzel & Beuhler Electric, 5A South Gold Drive,Hamilton 08691. Scott Eyester, vice president. 609-890-1430; fax,609-890-4896. Www.hatzelandbeuhler.comThis electrical contracting company moved from Woodbridge last summerbecause it focuses on the Central Jersey area. It does work for Johnson& Johnson, Merrill Lynch, Janssen Pharmaceutical, and Lockheed Martin.It is headquartered in Wilmington, Delaware.Top Of PageManagement MoveMiddlesex County Regional Chamber of Commerce,1 Distribution Way, Suite 101, Monmouth Junction 08852. 732-821-1700;fax, 732-821-5852. Home page: www.mcrcc.orgNancy Ostin has left her post as president of the Middlesex CountyChamber of Commerce. A graduate of Emerson College in Boston, shehad been at the chamber for five years.Ostin says it was time for her to move on to another opportunity.”In my term at the chamber, membership tripled, and two regionalchambers were merged,” says Ostin. “We developed a successfulchapter program, improved the image and publicity, increased the numberof services and programs, and increased the net worth of the organizationby 130 percent.” Board members say the chamber is “being reorganized.”Top Of PageContracts AwardedThe New Jersey Commission on Cancer Research has awardeda one-year $150,000 grant to Jonathan Yavelow, a biology professorat Rider University, and Robert Wieder of the University of Medicineand Dentistry of New Jersey. They will study the role of bone marrowtissue in regulating breast cancer growth. Yavelow will collaboratewith Sterling McBride and Peter Zanzucchi of the Sarnoff Corporationto build a device that will enable better analysis of single cells.Top Of PageStock NewsPalatin Technologies Inc. (PTN), 4C Cedar BrookDrive, Cedar Brook Corporate Center, Cranbury 08512. Carl Spana PhD,president & CEO. 609-495-2200; fax, 609-495-2201. Home page: www.palatin.comOn Wednesday, November 20, Palatin Technologies announced it had hada $11.5 million private placement of securities. The investors inthis offering include Perceptive Life Sciences Fund and ProMed Partners,both of New York; and Lombard Odier Darier Hentsch of Switzerland.The proceeds will be used to develop LeuTech, an infection imagingagent, and further the development programs of PT-141 for the treatmentof male and female sexual dysfunction.Top Of PageDown-SizingInsureHiTech.com Inc., 100 Village Boulevard, Suite200, Princeton 08540. Richard A. Maloy Jr., CEO. 609-987-0221; fax,609-987-0490. Www.insurehitech.comRick Maloy had leased 12,000 square feet for his web-based insurancebusiness that uses an Internet platform to connect the broker withthe technology customer and the insurance company (U.S. 1, August16, 2000). When the technology sector took a tumble, the company resizedits expectations. Instead of expanding quickly, as it had plannedto do, it quit expanding. A staff of 25 people last year is just 18people this year, and three-fourth of the space has been sublet, withjust 3,500 remaining, says Dan McGrath, spokesperson.The firm offers risk management and insurance placement services forthe information technology and life sciences industries. At its peakit had 49 employees.”What we have done is focus in the tri-state area instead of tryingto blow out across the country,” says McGrath. “We are doinga laser focus on New Jersey, and we stopped spending early enoughso that we still have cash in the kitty.”Founded by Richard A. Maloy Sr., the company was formerly known bythe Maloy family’s name. JP Morgan has contributed $14 million overan 18-month period and has a 29 percent share of the company, butit is primarily owned by the Maloys.Nextira, 600 College Road East, Princeton. 609-720-8500;fax, 609-720-8501.Nextira’s office at 600 College Road has been vacated, and no officialinformation is available about its operations. Nevertheless, the unofficialword is that the employees are still at work from offices at home.This telecom enterprise network provider had up to 100 people workingfrom this office and was formerly known as Bell Atlantic Meridianand Williams Communications Solutions.Top Of PageManagement MovesWashington Group International (WNG), 510 CarnegieCenter, Princeton 08540-5287. Thomas H. Zarges, president & CEO, power.609-720-2000; fax, 609-720-2050. Www.wgint.comDouglas A. Tilden is the national firm’s new chief architect for railand transit projects. Based at the Carnegie Center, he has a bachelor’sdegree from the University of Cincinnati and more than 35 years ofexperience in architectural design for transportation projects, includingwork for the Long Island Railroad, Washington Metro, Miami Metrorail,Taipei Metro, Athens Metro in Greece, and the Korea High Speed RailSystem. David B. Thomas is senior vice president.Top Of PageDeathsSusan J. Nesi, 53, died November 10. She was co-founderof TJN Communications Inc., a producer of videos and books for thepharmaceutical industry.Gertrude B. Scheide, 93, on November 18. The wife of WilliamH. Scheide, the benefactor of the Scheide library at Princeton University,she was involved in various philanthropic activities.Bill Gregory, 69, on November 18. A senior research associateat Colgate Palmolive, he was also an accomplished photographer.E. Forrest Lowe, 75, on November 20. He was a banker withPrinceton Bank and Trust.John M. Tassie, 86, on November 25. He was the formerCEO and chairman of Lenox Inc.Next StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
