Corrections or additions?
This article by Barbara Fox was published in U.S. 1 Newspaper on November 10, 1999. All rights reserved.
Tax Credit Winners
Sixty one companies were declared eligible to sell their
tax losses. Of those, 22 are located in the Princeton area, and one-fourth
of those have nothing to do with biotech. Half of the firms are publicly
held.
Software
The multimedia firm so much in the news with virtual ads for TV sports
is Princeton Video Image on Princess Road (https://www.pviimagge.com). Also
on the eligible list is Voxware (https://www.voxware.com) on College Road,
with its speech-recognition automation products.
High Tech
High-tech manufacturing firms include Photon Technology International
(https://www.pti-nj.com) at Princeton Corporate Plaza, Ocean Power Technologies
on Reed Road, Systech Solutions Inc. (https://www.systech-tips.com) at Cedar
Brook Corporate Center, and two companies under the WorldWater Corp.
umbrella at Pennington Business Park (https://www.worldwater.com).
Biotech
Those in the biotech area include Medarex (https://www.medarex.com), which
has just moved its corporate headquarters to 707 State Road at Princeton
Gateway. Also Anthra Pharmaceuticals at the Carnegie Center, NuCycle
Therapy Inc. (formerly Phytotech) at Deer Park Drive, Celgene Corporation,
with a division that is moving into New Jersey Technology Center II,
Interferon Sciences (https://www.interferonsciences.com) on Jersey Avenue
in New Brunswick, The Liposome Company Inc. (https://www.lipo.com) and Cytogen
Corporation (https://www.cytogen.com), both on College Road.
Also Hymedix Inc. (https://www.hymedix.com) on Route 130, and Integra LifeSciences
Corporation (https://www.integra-ls.com) at Morgan Lane. Also the toothpaste
company, Enamelon, at Cedar Brook Corporate Center (https://www.enamelon.com).
Medical Devices
EchoCath Inc. on Route 1 North makes ultra-sound guided surgical instruments.
Drug Development
Small Molecule Therapeutics Inc. (https://www.smtherapeutics.com) at Deer
Park Drive, Aesgen Inc. at 2 Research Way, and Xechem Inc. and Xechem
International Inc., (https://www.xechem.com) both on Jersey Avenue in New Brunswick — all
are looking for new drugs.
“Lots of companies have closed down their shops,” saysRamesh Pandey, CEO of Xechem, Xechem International, and Xetapharm.”We had to cut down our staff, but least we are open, and I hopeto bring back the staff. We are really looking forward to this. Unfortunatelyit has taken a little longer time than we thought, but as long asit comes through — whatever we can get, it will be very very helpful.””In the biotech area, equity market conditions are negative,”says Paul McGarty, president of Aesgen on Research Way. “We aresmall enough to control our cash flow now, but this will help us achievemore milestones before we have to raise more money. At the end ofthe day this will help some biotechs bridge tough times.”– Barbara FoxFor an explanation of the tax loss credits go to the previous story.Previous StoryNext StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
