Trenton, N.J. (January 10, 2008) – The New Jersey Economic Development Authority (EDA) has closed a $750,000 Edison Innovation Fund investment to assist Franklin Township-based Dynamic Mobile Data Systems, Inc. (DMD), a technology company that pioneers the development of mobile resource management solutions for midsize to large enterprises. The Edison Innovation Fund, a key element of Governor Jon S. Corzine’s Economic Growth Strategy, was created to support technology and life sciences companies throughout their discovery, development and commercialization stages.


“This investment in DMD is a perfect example of how the Edison Innovation Fund is working to keep New Jersey at the forefront of technological breakthroughs,” said EDA Chief Executive Officer Caren S. Franzini. “Governor Corzine’s Economic Growth Strategy has placed a high importance on facilitating advancement in technology and life sciences within the state, and the EDA will continue to work with companies like DMD to help achieve this goal.”


The EDA, in consultation with the New Jersey Commission on Higher Education and the New Jersey Commission on Science and Technology (CST), is responsible for managing the Edison Innovation Fund. The fund will leverage $350 million in private capital that will be targeted to emerging companies as well as existing mid-sized and large technology and life science businesses.


In March 2000, DMD received a $1-million loan from Commerce Bank, which included EDA assistance of $250,000 and an EDA guarantee of $187,500. This funding helped the company expand its operations, purchase new equipment for a network operations center, and create 85 new positions.


“We were delighted to work with the EDA to assist with our funding needs,” said Kim Mills, president and CEO of Dynamic Mobile Data. “Dynamic Mobile Data is launching its new product suite called FleetCentrix, a product that helps companies with mid to large size fleets wirelessly manage their mobile assets through our on-board vehicle diagnostics and GPS software suite. The investment from the Edison Innovation Fund will be used to supplement financing for additional product development and marketing of the new enterprise software suite.”


DMD’s products include: MobileServerä, a secure and reliable wide area wireless platform infrastructure that enables two-way wireless communication with mobile resources, and the Dynamic Mobile Application Suite, designed to move mission-critical corporate information to mobile resources through an integrated set of configurable applications.


The $750,000 Edison Innovation Fund investment will be used to supplement financing for development and marketing of the new enterprise software product suite that will permit users to customize wireless data communications to their individual needs. As a result of the Edison Innovation Fund investment, DMD estimates that 15 new jobs will be created over the next two years.


Franzini noted that DMD is located within the Greater New Brunswick area’s Edison Innovation Zone, one of three “technology neighborhoods” in the state where academic and research institutions can work with companies to develop and market new products or services while enjoying certain financial incentives and other benefits. The zones were created in 2004 within the cities of Camden and Newark as well as the greater New Brunswick area to spur collaborative efforts and encourage the rapid transfer of discoveries from the laboratory to the marketplace. Edison Innovation Zones are a joint state effort involving the EDA, CST and other state agencies.


The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.


For information on the Edison Innovation Fund and to learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.


 


Trenton, N.J. (December 20, 2007) – More than 35 new and aspiring business owners will have a better chance of moving forward with their business ideas thanks to the guidance and information they acquired at a recent “Open Door Day for Entrepreneurs” hosted by the New Jersey Economic Development Authority (EDA). The event was designed to support Governor Jon S. Corzine’s Economic Growth Strategy to foster the growth of small businesses, particularly those owned by women and minorities.


 


The event provided an opportunity for graduates of the EDA’s Entrepreneurial Training Institute (ETI) to present their business plans to a panel of business service professionals to receive feedback and determine if their companies were ready to apply for funding. In addition to the presentations, representatives from small business assistance organizations and several state agencies including the Office of Economic Growth, the NJ Department of Labor and Workforce Development, the NJ Commerce Commission, and the NJ State Library were on-site to consult with each of the attendees. Participants received guidance on essential processes required to launch and grow a business, such as registering their company, obtaining appropriate certification, and the various types of lending programs available through the State.


