Corrections or additions?
Published in U.S. 1 Newspaper on February 23, 2000. All rights
reserved.
Orchid’s IPO
Orchid Biocomputer changed its name last week and filed
for a $90 million initial public offering on Nasdaq. In December,
1999 it had received venture capital funding of $72 million, the
largest
amount tallied by a New Jersey company for that quarter. CEO Dale
Pfost says the IPO is targeted by the middle of this year but does
not specify how many shares the firm hopes to sell.
Now known as Orchid BioSciences, the company was incubated at the
Sarnoff Center in 1995 and now has 200 employees overall, 90 of them
in a 32,000 square-foot laboratory on College Road (U.S. 1, December
8, 1999). OrbiMed Advisors LLC, a New York-based venture capital firm,
owns 9.6 percent of the company, but Sarnoff holds a 5.9 percent
stake,
and Orchid would be the first of Sarnoff’s spinoffs to go public.
Orchid has yet to make a profit.
https://www.princetoninfo.com/199912/91208c01.html
Orchid BioSciences Inc., 303A College Road East,Box 2197, Princeton 08540-2197. Dale R. Pfost Ph.D, chairman and CEO.609-750-2200; fax, 609-750-2250. Home page:https://www.orchidbio.com.Top Of PageContracts AwardedSarnoff Corporation, CN 5300, Princeton 08543-5300.James E. Carnes, president & CEO. 609-734-2000; fax, 609-734-2040.Home page: https://www.sarnoff.com.Building on its legacy of bringing color television to the masses,Sarnoff Corporation has just sealed a deal with two large electronicscompanies, which may help cement Sarnoff’s position as a leader inthe digital and high-definition (DTV/HDTV) revolution.Early in January, Sarnoff announced that it will work with SANYOManufacturingCorporation of Forrest City, Arizona, and Funai Electric Company Ltd.of Osaka, Japan, to create an affordable set-top box to convertdigitaland high definition television broadcasts for display on a standardanalog television set. Sanyo, known worldwide for its electrical andelectronic products, including televisions and VCRs, will manufacturethe set-top box, along with Funai, a major provider of TVs and VCRsunder the Funai, Symphonic, and Sylvania brands.Sarnoff’s role under the agreement is to develop a special graphicaluser interface that will reach the owners of the more than 250 millionanalog TV sets in American homes and businesses. Distribution isexpectedto begin by the fourth quarter of 2000.Top Of PageManagement MovesConvatec, a Bristol-Myers Squibb Company, 100 and200 Headquarters Park Drive, CN 5254, Princeton 08543-5254. GaryRestani,president. 908-904-2500; fax, 908-281-2687. Home page:https://www.convatec.com.Gary C. Restani, 53, replaced Patrice Froidure as president of theBristol-Myers Squibb company that makes ostomy products and woundand skin care products. He is expected to jump start sales, whichdropped one percent last year, to $719 million, with the biggestrevenue-producingline — ostomy products — dropping three percent.Restani came to B-MS in 1995 and has been president of emergingmarkets,His most recent job was to direct the orthopedic implants businessin Europe, the Middle East, and Africa for Zimmer, an Indiana-basedunit of B-MS. He has also been president of Smith & Nephew Richardsin Canada.Founded in 1978, the firm has 300 workers in Princeton and about 3,400worldwide. It belongs to the B-MS Medical Devices Group. “ConvaTecis on a reinvigorated growth track,” says John L. McGoldrick,president of the Medical Devices Group and the company’s senior vicepresident and general counsel.Top Of PageExpansionsPrinceton Ballet School, 301 North Harrison Street,Princeton Shopping Center, Suite C, Princeton 08540. Mary PatRobertson,school director. 609-921-7758; fax, 609-921-3249.The official school of the American Repertory Ballet opened a newstate-of-the art, two studio dance facility at 29 North Main Streetin Cranbury. The studio, designed by Ralph Lerner, chair of thearchitectdepartment at Princeton, will serve the 150 Princeton Ballet Schoolstudents that had been taking classes at the Princeton of PeaceLutheranChurch in East Windsor.The new facility is on the old site of “Rudy’s Classic Cars,”a 5,000-square foot single-level building that was purchased thissummer by the Princeton Ballet Society, the umbrella organizationfor PBS and ARP.Robert Wood Johnson Foundation, College Road East,Box 2316, Princeton 08543-2316. Steven A. Schroeder MD, president.609-452-8701; fax, 609-987-8845. Home page:https://www.rwjf.org.The foundation recently broke ground on a 100,000-square-footexpansion,which will accommodate new employees as well as a 120-seat auditorium.Approximately 60 new people will be added to the staff, for a totalof 187. This philanthropy provides grants for health care access andmanagement.Top Of PageCrosstown MovesGryphon Group LLC, 3 North Riding Drive, Pennington08534. Priscilla Waring, president. 609-737-6842; fax, 609-737-0915.Home page: https://www.gryphongrp.com.Priscilla Waring has relocated her marketing and communications agencyfrom an office on Wall Street to a home office in Pennington. Thephone and fax are new. She is also the new president of theAssociationfor Internet Professionals.Prior to launching her own company in 1998, Waring was senior vicepresident and director at Gallup & Robinson Inc., where she workedwith Fortune 1000 companies, including Microsoft and Hewlett-Packard.She has also been a contributing author to Industrial Marketing andMedia Week magazines,. She is a graduate of the School of ForeignService at Georgetown University.Top Of PageDeathsWalter C. Fullam on February 11. He founded PrincetonTechnical Products, an industrial coating products company andPrincetonBusiness Incubator Inc., where Princeton Gamma Tech was started.Helen L. Preston on February 12. The mother of MarvinPreston, president of NewMarkets Inc., she was an active volunteerfor Recording for the Blind.Gloria B. Halpern, 75, on February 14. She was an editorof the Princeton Packet.Eunice Urken, 89, on February 17. She and her late husbandowned Urken Supply Co. on Witherspoon Street for 50 years.Previous StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
