More than 20 U.S. 1-area tech firms will share $60 million in grants issued by the state Economic Development Authority. A total of 65 companies statewide were awarded funds as part of the state’s Technology Business Tax Certificate Transfer Program for 2013. Each of the companies will receive about $920,000.
The program enables technology and biotechnology companies to sell New Jersey tax losses and/or research and development tax credits to raise cash to finance their growth and operations. Since the program was established in 1999, more than 500 businesses have been approved for awards totaling $710 million.
“Governor Christie understands that the success of the state’s greater technology industry is fundamentally tied to the growth of New Jersey’s economy,” said EDA Chief Executive Officer Michele Brown. “The many companies that have been able to raise capital and build their businesses in New Jersey as a result of this innovative program illustrate how critical it is to provide support at this early stage.”
Mercer County companies awarded include Voxware, 200 American Metro Boulevard; Princeton Optronics, 1 Electronics Drive; Ocean Power Technologies, 1590 Reed Road; Advaxis, 305 College Road East; Agennix USA, 101 College Road East; IntegriChain, 100 Canal Pointe Boulevard; SightLogix, 745 Alexander Road; Soligenix, 29 Emmons Drive; and Alphion Corporation, 196 Princeton-Hightstown Road.
Middlesex companies include Amicus Therapeutics, 1 Cedar Brook Drive; Blacklight Power, 493 Old Trenton Road; Palatin Technologies, 4 Cedar Brook Drive, Princeton Lightwave, 2555 Route 130 South; Replication Medical, 7 Clarke Drive; Vaxinnate Corporation, 3 Cedar Brook Drive; Argyle Therapeutics, 7 Deer Park Drive; CytoSorbents, 7 Deer Park Drive; Insmed, 9 Deer Park Drive; Rive Technology, 1 Deer Park Drive; Signum Biosciences, 7 Deer Park Drive; TyRx Pharma, 1 Deer Park Drive; and Liquid Light, 11 Deer Park Drive.