 


“Entrepreneurs are so busy operating their small businesses that it is important for them to have a clear path to knowledgeable resources,” said EDA Chief Executive Officer Caren S. Franzini. “Our goal through ‘Open Door Day’ is to provide this opportunity.”


 


The event also marked the 15th anniversary of the ETI program, which has graduated approximately 1,300 people since it was established in 1992. In the last six years, graduates have received over $28 million in financing. Many graduates are currently on their way to establishing their own business or are already successful entrepreneurs.


 


“ETI was very supportive in helping me put together a detailed business plan, which I had never really done before,” said Laura Kellett, a recent ETI graduate. “I learned that opening a business is a process, not an event. A simple point that has been tremendously beneficial to me as I look to expand my business.”


 


Kellett graduated from the ETI program this December, and presented her business plan to the panel of small business service professionals at “Open Door Day.” In June 2007, Kellett opened LJK Enterprises Limited, a real estate brokerage and redevelopment company. She is seeking funding to expand her business based in West New York.


 


At the first “Open Door Day” held in June 2007, 90-percent of the businesses that requested funding were deemed ready for growth, and moved forward to apply for financing consideration from a pool of potential lenders.


 


The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.


 


For information on business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.


 


Trenton, N.J. (December 20, 2007) – More than 35 new and aspiring business owners will have a better chance of moving forward with their business ideas thanks to the guidance and information they acquired at a recent “Open Door Day for Entrepreneurs” hosted by the New Jersey Economic Development Authority (EDA). The event was designed to support Governor Jon S. Corzine’s Economic Growth Strategy to foster the growth of small businesses, particularly those owned by women and minorities.


 


The event provided an opportunity for graduates of the EDA’s Entrepreneurial Training Institute (ETI) to present their business plans to a panel of business service professionals to receive feedback and determine if their companies were ready to apply for funding. In addition to the presentations, representatives from small business assistance organizations and several state agencies including the Office of Economic Growth, the NJ Department of Labor and Workforce Development, the NJ Commerce Commission, and the NJ State Library were on-site to consult with each of the attendees. Participants received guidance on essential processes required to launch and grow a business, such as registering their company, obtaining appropriate certification, and the various types of lending programs available through the State.


 


“Entrepreneurs are so busy operating their small businesses that it is important for them to have a clear path to knowledgeable resources,” said EDA Chief Executive Officer Caren S. Franzini. “Our goal through ‘Open Door Day’ is to provide this opportunity.”


 


The event also marked the 15th anniversary of the ETI program, which has graduated approximately 1,300 people since it was established in 1992. In the last six years, graduates have received over $28 million in financing. Many graduates are currently on their way to establishing their own business or are already successful entrepreneurs.


 


“ETI was very supportive in helping me put together a detailed business plan, which I had never really done before,” said Laura Kellett, a recent ETI graduate. “I learned that opening a business is a process, not an event. A simple point that has been tremendously beneficial to me as I look to expand my business.”


 


Kellett graduated from the ETI program this December, and presented her business plan to the panel of small business service professionals at “Open Door Day.” In June 2007, Kellett opened LJK Enterprises Limited, a real estate brokerage and redevelopment company. She is seeking funding to expand her business based in West New York.


 


At the first “Open Door Day” held in June 2007, 90-percent of the businesses that requested funding were deemed ready for growth, and moved forward to apply for financing consideration from a pool of potential lenders.


 


The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.


 


For information on business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.


 


Trenton, N.J. (December 19, 2007) – The New Jersey Economic Development Authority (EDA) has closed a $250,000 Edison Innovation Fund investment to assist Newark-based NeuroTrax Corporation, a medical technology company that designs, develops and markets diagnostic tools for the neurological healthcare market.  The Edison Innovation Fund, a key element of Governor Jon S. Corzine’s Economic Growth Strategy, was created to support technology and life sciences companies throughout their discovery, development and commercialization stages.


