New in Town
Princeton Capital Group, 6 Market Street, Suite 920, Plainsboro 08536; 732-230-3148. Mary Xia, managing partner. Home page: www.princetoncapitalgroup.com.
Princeton Capital Group, a venture and investment firm that assists American companies doing business in China and arranges financing and reverse mergers for Chinese companies, has opened an office in Plainsboro.
The company was founded in November, 2005, by Lin Li, who has 12 years experience in corporate finance in both United States and Chinese companies. Given her background in arranging deals between companies in the two countries for large investment banks, she thought “Why not go out on my own?” She did just that, bringing on Mary Xia, an investment banker with 18 years experience with big companies, including Morgan Stanley, as a partner.
Lin, who grew up in Beijing, where her father is a teacher, is a graduate of Renda University in China. She holds an MBA in finance from the University of Delaware. She lives in South Brunswick, where her company had its first office.
All of her company’s 20 employees are in China, where, she says, “labor costs are lower.”
Princeton Capital Group’s main business involves helping Chinese companies to form reverse mergers with United States companies so that they might enter U.S. public markets. “It’s much less expensive than an IPO,” Li explains, “and it takes much less time — only about two or three months.”
The advantage for the U.S. company is that it gains shares of the Chinese company once it starts trading.
In addition to arranging these deals, and helping the Chinese companies to raise capital, Princeton Capital Group offers outsourcing services to U.S. companies, helping them, for example to find manufacturers in China.
NITYO Infotech Corporation, 666 Plainsboro Road, Suite 1165, Plainsboro 08536; 609-799-5708; fax, 609-799-5746. www.nityo.com.
Nityo Infotech, an international consulting firm with offices in Asia, the U.K., the Philippines, New Zealand, California, and North Carolina, has opened an office in Plainsboro.
The company provides consulting and IT services for the telecommunications, retail, financial, and life sciences industries.
Rheosys/Viscosys Technical Services, 11 Schalks Crossing Road, Suite 626, Plainsboro 08536; 210-568-9300; fax, 210-568-7454. Home page: www.rheosys.com.
Rheosys/Viscosys Technical Services has opened an administrative office in Plainsboro. The San Antonio-based comapny manufactures viscometers, temperature controls, and accessories for the food products and industrial services industries.
InfoMatrix Inc., 666 Plainsboro Road, Suite 2000F, Plainsboro 08536; 732-947-4441; fax,732-947-4384. www.infomatrixinc.com.
InfoMatrix Inc., a software development company specializing in Internet applications, has opened an office in Plainsboro. Founded in 2003, the company is the designer of SonoWorld, a portal for information regarding ultrasound, developed with Thomas Jefferson Hospital, and the designer of an online ordering and warehousing system for Universal Business Systems.
Sunray Infosys Inc., 6 Market Street, Suite 928, Plainsboro 08536; 609-799-2700.
Sunray Infosys, which places technical and IT-oriented consultants, has opened an office in Plainsboro. The company also has offices in Rhode Island and India.
SynaMetrics, 666 Plainsboro Road, Suite 656, Plainsboro 08536; 877-796-2638; fax, 732-909-2341. Imran Hussain, principal.
Synametrics Technologies, developer of database and E-mail management software, has opened a location in Plainsboro. The firm is headed by Imran Hussain, a software engineer who grew up in Karachi, Pakistan, the son of a hardware store owner father and a fashion designer mother.
After moving to the United States in the early 1990s, Hussain studied computers at a community college before receiving his bachelor’s from Rutgers in 1993. He married his wife, Batool, in 1996.
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 has made an offer of $190 million for Kosan Biosciences of Hayward, California. The $5.50 a share offer was more than three times the stock price of the biotech.
The acquisition will give Bristol-Myers access to two promising classes of experimental cancer drugs developed by Kosan. “Kosan’s technology, coupled with our development and commercialization capabilities, will result in new treatment options for patients, and represents another important milestone in the execution of our strategy to become a next-generation biopharma leader,” Jim Cornelius, Bristol-Myers chief executive officer, said in announcing the acquisition.
