CHS Loan Guarantee
Capital Health System: Fuld Campus, 750 Brunswick Avenue, Trenton 08638; 609-394-6000; fax, 609-695-8865. Al Maghazehe PhD, president and CEO. www.capitalhealth.org.
Capital Health System President and CEO Al Maghazehe announced on December 18 that the U.S. Department of Housing and Urban Development has made a commitment to insure a loan to Capital Health System to construct its new hospital in Hopewell Township and provide extensive renovations to the Fuld Campus in Trenton. The $777 million loan is made possible through the Federal Housing Administration’s Section 242 Hospital Mortgage Insurance Program.
Cornerstone Pharmaceutical, 1 Duncan Drive, Cranbury 08512; 609-409-7050; fax, 609-409-6035. Bob Rodriguez, president & COO. Home page: www.cornerstonepharma.com.
Cornerstone Pharmaceuticals, a privately-held pharmaceutical company focused on developing drugs in the emerging field of cancer bioenergetics, has raised a minimum of $6 million from a private investor group. The proceeds are to be primarily used for advancing its clinical trials in the U.S. and Canada evaluating the safety and efficacy of its first-in-class bioenergetic Altered Energy Metabolism-Directed (AEMD) compound, CPI-613, in a variety of cancer types.
CPI-613 targets distinctive changes in energy metabolism that are associated with the vast majority of solid tumor types, as observed in non-clinical studies. CPI-613 has shown potential utility in multiple non-clinical studies including those conducted using human tumor biopsies from patients bearing lung, colon, pancreatic and breast tumors as well as cancer cell lines resistant to traditional chemotherapeutics. CPI-613 is the lead product candidate from Cornerstone’s AEMD compound platform currently being studied in human clinical trials.
Satellite Company Delivers Punjabi TV
SES Americom Inc., 4 Research Way, Princeton 08540; 609-987-4000; fax, 609-987-4517. Edward D. Horowitz, chief executive officer. Home page: www.ses-americom.com.
SES AMERICOM, a satellite services provider, has begun to distribute JUS Punjabi, the country’s first Punjabi-language network, which serves the Indo-Punjabi, Sikh, and South Asian communities throughout the United States.
Punjabi is one of the most common languages across Pakistan and India and is widely spoken in other countries where Punjabis have emigrated in large numbers, including Australia, the United Kingdom, Canada, and the United States. JUS Punjabi, the first television channel devoted to delivering content to Punjabi-speaking audiences, is being offered nationwide over SES AMERICOM’s AMC-1 satellite.
“Punjabi is spoken by well over 110 million people worldwide which puts it right up there with French and German,” Penny Yogiraj Sandhu, president of JUS Punjabi and a native of the the India state of Punjab, said in a prepared statement. “It’s been a longtime goal to bring a quality Punjabi network to America, which is capable of reaching out to the large and vibrant Indo-Punjabi and Sikh communities living across the U.S. By partnering with SES AMERICOM, our subscribers can rest assured that their Punjabi news and entertainment will be there when they want it on JUS Punjabi.”
SES AMERICOM distributes cable, satellite, and emerging services such as IPTV, and mobile TV.
JUS Punjabi provides a complete lineup of Indian-Punjabi programming, including a variety of news shows, sitcoms, live call-in talk shows, game shows, and music to one of the fastest growing ethnic groups in this country.
Covance Inc. (CVD), 206 Carnegie Center, Princeton 08540-6681; 609-452-8550; fax, 609-452-9375. Joe Herring, CEO. Home page: www.covance.com.
Covance, a pharmaceutical contract research organization, has purchased a minority equity stake in Caprion Proteomics, the leading provider of proteomics-based services to the pharmaceutical industry.
The move is intended to boost Covance’s biomarker service offerings to clients.
Pursuant to terms of the agreement, Covance will serve as the exclusive contract research organization distributor of Caprion’s proteomic biomarker services.
