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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
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.
Hamilton 08691. Scott Eyester, vice president. 609-890-1430; fax,
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.
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."
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.
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.
200, Princeton 08540. Richard A. Maloy Jr., CEO. 609-987-0221; fax,
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’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.
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.
of TJN Communications Inc., a producer of videos and books for the
H. Scheide, the benefactor of the Scheide library at Princeton University,
she was involved in various philanthropic activities.
at Colgate Palmolive, he was also an accomplished photographer.
Princeton Bank and Trust.
CEO and chairman of Lenox Inc.
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