Princeton, NJ - Bristol-Myers Squibb Company announced that the U.S. Food and Drug Administration (FDA) has granted Breakthrough Therapy Designation to the investigational compound BMS-663068 when used in combination with other antiretroviral (ARV) agents for the treatment of HIV-1 infection in heavily treatment-experienced adult patients. BMS-663068 is an oral prodrug of the molecule BMS-626529 and first-in-class HIV-1 attachment inhibitor. The attachment inhibitor is designed to work differently than entry inhibitors, a current class of drugs that targets co-receptors’ activity or fusion after HIV attaches to the CD4+ host cell. BMS-663068 is thought to work at an earlier point in the replication process to prevent the virus’ initial interaction with immune cells entirely, and thus blocks its entry into the cell.
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Washington D.C. - According to the State Science and Technology Institute (SSTI), "Although immigrants account for approximately one-fourth of U.S. science and engineering (S&E) employment, there have been relatively few academic studies published that discuss the link between these immigrants, who represent an increasing share of the U.S. workforce, and innovation in the United States. Through a broad investment from the Alfred P. Sloan Foundation, guest editors William Kerr and Sarah Turner curated a special volume of the Journal of Labor Economics to highlight recent research specifically focused on the impacts of high-skilled immigration."
Venture Capital Investing Exceeds $17 Billion for the First Time Since Q4 2000, According to Report7/27/2015 Washington D.C. - Venture capitalists invested $17.5 billion in 1,189 deals in the second quarter of 2015, according to the MoneyTree™ Report from PricewaterhouseCoopers LLP (PwC) and the National Venture Capital Association (NVCA), based on data provided by Thomson Reuters. Quarterly venture capital (VC) investment increased 30 percent in terms of dollars and 13 percent in the number of deals, compared to the first quarter when $13.5 billion was invested in 1,048 deals. The second quarter is the sixth consecutive quarter of more than $10 billion of venture capital invested in a single quarter.
North Brunswick, NJ - According to Joshua Burd of NJBiz, "When Christian Kopfli helped start Chromocell Corp. in 2002, it was similar to many other biotech startups in the state: It was a small lab focusing on research. In this case, on the use of receptor cells in the human body for therapeutics and pain relief."
Trenton, NJ - Dr. Stephen Ostroff, Acting Commissioner of the Food and Drug Administration (FDA), will serve as the featured luncheon speaker at the 3rd Annual BioNJ CEO Summit, Take It to the Top, scheduled for October 9 at the Bridgewater Marriott. Dr. Ostroff will participate in a fireside chat with Dr. William Hait, Global Head of Research and Development for Janssen, the pharmaceutical companies of Johnson & Johnson, entitled: Expediting Therapies and Cures to the Patients Who Need Them: The Evolving Role of the FDA.
Trenton, NJ - The New Jersey Economic Development Authority (EDA) continues its series highlighting how entrepreneurs and investors are helping to build New Jersey’s technology ecosystem: In 1999, scientist-turned-entrepreneur Navneet Puri earned his PhD in Pharmaceutical Sciences from Rutgers University and went on to found InnoPharma, Inc. in Piscataway just a few years later. The research and development pharmaceutical company, focused on developing complex generic and innovative specialty products in injectable and ophthalmic dosage forms, was ultimately acquired by pharmaceutical giant Pfizer last year. Under Puri’s leadership, InnoPharma had more than 30 products in various stages of development, including 10 generic products that had received Food and Drug Administration approval.
Washington D.C. – According to Michael Rosen of AEI, “Opponents of a patent “troll” reform bill currently before the House of Representatives won a significant tactical victory last week when House leadership pushed back a vote on the measure. The delay likely means a greater focus on a parallel bill that’s wending its way through the Senate and undergoing intense negotiations between lawmakers and interest groups.”
Summit, NJ – According to New Jersey Business Magazine, “Celgene Corporation and San Diego-based Receptos, Inc. sign a definitive agreement in which Celgene has agreed to acquire Receptos. Under the terms of the merger agreement, Celgene will pay $232.00 per share in cash, or a total of approximately $7.2 billion, net of cash acquired.”
Summit, NJ - Carlos Abad, founder of LaunchNJ, offers some summer reading and shares his “why” for starting the nonprofit dedicated to accelerating the entrepreneurial ecosystem in NJ. Hoping to keep New Jersey Entrepreneurs in New Jersey, Carlos Abad and LaunchNJ have grown, but there is still much to do. In a recent email sent out to the LaunchNJ contact list, he offers some summer reading:
Basking Ridge, NJ – According to New Jersey Business Magazine, Ipsen Biopharmaceuticals, Inc., an affiliate of Ipsen, announced that the U.S. Food and Drug Administration (FDA) has approved its supplemental Biologics License Application (sBLA) for Dysport® (abobotulinumtoxinA) for the treatment of upper limb spasticity (ULS) in adult patients to decrease the severity of increased muscle tone in elbow flexors, wrist flexors and finger flexors. Clinical improvement may be expected one week after administration of Dysport®.”
Moorestown, NJ – According to New Jersey Business magazine, “Lockheed Martin, with large facilities in Moorestown (in addition to other locations in the state), has entered into a definitive agreement to acquire Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft, for $9.0 billion. The price is effectively reduced to approximately $7.1 billion, after taking into account tax benefits resulting from the transaction.”
Trenton, NJ – In this month’s edition of the New Jersey Business magazine, Anthony Birritteri, Editor-in-Chief features the New Jersey’s Partnership for Action (PFA), headed by the Lt. Governor Kim Guadagno. He discusses and interviews the leaders of the state’s public-private approach to economic development and the springboard for all initiatives, policies and efforts related to growing New Jersey’s economy and creating quality, sustainable jobs.
Glassboro, NJ - The VR Center comprises an R&D VR lab, opened in 2008, a data wall for programing and design development, and prototyping capabilities. The VR Center also includes a new custom-designed, 15,000+ cubic-foot VR collaborative environment, which features a 7-foot-high by 40-foot-wide curved wall of screens that provides an area well-suited for collaborative projects.
Basking Ridge, NJ - According to Eric Strauss of NJBiz, "Memorial Sloan Kettering Cancer Center has plans to develop a $140 million outpatient cancer center in Montvale, and now it looks like it has the property to do it. On Thursday, real estate investment trust Chambers Street Properties announced it has sold a 142,500-square-foot office building in the borough to an affiliate of the cancer center for $37 million."
New Brunswick, NJ - Rutgers University Cell and DNA Repository (RUCDR) Infinite Biologics , BioRealm, LLC, and – Affymetrix, Inc. announced a broad strategic alliance. This alliance will leverage BioRealm's SmokeScreen® platform to genotype the National Institute on Drug Abuse (NIDA) biorepository of more than 50,000 samples, collected from human subjects studied in NIDA-funded research. NIDA preserves these samples in a biorepository at RUCDR Infinite Biologics, on the campus of Rutgers University.
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