Celsion Corp., 997 Lenox Drive, Suite 100, Lawrenceville 08648; 800-262-0394; Gregory Weaver, senior VP, CFO. www.celsion.com.
Celsion Corp., an oncology drug development company on Lenox Drive, has received commitments from institutional investors to purchase $15 million of the company’s securities.
The deal comes on the heels of disappointing results from the phase III trials of Thermodox for the treatment of hepatocellular carcinoma, also known as primary liver cancer. The company announced on January 22 that the drug did not meet the primary endpoint for treating patients with the disease. The value of the company’s stock plummeted, dropping from $9.35 on January 30 to $1.12 at the close of business on March 15.
Including the net proceeds from the deal, Celsion projects to have a cash and investment balance of some $47 million, which it says it intends to use for general corporate purposes.
Acino Products, 9B South Gold Drive, 609-695-4300; fax, 609-662-1897. Ravi Deshpande, president. acinoproducts.com.
Acino Products, a provider of generic pharmaceuticals, has moved from 72 Prince Street in Trenton to South Gold Drive in Hamilton. The company’s products include laxative and hemorrhoidal suppositories; vaginal lubrication inserts; and vaginal contraceptive inserts.
York Risk Services Group, 2 South Gold Drive, Robbinsville 08691; 609-807-9400; fax, 609-689-0632. Lorraine Blacknik, branch manager. www.yorkrsg.com.
York Risk Services Group, which provides insurance, risk management, pool administration, and claims management for businesses, has moved from 3 AAA Drive to South Gold Drive in Robbinsville. The company, headquartered in Parsippany, has offices in 13 states.
York, founded in the 1960s, was a family-owned business until 1996, when it was purchased by AIG. In 1999 the company opened the Parsippany office and slowly moved its headquarters functions there from Manhattan.
In 2002 the company was purchased by executive management and Bexil Corporation, a New York investment firm, and then in 2006 York undertook a recapitalization that resulted in Odyssey Investors Fund III and other related co-investors taking a majority stake, with management retaining a considerable interest in the business.
CB&I, 200 Horizon Center Boulevard, Suite 201, Trenton 08691-1904; 609-584-8900; fax, 609-588-6300. Tom Tanner, director, business development.
CB&I (Formerly Envirogen), 17 Princess Road, Suite A, Lawrenceville 08648; 609-895-5361; fax, 609-895-1858. Robert Steffan, director. www.cbi.com
The Shaw Group, an environmental firm with offices in Hamilton’s Horizon Center and on Princess Road in Lawrenceville, has been acquired by Chicago Bridge & Iron Company (CB&I).
Shareholders from both companies approved the $3 billion merger in December, and the deal was completed in mid-February. The combined company has more than $11 billion in annual revenue and a backlog of work exceeding $28 billion.
CB&I is a Netherlands-based engineering, procurement, and construction provider for the oil and gas industry. CB&I will operate Shaw as a separate business unit under the name CB&I Shaw.
“With the close of the transaction, CB&I is the most complete energy infrastructure-focused company in the world,” said Philip K. Asherman, president and CEO of CB&I, in a news release. “Through our now 50,000 talented employees, we have the capabilities and the expertise to provide our clients with a world of solutions, and a tremendous strategic advantage in responding to the growing demand for energy infrastructure around the globe.”
Dress for Success Mercer County, 3131 Princeton Pike, Building 4, Suite 113, Lawrenceville 08648; 609-896-4112; fax, 609-896-5838. Lorrie Klaric, executive director. www.dressforsuccess.org/mercercounty.
Dress for Success Mercer County, based at 3131 Princeton Pike, has been awarded a $15,000 grant from the Princeton Area Community Foundation. According to Lorrie Klaric, the organization’s executive director, the funds will be used for increased building capacity as it continues to expand its job programs and services for women.
“We appreciate the Princeton Area Community Foundation supporting our mission of promoting the economic independence of women in need by providing professional attire, a network of support, and career development tools to help women thrive in work and life,” says Klaric.
Dress for Success’ free services include: interview attire, resume writing, interview coaching, career counseling, power networking, job retention, and career advancement skills.
Parakinetics, 195 Nassau Street, Suite 25, Princeton 08542; 609-924-2334; fax. David August, president. www.parakinetics.com.
Parakinetics, a “stealth mode” start-up in the area of multi-core computer processors, has vacated its location on Nassau Street. The company’s phone number has been disconnected and its website offers no further information.
#b#New in Town#/b#
Motion Industries, 9A South Gold Drive, Robbinsville 08691; 609-588-0555; fax, 609-588-0220. John Velit, branch manager. www.motionindustries.com.
Motion Industries has opened a new location on South Gold Drive in Robbinsville.
The company is a supplier of replacement parts and services for the industrial marketplace, and has 549 locations nationally, including offices in New Brunswick, Teterboro, and Kenilworth.
Motion’s inventory of 4.3 million parts includes bearings; mechanical power transmission; electrical and industrial automation; hydraulic and industrial hose; and hydraulic and pneumatic components.
Dale Carnegie Training of Central and Southern New Jersey, 1 AAA Drive, Suite 102, Hamilton 08691; 609-631-0500; fax, 609-631-0505. Anita Zinsmeister, president. centralnj.dalecarnegie.com.
Dale Carnegie Training of Central & Southern N.J. recently moved into an office at 1 AAA Drive in Robbinsville.
The office is the provider of Dale Carnegie Training in the central New Jersey region, focusing on leadership, sales, interpersonal and communication skills for individuals, teams, and organizations.
U.S. Environmental Rental Corporation, 5C South Gold Drive, Hamilton 08691; 609-570-8555; fax, 609-570-8556. Bernard Swails, office manager. www.usenvironmental.com.
U.S. Environmental Rental has opened a new office on South Gold Drive in Hamilton. The company provides rentals, distribution, and repairs of environmental monitoring equipment and accessories.
“U.S.Environmental is dedicated to providing the newest, most technologically-advanced, rugged, reliable, and accurate instrumentation,” says the company web site.
Founded in 1996, U.S. Environmental Rental’s headquarters is located in Waltham, Massachusetts. The company also has locations in East Hartford, Connecticut, and Tampa, Florida.
Joseph Frank, 94, on February 27. He was professor emeritus of Comparative Literature at Princeton University. He also taught at Rutgers University and served as a visiting member of the Institute for Advanced Study. His five-volume biography of Dostoevsky is widely recognized as the best biography of the writer in any language, according to Princeton University Press, which published the work.
Stanley Krulikowski, 67, on March 6. He retired in 1999 as postmaster of the Hightstown Post Office.
Charles W. Eardley, 73, on March 7. He was the owner/operator of A. Hamilton Kitchens for more than 30 years until 2004.
Flora Bernice Shiarappa, 85, on March 10. She was retired from a long-time career in bookkeeping and operations at Yardville National Bank.
Victoria M. Tompkins, 66, on March 14. She was an employee of Educational Testing Service.
Kenneth T. Princiotta, 57, on March 15. He worked at Princeton University for the past 15 years.
Dana Leigh Drift, 50, on March 10. She was employed by Carrier Clinic in Skillman for 28 years, and she most recently worked at the Princeton Wawa.