The New Jersey Economic Development Authority has awarded $35 million to 40 companies, including 11 Route 1-area companies, as part of its tax certificate transfer program. The program allows unprofitable businesses engaged in research and development to sell their loss claims to other businesses, which can in turn claim the losses on their own and therefore pay less in taxes.
In effect it is a tax break for technology companies.
The following Route 1 Corridor companies were awarded tax certificate transfers:
SightLogix/Automated Threat Detection, 745 Alexander Road, Suites 5 and 6, Princeton 08540. 609-951-0008. John Romanowich, president & CEO. www.sightlogix.com.
A maker of intelligent video surveillance systems for surveying large outdoor areas.
Soligenix (SNGX), 29 Emmons Drive, Suite C-10, Princeton 08540. 609-538-8200. Christopher J. Schaber, CEO. www.soligenix.com.
A biopharmaceutical company developing treatments for cancer, pediatric Crohn’s disease, acute radiation syndrome, and other conditions.
Ocean Power Technologies (OPTT), 1590 Reed Road, Building A, Suite 1, Pennington 08534. 609-730-0400. George Kirby, CEO. www.oceanpowertechnologies.com.
An alternative energy company developing ways to make electricity by harnessing ocean waves.
Advaxis Inc. (ADXS), 305 College Road East, Princeton 08540. 609-452-9813. Daniel J. O’Connor, CEO. www.advaxis.com.
A biotech company developing immunotherapy treatments for cancer.
United Silicon Carbide, 7 Deer Park Drive, Suite E, Monmouth Junction 08852. 732-565-9500. Chris Dries, president and CEO. www.unitedsic.com.
A maker of advanced electronic components such as electric vehicle chargers, power supplies, and variable speed motor drives.
Hurel Corp., 675 Route 1 South, Technology Center of NJ, North Brunswick 08902. 732-626-5596. Robert Freedman, CEO. www.hurelcorp.com.
A biotech company that develops bioanalytic tools, especially liver cell cultures for research.
CytoSorbents Inc. (CTSO), 7 Deer Park Drive, Suite K, Monmouth Junction 08852. 732-329-8885. Phillip Chan, CEO. www.cytosorbents.com.
A biotech company that makes blood purification devices.
Oncobiologics Inc., 7 Clarke Drive, Cranbury 08512. 609-619-3990. Pankaj Mohan PhD, founder and CEO. www.oncobiologics.com.
A biopharamaceutical company developing antibodies for immunology and oncology.
Agile Therapeutics Inc. (AGRX), 101 Poor Farm Road, third floor, Princeton 08540. 609-683-1880. Al Altomari, president. www.agiletherapeutics.com.
A pharmaceutical company specializing in developing new contraceptive products, including a once-weekly patch called Twirla.
Brilliant Light Power Inc., 493 Old Trenton Road, Cranbury 08512. 609-490-1090. Randell L. Mills, CEO. www.blacklightpower.com.
A company that says it is making power generation devices based on a kind of hydrogen atom unknown to conventional physics, discovered by the company’s founder.
CircleBlack, 353 Nassau Street, Princeton 08540. 800-315-1241. John Michel, founder. www.circleblack.com.
A developer of investment tracking software.