Corrections or additions?
This article was prepared for the November 14, 2001 edition of
U.S. 1 Newspaper. All rights reserved.
Expansions: Klatzkin & Company
Square Road, Box 8188, Trenton 08690-8188. Barry Snyder, managing
partner. 609-890-9189; fax, 609-890-6235. Home page:
The certified public accounting and business consulting firm has
merged its technology division, Klatzkin Technologies LLC, with a
Morris County-based firm, MSI Technologies. The new company will be
known as MSI Technologies.
Klatzkin Technologies is a full-service consulting, sales,
and training operation with expertise in accounting software.
Road, Lawrenceville 08648. David Sitt and Roberto Sonabend, co-chief
executives. 609-912-9400; fax, 609-912-0044. Www.pvimage.com
After three years Dennis Wilkinson has left the position of CEO and
that job is being handled by the founders and principals of a Mexico
City-based subsidiary, Publicidad Virtual. Recently a Mexican venture
capital company, Presencia en Medios, invested more than $2 million
With more than 70 employees, PVI develops, manufactures, and sells
computer hardware and software for video processing for television
advertising production. It is known for the virtual 10-yard-line in
football games and virtual ads at telecast sporting events. Its
for the last quarter were up 26 percent from last year, and losses
fell from 29 cents per share to 19.
08540-6681. Chris Kuebler, chairman and CEO. 609-452-1408; fax,
Home page: www.covance.com
Joseph L. Herring has been promoted to president and chief operating
officer, reporting to Chris Kuebler, who remains as chairman and CEO.
Herring’s post is a new position. He helped make Covance the global
market leader in providing early development services. A graduate
of Louisiana State, he had been vice president and general manager
of oncology services for Caremark.
Princeton 08543-5300. James E. Carnes, president & CEO. 609-734-2000;
fax, 609-734-2040. Home page: www.sarnoff.com
Sarnoff pulled in its horns to cut more than 10 percent of its
about 90 positions. Many of them had been hired to staff aggressive
R&D efforts. "We had put too much credence in the growth of the
economy," says spokesperson Tom Lento, "and we quadrupled
internal investments and brought people on board." Some of the
fired researchers are still working on Sarnoff projects as
Annual revenues are likely to be flat in the $120 million range.
Suite 200, Wing A, Princeton 08540. Carl Spana PhD, president & CEO.
609-520-1911; fax, 609-452-0880. Www.palatin.com
As of November 12, Palatin Technologies had raised $11 million through
a secondary offering of 4.9 million shares. The previous week Palatin
announced its product for infection imaging, LeuTech, is being tested
to see whether it can detect anthrax more quickly than existing
A development-stage biopharmaceutical company, Palatin needs the money
to take new products through development phases and clinical trials.
Its lead drug, PT-141 for treatment of erectile dysfunction, is
in clinical trials.
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