Management Move

Contracts Awarded

Stock News

Down-Sizing

Management Moves

Deaths

Corrections or additions?

This article by Barbara Fox was prepared for the November 27, 2002 edition of U.S. 1 Newspaper. All rights reserved.

On the Move: New in Town

Primera, 1 Deer Park Drive, Suite N, Princeton

Corporate Plaza, Monmouth Junction 08852. Bibo Xu, lab director. 732-355-9111;

fax, 732-355-9112. Www.pasc.us

Ming Zeng and Bibo Xu co-founded this firm to provide outsourcing

services for pharmaceutical, biotech, and petrochemical firms. Both

grew up in China. Zeng went to college in Beijing and has a doctor’s

degree from the University of Maryland, and Xu has his doctorate from

Penn State. Both had worked for American Cyanamid.

Hatzel & Beuhler Electric, 5A South Gold Drive,

Hamilton 08691. Scott Eyester, vice president. 609-890-1430; fax,

609-890-4896. Www.hatzelandbeuhler.com

This electrical contracting company moved from Woodbridge last summer

because it focuses on the Central Jersey area. It does work for Johnson

& Johnson, Merrill Lynch, Janssen Pharmaceutical, and Lockheed Martin.

It is headquartered in Wilmington, Delaware.

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Management Move

Middlesex County Regional Chamber of Commerce,

1 Distribution Way, Suite 101, Monmouth Junction 08852. 732-821-1700;

fax, 732-821-5852. Home page: www.mcrcc.org

Nancy Ostin has left her post as president of the Middlesex County

Chamber of Commerce. A graduate of Emerson College in Boston, she

had been at the chamber for five years.

Ostin says it was time for her to move on to another opportunity.

"In my term at the chamber, membership tripled, and two regional

chambers were merged," says Ostin. "We developed a successful

chapter program, improved the image and publicity, increased the number

of services and programs, and increased the net worth of the organization

by 130 percent." Board members say the chamber is "being reorganized."

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Contracts Awarded

The New Jersey Commission on Cancer Research has awarded

a one-year $150,000 grant to Jonathan Yavelow, a biology professor

at Rider University, and Robert Wieder of the University of Medicine

and Dentistry of New Jersey. They will study the role of bone marrow

tissue in regulating breast cancer growth. Yavelow will collaborate

with Sterling McBride and Peter Zanzucchi of the Sarnoff Corporation

to build a device that will enable better analysis of single cells.

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Stock News

Palatin Technologies Inc. (PTN), 4C Cedar Brook

Drive, Cedar Brook Corporate Center, Cranbury 08512. Carl Spana PhD,

president & CEO. 609-495-2200; fax, 609-495-2201. Home page: www.palatin.com

On Wednesday, November 20, Palatin Technologies announced it had had

a $11.5 million private placement of securities. The investors in

this offering include Perceptive Life Sciences Fund and ProMed Partners,

both of New York; and Lombard Odier Darier Hentsch of Switzerland.

The proceeds will be used to develop LeuTech, an infection imaging

agent, and further the development programs of PT-141 for the treatment

of male and female sexual dysfunction.

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Down-Sizing

InsureHiTech.com Inc., 100 Village Boulevard, Suite

200, Princeton 08540. Richard A. Maloy Jr., CEO. 609-987-0221; fax,

609-987-0490. Www.insurehitech.com

Rick Maloy had leased 12,000 square feet for his web-based insurance

business that uses an Internet platform to connect the broker with

the technology customer and the insurance company (U.S. 1, August

16, 2000). When the technology sector took a tumble, the company resized

its expectations. Instead of expanding quickly, as it had planned

to do, it quit expanding. A staff of 25 people last year is just 18

people this year, and three-fourth of the space has been sublet, with

just 3,500 remaining, says Dan McGrath, spokesperson.

The firm offers risk management and insurance placement services for

the information technology and life sciences industries. At its peak

it had 49 employees.

"What we have done is focus in the tri-state area instead of trying

to blow out across the country," says McGrath. "We are doing

a laser focus on New Jersey, and we stopped spending early enough

so that we still have cash in the kitty."

Founded by Richard A. Maloy Sr., the company was formerly known by

the Maloy family’s name. JP Morgan has contributed $14 million over

an 18-month period and has a 29 percent share of the company, but

it is primarily owned by the Maloys.

Nextira, 600 College Road East, Princeton. 609-720-8500;

fax, 609-720-8501.

Nextira’s office at 600 College Road has been vacated, and no official

information is available about its operations. Nevertheless, the unofficial

word is that the employees are still at work from offices at home.

This telecom enterprise network provider had up to 100 people working

from this office and was formerly known as Bell Atlantic Meridian

and Williams Communications Solutions.

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Management Moves

Washington Group International (WNG), 510 Carnegie

Center, Princeton 08540-5287. Thomas H. Zarges, president & CEO, power.

609-720-2000; fax, 609-720-2050. Www.wgint.com

Douglas A. Tilden is the national firm’s new chief architect for rail

and transit projects. Based at the Carnegie Center, he has a bachelor’s

degree from the University of Cincinnati and more than 35 years of

experience in architectural design for transportation projects, including

work for the Long Island Railroad, Washington Metro, Miami Metrorail,

Taipei Metro, Athens Metro in Greece, and the Korea High Speed Rail

System. David B. Thomas is senior vice president.

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Deaths

Susan J. Nesi, 53, died November 10. She was co-founder

of TJN Communications Inc., a producer of videos and books for the

pharmaceutical industry.

Gertrude B. Scheide, 93, on November 18. The wife of William

H. Scheide, the benefactor of the Scheide library at Princeton University,

she was involved in various philanthropic activities.

Bill Gregory, 69, on November 18. A senior research associate

at Colgate Palmolive, he was also an accomplished photographer.

E. Forrest Lowe, 75, on November 20. He was a banker with

Princeton Bank and Trust.

John M. Tassie, 86, on November 25. He was the former

CEO and chairman of Lenox Inc.


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