In addition, Caprion will serve as Covance’s exclusive proteomic discovery provider. Through this alliance, Covance and Caprion will offer pharmaceutical and biotechnology drug development customers an integrated biomarker solution.
In connection with this acquistion, Covance is establishing a center for excellence for biomarkers and has hired Thomas Turi, who was formerly with Pfizer, as vice president of this division.
Vindication for BMS’s Plavix
Bristol-Myers Squibb Company (BMY), Route 206 and Province Line Road, Box 4000, Princeton 08543-4000; 609-252-4000. Elliott Sigal MD, chief scientific officer, president, R&D. Home page: www.bms.com.
Bristol-Myers Squibb Co. and Sanofi-Aventis SA won a U.S. appeals court ruling in their bid to prevent generic competition to the blood-thinner Plavix, the world’s second-biggest drug.
The validity of the patent on the drug has been upheld by a three-judge panel of the Washington court specializing in patent law. Canadian drugmaker Apotex Inc. argued that the patent, which expires in 2011, doesn’t contain a new invention and that Sanofi scientists used known research methods on known compounds to come up with Plavix’s key ingredient.
Plavix, whose chemical name is clopidogrel bisulfate, is the biggest seller for Bristol-Myers and the second-biggest for Sanofi. The companies are trying to prevent more competition for the drug after a brief entry into the market by Apotex in 2006 caused as much as $1.75 billion in lost sales for Bristol-Myers.
Apotex, which lost at the trial, was fighting for the right to sell a generic version of the drug. Plavix, sold by Bristol-Myers in the U.S. under an agreement with Paris-based Sanofi, last year regained its title as the world’s second-best-selling drug, behind Pfizer Inc.’s Lipitor, with $8.1 billion in global sales. The drug has been on the U.S. market since 1997.
After a failed effort to settle the case, Apotex entered the market for a short period in 2006. Bristol-Myers fired its chief executive and pleaded guilty to making false statements to federal regulators about the failed accord.
The copies cost from $1.45 billion to $1.75 billion in lost sales, Bristol-Myers claimed in a regulatory filing.
Closely held Apotex, based in Weston, Ontario, had reached an agreement that would have delayed generic competition until a few months before the patent expires in November 2011. When the agreement was rejected by U.S. regulators and state attorneys general, Apotex began selling a generic version until it was ordered to stop by U.S. District Judge Sidney Stein in New York.
Abbott Point of Care, 400 College Road East, Princeton 08540; 609-454-9000; fax, 609-419-9370. Greg Arnsdorff, president. Home page: www.abbott.com.
Abbott Point of Care has added more employees, expanded, and moved to new offices. The firm, formerly known as iStat, develops and markets hand held systems for analyzing blood at a patient’s bedside or in the surgery suite or the emergency room.
Abbott, headed by CEO Greg Arnsdorff, has grown from 120 employees to more than 300 during the past few years. To accommodate the growth, the company has moved from smaller offices, including one at 104 Windsor Center Drive in East Windsor, to Forrestal Center.
BioWa Inc., 29 Emmons Drive, Suite C 10, Princeton 08540; 609-919-1100; fax, 609-919-1111. Nobuo Hanai, president and CEO. Home page: www.biowa.com.
BioWa has licensed its Potelligent technology to GlaxoSmithKline. The technology improves potency and efficacy of antibody therapeutics by enhancing ADCC, one of the major mechanisms of action for antibody therapeutics. It works by reducing the amount of fucose in the carbohydrate structure of an antibody.
Under the terms of the agreement, BioWa will provide GlaxoSmithKline with non-exclusive commercial rights to use the technology for multiple antibodies. In return BioWa will receive technology access fees and may receive milestone payments and royalties from resulting products developed by GlaxoSmithKline.
BioWa points to research that shows that the Potelligent technology dramatically enhances ADCC activity of an antibody in vitro, and significantly increases potency and efficacy of the antibody in vivo. A number of Potelligent antibodies are being investigated in human clinical trials.