“Governor Corzine created the Edison Innovation Fund to attract and retain technology and life sciences companies, and NeuroTrax is a great example of how this initiative works to enhance New Jersey’s strong record of innovation,” said EDA Chief Executive Officer Caren S. Franzini. “NeuroTrax has created a new approach to sensitive and reliable cognitive testing, and its decision to grow and invest in New Jersey is great news for the state.” 


The EDA, in consultation with the New Jersey Commission on Higher Education and the New Jersey Commission on Science and Technology, is responsible for managing the $150-million Edison Innovation Fund. The fund will leverage $350 million in private capital that will be targeted to emerging companies as well as existing mid-sized and large technology and life science businesses.


NeuroTrax Corporation’s primary product, Mindstreams®, is a web-enabled system of software-based interactive tests that measure memory, attention, decision-making, visual spatial and information processing speed, verbal skills, and motor skills to determine impairment.  The company’s spotlight has been on early detection of Alzheimer’s disease although Mindstreams® can also be applied by physicians to traumatic brain injury, attention deficit hyperactivity disorder (ADHD), Parkinson’s disease, and schizophrenia.  Mindstreams web-based design offers medical professionals a unique ability to track a patient’s decline or progress over time.  The $250,000 Edison Innovation Fund investment will be used to support the commercialization of the company’s diagnostic products and for working capital.  NeuroTrax is located in the Enterprise Development Center at the New Jersey Institute of Technology in Newark.


“We are very excited to have received this funding from the EDA,” said Dr. Ely Simon, Founder and CEO of NeuroTrax.  “The investment will help us to grow and further the establishment of Mindstreams as a standard for medical practice.  This funding proves that New Jersey is committed to helping innovative small companies succeed.” 


Franzini noted that NeuroTrax is located within the Newark Edison Innovation Zone, one of three “technology neighborhoods” in the state where academic and research institutions can work with companies to develop and market new products or services while enjoying certain financial incentives and other benefits.  The Zones were created in 2004 within the cities of Camden and Newark as well as the Greater New Brunswick Area to spur collaborative efforts and encourage the rapid transfer of discoveries from the laboratory to the marketplace.  Edison Innovation Zones are a joint state effort involving the EDA, the Commission on Science and Technology, and other state agencies.


The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.


For information on the Edison Innovation Fund and to learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.


 


Trenton, N.J. (December 17, 2007) – The New Jersey Economic Development Authority (EDA) has increased the maximum financing levels available under its Preferred Lender Program to assist growing businesses in the state that want to borrow funds at below-market rates to meet fixed asset and/or working capital needs. The program supports Governor Jon S. Corzine’s Economic Growth Strategy to nurture the growth of small and mid-size businesses, particularly those owned by women and minorities.


The Preferred Lender Program features a fast turnaround time from application to closing and applies to transactions in which the EDA provides a portion of a participating bank’s financing or guarantees part of the bank loan. Eight financial institutions currently participate in the program as Preferred Lenders: The Bank, Bank of America, Commerce Bank, New Jersey Community Capital, North Fork Bank, PNC Bank, Sovereign Bank and Sun National Bank. The program is also expanding to include more community banks.


Preferred Lender maximum limits have been raised to $1.25 million for loan participations and $1.5 million for loan guarantees on fixed asset loans for buildings and equipment and $750,000 and $1.5 million for loan participations and loan guarantees, respectively, on working capital loans to cover operating expenses. The changes complement action taken by the EDA earlier this fall when it approved similar changes to increase exposure on its other existing direct loan and guarantee programs.


“The EDA wants to ensure that New Jersey businesses have the necessary resources to expand,” said EDA Chief Executive Officer Caren S. Franzini. “That’s why we partner with banks through resources such as the Preferred Lender Program to eliminate the financial obstacles that can stall business growth.


“Our enhanced Preferred Lender Program creates new opportunities for EDA’s lending partners because it makes available more funds at below-market interest rates with flexible terms for growing businesses in New Jersey. Quick turnaround time from approval to closing provides a strong incentive for borrowers, while the EDA’s exposure by participating in or guaranteeing a portion of a loan reduces the lender’s risk,” she said.


