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Published in U.S. 1 Newspaper on February 23, 2000. All rights
Orchid Biocomputer changed its name last week and filed
for a $90 million initial public offering on Nasdaq. In December,
1999 it had received venture capital funding of $72 million, the
amount tallied by a New Jersey company for that quarter. CEO Dale
Pfost says the IPO is targeted by the middle of this year but does
not specify how many shares the firm hopes to sell.
Now known as Orchid BioSciences, the company was incubated at the
Sarnoff Center in 1995 and now has 200 employees overall, 90 of them
in a 32,000 square-foot laboratory on College Road (U.S. 1, December
8, 1999). OrbiMed Advisors LLC, a New York-based venture capital firm,
owns 9.6 percent of the company, but Sarnoff holds a 5.9 percent
and Orchid would be the first of Sarnoff’s spinoffs to go public.
Orchid has yet to make a profit.
Box 2197, Princeton 08540-2197. Dale R. Pfost Ph.D, chairman and CEO.
609-750-2200; fax, 609-750-2250. Home page:
James E. Carnes, president & CEO. 609-734-2000; fax, 609-734-2040.
Home page: http://www.sarnoff.com.
Building on its legacy of bringing color television to the masses,
Sarnoff Corporation has just sealed a deal with two large electronics
companies, which may help cement Sarnoff’s position as a leader in
the digital and high-definition (DTV/HDTV) revolution.
Early in January, Sarnoff announced that it will work with SANYO
Corporation of Forrest City, Arizona, and Funai Electric Company Ltd.
of Osaka, Japan, to create an affordable set-top box to convert
and high definition television broadcasts for display on a standard
analog television set. Sanyo, known worldwide for its electrical and
electronic products, including televisions and VCRs, will manufacture
the set-top box, along with Funai, a major provider of TVs and VCRs
under the Funai, Symphonic, and Sylvania brands.
Sarnoff’s role under the agreement is to develop a special graphical
user interface that will reach the owners of the more than 250 million
analog TV sets in American homes and businesses. Distribution is
to begin by the fourth quarter of 2000.
200 Headquarters Park Drive, CN 5254, Princeton 08543-5254. Gary
president. 908-904-2500; fax, 908-281-2687. Home page:
Gary C. Restani, 53, replaced Patrice Froidure as president of the
Bristol-Myers Squibb company that makes ostomy products and wound
and skin care products. He is expected to jump start sales, which
dropped one percent last year, to $719 million, with the biggest
line — ostomy products — dropping three percent.
Restani came to B-MS in 1995 and has been president of emerging
His most recent job was to direct the orthopedic implants business
in Europe, the Middle East, and Africa for Zimmer, an Indiana-based
unit of B-MS. He has also been president of Smith & Nephew Richards
Founded in 1978, the firm has 300 workers in Princeton and about 3,400
worldwide. It belongs to the B-MS Medical Devices Group. "ConvaTec
is on a reinvigorated growth track," says John L. McGoldrick,
president of the Medical Devices Group and the company’s senior vice
president and general counsel.
Princeton Shopping Center, Suite C, Princeton 08540. Mary Pat
school director. 609-921-7758; fax, 609-921-3249.
The official school of the American Repertory Ballet opened a new
state-of-the art, two studio dance facility at 29 North Main Street
in Cranbury. The studio, designed by Ralph Lerner, chair of the
department at Princeton, will serve the 150 Princeton Ballet School
students that had been taking classes at the Princeton of Peace
Church in East Windsor.
The new facility is on the old site of "Rudy’s Classic Cars,"
a 5,000-square foot single-level building that was purchased this
summer by the Princeton Ballet Society, the umbrella organization
for PBS and ARP.
Box 2316, Princeton 08543-2316. Steven A. Schroeder MD, president.
609-452-8701; fax, 609-987-8845. Home page:
The foundation recently broke ground on a 100,000-square-foot
which will accommodate new employees as well as a 120-seat auditorium.
Approximately 60 new people will be added to the staff, for a total
of 187. This philanthropy provides grants for health care access and
08534. Priscilla Waring, president. 609-737-6842; fax, 609-737-0915.
Home page: http://www.gryphongrp.com.
Priscilla Waring has relocated her marketing and communications agency
from an office on Wall Street to a home office in Pennington. The
phone and fax are new. She is also the new president of the
for Internet Professionals.
Prior to launching her own company in 1998, Waring was senior vice
president and director at Gallup & Robinson Inc., where she worked
with Fortune 1000 companies, including Microsoft and Hewlett-Packard.
She has also been a contributing author to Industrial Marketing and
Media Week magazines,. She is a graduate of the School of Foreign
Service at Georgetown University.
Technical Products, an industrial coating products company and
Business Incubator Inc., where Princeton Gamma Tech was started.
Preston, president of NewMarkets Inc., she was an active volunteer
for Recording for the Blind.
of the Princeton Packet.
owned Urken Supply Co. on Witherspoon Street for 50 years.
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