BioWa is a wholly owned subsidiary of Kyowa Hakko Kirin Co., Japan’s leading pharmaceutical and largest biotech company.
Boy Scouts of America: Central New Jersey Council, 2245 Route 130, Suite 102, Dayton 08810; 609-419-1600; fax, 609-419-4186. Marc C. Richardson, executive director. Home page: www.cnjcbsa.org.
The Central New Jersey Council of the Boy Scouts of America has relocated its headquarters from 4315 Route 1 in Monmouth Junction.
Since 1999 the Central New Jersey Council has overseen Boy Scout activities ranging from Mercer to Warren counties, and out to the Middlesex County shoreline. The headquarters also has operated the Boy Scout Store, which can be reached at 609-514-2737.
Hannover Fairs USA Inc., 2 Research Way, Princeton 08540; 609-987-1202; fax, 609-987-0092. Art Parades, president. Home page: www.hfusa.com.
Germany-based Hannover Fairs, organizer of international trade shows and exhibits, has moved its American subsidiary from 212 Carnegie Center to 2 Research Way.
Hannover Fairs is the U.S. subsidiary of Hannover, Germany’s Deutsche Messe, one of the world’s largest event organizers, and which develops and manages events in Germany and energing markets in Asia.
Munich Reinsurance America Inc., 555 College Road East, Box 5241, Princeton 08543-5241; 609-243-4200; fax, 609-243-4257. Anthony J. Kuczinski, CEO. Home page: www.munichreamerica.
Munich Re American, a reinsurance brokerage with several offices on College Road East and West, has moved its operations from 150 College Road East into its main campus. The move shuffles approximately 80 employees to the site.
Nilson Commercial Real Estate, 33 Witherspoon Street, Princeton 08540; 609-924-0900; fax, 609-921-7609. Tom Niederer, manager.
Gloria Nilson GMAC has moved its relocation office from Witherspoon Street to the company’s main site at 826 Alexander Road.
The company still operates a real estate office on Witherspoon Street, but its main relocation branch has now left for Princeton Junction, taking 10 employees with it.
Visiting Angels, 140 Darrah Lane, Lawrenceville 08648; 609-883-8188; fax, 609-716-8612. Home page: www.visitingangels.com.
Visiting Angels, provider of non-medical home and health care, has moved its operations from Lawrence Commons to Darrah Lane.
Signature Title Services, 1 Academy Avenue, Pennington 08534; 609-924-2100. William A. Slover, president.
Bill Slover, president of Signature Titel Servies, has relocated his title insurance company from 217 Nassau Street.
Levare Software, 12 Stults Road, Suite 106, Dayton 08810. Jacob Antony, president. Home page: www.levare.com.
Software development firm Levare Software, which moved from Iselin to Dayton in 2006 to accommodate growth, has left its Stults Road location.
The firm had operated offices here and in Cochin, India. The Cranbury site employed 25 people, but the grounds have been vacated and the telephone number disconnected. E-mails have gone unaswered.
Skura Ltd., 116 Village Boulevard, Princeton Forrestal Village, Suite 240, Princeton 08540.
Skura Ltd., A U.K.-based IT firm that operated an office on Village Boulevard, has gone virtual.
While the company still exists in the United States it no longer has an office here. According to company spokeswoman Carly Williams, the firm simply did not feel it needed the office space.
The firm’s 30 employees, however, have been retained and there has been no downsizing, Williams says. Skura can still be reached in th U.S. at 866-722-2040.
Albin Tadeusz “Ted” Bielawski, 71, died December 18. He was the former president of his family’s firm, White Eagle Printing Company of Hamilton, and at the time of his death was serving on the firm’s board to directors.
LeRoy “Pete” C. Grover Jr., 88, died December 20. A lifelong farmer, he was the co-owner and operator of Grover Farm in West Windsor.