The EDA reviews Preferred Lender Program applications and renders a decision within three business days and provides a written term sheet within two business days of approval. Upon notice from the participating lender, closing may occur within three business days.


Traditionally, the EDA had granted Preferred Lender status to institutions that presented at least 10 deals to the Authority annually. That requirement has been eliminated to make the program more accessible to smaller community banks whose size and volume of business would not normally support that number of deals, said EDA Senior Vice President of Operations Kathleen E. Stucy.


“Community banks generally focus on small and mid-size businesses, which make up a significant segment of the EDA’s core market,” she said. “By partnering with community banks through this program, we should be able to help more smaller companies obtain affordable financing to support their growth.”


Under the Preferred Lender Program, EDA participation and guarantee amounts can be up to 50 percent of the bank’s financing. Maximum total EDA participation and guarantee assistance is $2.75 million for fixed asset loans and $2.25 million for working capital loans. EDA participation and guarantee terms may be up to 10 years for fixed asset loans and up to five years for working capital loans.


Borrowers of low-interest EDA funding under the Preferred Lender Program have the option of choosing a fixed rate indexed to the five-year Treasury rate or a variable rate indexed to the Prime Rate. Businesses must be New Jersey-based, in operation for at least two years, and commit to creating at least one new job per $50,000 in EDA exposure. Manufacturers need only to maintain one job per $50,000 of EDA exposure.


To learn more about the Preferred Lender program or other products and services of the EDA, contact EDA Customer Care at CustomerCare@njeda.com or (609) 777-4898. For more information about doing business in New Jersey, visit www.NewJerseyBusiness.gov or call (866) 534-7789.


The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.


 


Trenton, N.J. (November 29, 2007) – Governor Corzine’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences.  To support this important industry sector, he proclaimed the week of November 26 to December 3 as “Life Sciences Week.”


To emphasize the valuable contribution that pharmaceutical, biotechnology and life science companies have made to the state, the Governor highlighted Daiichi Sankyo, Inc., a global pharmaceutical company with its U.S. headquarters in Parsippany, New Jersey, during Life Sciences Week. 


“Daiichi Sankyo is a shining example of a growing pharmaceutical company,” Governor Jon S. Corzine said.  “We appreciate that the company has made an investment in New Jersey and we will continue to work closely with them to encourage and support this rapid growth. I am particularly pleased to mark the success of this company during Life Sciences Week.”


Daiichi Sankyo, an emerging leader in cardiovascular care, has been experiencing stable and sustained growth in a pharmaceutical market that has seen many larger companies forced to downsize and consolidate operations.


During the past five years, the company’s U.S. Headquarters staff and its Edison-based global Clinical Development staff have both more than doubled in size. The company’s most recent expansion plans include growth of the Parsippany headquarters office to 185,000 square feet in 2008.  Further, the addition of a new Parsippany Training Center early next year will add another 32,000 square feet and provide space to train its growing U.S. sales force.  The company expects to achieve a 60 percent growth in sales over the next three years.


Since 2004, New Jersey has assisted Daiichi Sankyo in their expansion planning and approved a Business Employment Incentive Program (BEIP) grant in 2006 through New Jersey’s Economic Development Authority (NJEDA).


“We are continuing Daiichi Sankyo’s tradition of solid R&D innovation and drug discovery, and our company is well positioned to excel in the challenging U.S. marketplace.  We are committed to bringing more life science jobs to New Jersey,” said President and CEO Joseph P. Pieroni.  “The State of New Jersey has created a business environment to help cultivate the life sciences industry, and Daiichi Sankyo is thankful for the opportunity to utilize those incentives to assist with our growth.”


The Governor’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences, including workforce training initiatives to help workers develop advanced skills in order to qualify for high-quality jobs in this growing industry sector.  Launched alongside the Governor’s Economic Growth Strategy, the Edison Innovation Fund was developed to create, sustain, and grow high-tech businesses in the state.  The fund increases access to early stage capital and provides specialized assistance to existing mid-sized and large technology and life sciences businesses.


