Contracts Awarded

Management Moves


Crosstown Moves


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Published in U.S. 1 Newspaper on February 23, 2000. All rights


Orchid’s IPO

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.

Orchid BioSciences Inc., 303A College Road East,

Box 2197, Princeton 08540-2197. Dale R. Pfost Ph.D, chairman and CEO.

609-750-2200; fax, 609-750-2250. Home page:

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Contracts Awarded

Sarnoff Corporation, CN 5300, Princeton 08543-5300.

James E. Carnes, president & CEO. 609-734-2000; fax, 609-734-2040.

Home page:

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.

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Management Moves

Convatec, a Bristol-Myers Squibb Company, 100 and

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

in Canada.

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.

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Princeton Ballet School, 301 North Harrison Street,

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.

Robert Wood Johnson Foundation, College Road East,

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


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Crosstown Moves

Gryphon Group LLC, 3 North Riding Drive, Pennington

08534. Priscilla Waring, president. 609-737-6842; fax, 609-737-0915.

Home page:

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.

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Walter C. Fullam on February 11. He founded Princeton

Technical Products, an industrial coating products company and


Business Incubator Inc., where Princeton Gamma Tech was started.

Helen L. Preston on February 12. The mother of Marvin

Preston, president of NewMarkets Inc., she was an active volunteer

for Recording for the Blind.

Gloria B. Halpern, 75, on February 14. She was an editor

of the Princeton Packet.

Eunice Urken, 89, on February 17. She and her late husband

owned Urken Supply Co. on Witherspoon Street for 50 years.

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