The New Jersey Economic Development Authority is hosting a vendor fair, with vendors from the life sciences industry, on Wednesday, November 9, at 11 a.m. at the Commercialization Center for Innovative Technologies at 675 Route 1 in North Brunswick. The event is free with registration. For more information, visit www.njeda.com.
But just what is the NJEDA, and what is the CCIT? The Economic Development Authority has a program to help the state’s high-tech ventures, many of which are located in the Route 1 corridor. It’s no coincidence that the company picked Route 1 for the location of the CCIT, a high-tech business incubator.
The NJEDA’s Rachel Goemaat recently detailed how the CCIT helped a small pharmaceutical company go from an idea to a booming enterprise over the course of a year:
A year after becoming a tenant at the New Jersey Economic Development Authority’s (EDA) Commercialization Center for Innovative Technologies (CCIT) in North Brunswick, SunGen Pharma LLC has graduated from the life sciences incubator and moved into a larger facility in Middlesex County.
SunGen, which develops, contract manufactures, and sells pharmaceutical finishing products, specializes in the development of oral, solid, extended-release, and complex injectable therapies. Adding to the list of United States-based generic pharmaceutical companies with which it partners, SunGen signed an agreement with Elite Pharmaceuticals last month to collaborate, develop, and commercialize four generic pharmaceutical products. Two of the generic pharmaceutical products are central nervous system stimulants and the other two are classified as beta blockers.
SunGen co-CEO and president Isaac Liu told NJEDA that his company graduated from its 2,775 square feet of space at CCIT to a 12,000-square-foot facility at 303 College Road East. The company currently employs 18 and expects to expand further in the coming years.
“CCIT proved to be a great environment for networking with other small companies, vendors, and industry leaders through its organized events,” Dr. Liu said. “Support from EDA, along with our ability to utilize outside resources, enabled us to conduct two product submission batches with our partners for FDA submission. These projects could have easily cost three times more if we were not at CCIT.”
Strategically located in the heart of the state’s research corridor between Rutgers and Princeton universities, CCIT not only offers the most wet labs of any incubator in New Jersey, but also provides access to a wide array of resource and networking opportunities essential to the startup community. These include helping to identify funding sources and providing access to small business development resources and administrative support. Tenants can also take advantage of CCIT events such as New Jersey Founders & Funders, which introduces startup companies to angel and venture investors, and Lunch and Learn presentations that bring in industry experts to discuss topics relevant to emerging companies.
Of note, other successful graduates of CCIT include GENEWIZ, Advaxis, and Chromocell, which are all thriving and today employ a total of more than 500 people in New Jersey.
“We are glad to have provided SunGen with an environment that nurtured its development and we are excited that it will join the growing list of graduates that have chosen to remain and expand in New Jersey,” EDA CEO Melissa Orsen said.
With SunGen’s expected graduation, approximately 2,400 square feet of lab space and two offices will soon be available at CCIT for emerging life science companies looking to utilize incubation space as they grow. CCIT is one of the more significant incubation facilities in the nation dedicated to life sciences and biotechnology companies. Companies interested in leasing space at CCIT can call Lenzie Harcum at 732-839-1880 to schedule a tour.