The companies expect the deal to close in about 30 days with the completion of Bristol-Myers’ tender offer, which the company is financing with cash reserves.
The company will acquire Kosan’s stable of epothilone compounds if the acquisition goes through. Bristol-Myers co-markets the colorectal cancer drug Erbitux with Imclone Systems. It also sells Sprycel for chronic myeloid leukemia and the breast cancer drug Ixempra, which belongs to a chemical class called epothilones. The two companies will enter into an exclusive licensing agreement for the compounds that will remain in effect even if the merger doesn’t go through. Epothilones have potential applications in various cancers and neurodegenerative diseases.
The Kosan purchase also delivers a class of experimental drugs called heat shock proteins. One of those, Hsp90, is in late-stage clinical trials for multiple myeloma.
Saphire & Albarran Architecture LLC, 12 North Main Street, Pennington 08534; 609-921-3935; fax, 609-921-0288. Joseph E. Saphire AIA, president. Home page: www.saphirealbarran.com.
Saphire Associates, an architecture firm founded by Joseph Saphire in 1984, has changed its name and location. Formerly at 20 Nassau Street, the firm, now Saphire & Albarran Architecture, has moved to Pennington.
The firm is most noted for its academic and industrial designs, which include the Tuckerton Marine Biology Lab at Rutgers University, Daly Dining Hall at Rider University, and the Merwick Unit of University Medical Center in Princeton.
Structure Tone Inc., 300 American Metro Boulevard, American Metro Center, Suite 210, Hamilton 08619; 609-588-0362; fax, 609-631-4336. Pat Toner, vice president. Home page: www.structuretone.com.
Structure Tone Inc., a general contractor and construction manager, has moved to a larger office in American Metro Center in Hamilton. Formerly located at 200 American Metro Boulevard, the 37-year-old company is now at 300 American Metro Boulevard.
The global firm has 1,300 employees, with offices in Boston, New York, Washington, D.C., Lyndhurst, Hong Kong, and London. It also has three affiliated construction services companies. The Hamilton office has 30 employees.
Forums Institute for Public Policy, 36 Doran Avenue, Princeton 08540; 609-688-0100; fax, 609-688-0855. Linda Mather, president. Home page: www.forumsinstitute.org.
Forums Institute for Public Policy has moved from 315-316 Commons Way to a smaller office on Doran Avenue. The company helps plan, design, and facilitate meetings.
Kantrowitz & Phillippi LLC, 810 Bear Tavern Road, Suite 301, Ewing 08628; 609-530-1919; fax, 609-530-0722. Polly N. Phillippi Esq.
The law firm of Kantrowitz & Phillippi has moved from 1230 Parkway Avenue to 810 Bear Tavern Road. The firm’s main office is in Philadelphia. The partners declined an interview, but according to Lawyers.com, the firm’s areas of practice include general litigation, commercial litigation, environmental law, product liability, medical malpractice, bankruptcy, arbitration, and mediation.
RightNow Technologies (RNOW), 600 College Road East, Suite 3300, Princeton. Home page: www.rightnow.com.
RightNow Technologies, an international on-demand customer relationship management software firm, has closed its New Jersey office. The company maintains several offices around the world.
Clique Communications, 205 Rockingham Row, Princeton. Home page: www.cliquevideo.com.
After a mass lay-off on January 4, Clique Communications appears to have closed its Forrestal Village headquarters. Its offices are empty and its phone does not pick up. The company’s website is still up, but has not been updated since December.
Clique was formed about three-and-a-half-years ago from Legato Video and Netgen Video, enterprises in which a number of former Sarnoff employees were involved.
The company was put together by Edison-based Innovativ Systems and was a wholly owned subsidiary of that company. (U.S. 1, January 4, 2006). Innovativ has since been acquired by Agilysys (Nasdaq:AGYS), an international IT company with headquarters in Boca Raton, Florida, and representatives of that company say that it no longer has any connection with Clique.
Several managers remained at the Forrestal Village office after the January lay-off, but the office is now vacant.