Governor Corzine’s initiatives to establish public-private partnerships with the life sciences industry have been recognized over the past two years with $15 million in federal Workforce Innovation in Regional Economic Development (WIRED) grants.


Daiichi Sankyo, Inc. is the U.S. subsidiary of Daiichi Sankyo Co., Ltd., Japan’s second largest pharmaceutical company and a global leader in pharmaceutical innovation since 1899, including the discovery of the statin class of lipid-lowering agents.


Globally, Daiichi Sankyo currently ranks as one of the top twenty pharmaceutical companies with sales last year exceeding $8 billion.  The company develops and markets drugs in five therapeutic areas:  cardiovascular, metabolic disease, oncology, immunology and anti-infectives.


For more information, call Pamela McClure at 609.292.2523 or e-mail pamela.mcclure@commerce.state.nj.us.



Trenton, N.J. (November 29, 2007) – Governor Corzine’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences.  To support this important industry sector, he proclaimed the week of November 26 to December 3 as “Life Sciences Week.”


To emphasize the valuable contribution that pharmaceutical, biotechnology and life science companies have made to the state, the Governor highlighted Daiichi Sankyo, Inc., a global pharmaceutical company with its U.S. headquarters in Parsippany, New Jersey, during Life Sciences Week. 


“Daiichi Sankyo is a shining example of a growing pharmaceutical company,” Governor Jon S. Corzine said.  “We appreciate that the company has made an investment in New Jersey and we will continue to work closely with them to encourage and support this rapid growth. I am particularly pleased to mark the success of this company during Life Sciences Week.”


Daiichi Sankyo, an emerging leader in cardiovascular care, has been experiencing stable and sustained growth in a pharmaceutical market that has seen many larger companies forced to downsize and consolidate operations.


During the past five years, the company’s U.S. Headquarters staff and its Edison-based global Clinical Development staff have both more than doubled in size. The company’s most recent expansion plans include growth of the Parsippany headquarters office to 185,000 square feet in 2008.  Further, the addition of a new Parsippany Training Center early next year will add another 32,000 square feet and provide space to train its growing U.S. sales force.  The company expects to achieve a 60 percent growth in sales over the next three years.


Since 2004, New Jersey has assisted Daiichi Sankyo in their expansion planning and approved a Business Employment Incentive Program (BEIP) grant in 2006 through New Jersey’s Economic Development Authority (NJEDA).


“We are continuing Daiichi Sankyo’s tradition of solid R&D innovation and drug discovery, and our company is well positioned to excel in the challenging U.S. marketplace.  We are committed to bringing more life science jobs to New Jersey,” said President and CEO Joseph P. Pieroni.  “The State of New Jersey has created a business environment to help cultivate the life sciences industry, and Daiichi Sankyo is thankful for the opportunity to utilize those incentives to assist with our growth.”


The Governor’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences, including workforce training initiatives to help workers develop advanced skills in order to qualify for high-quality jobs in this growing industry sector.  Launched alongside the Governor’s Economic Growth Strategy, the Edison Innovation Fund was developed to create, sustain, and grow high-tech businesses in the state.  The fund increases access to early stage capital and provides specialized assistance to existing mid-sized and large technology and life sciences businesses.


Governor Corzine’s initiatives to establish public-private partnerships with the life sciences industry have been recognized over the past two years with $15 million in federal Workforce Innovation in Regional Economic Development (WIRED) grants.


Daiichi Sankyo, Inc. is the U.S. subsidiary of Daiichi Sankyo Co., Ltd., Japan’s second largest pharmaceutical company and a global leader in pharmaceutical innovation since 1899, including the discovery of the statin class of lipid-lowering agents.


Globally, Daiichi Sankyo currently ranks as one of the top twenty pharmaceutical companies with sales last year exceeding $8 billion.  The company develops and markets drugs in five therapeutic areas:  cardiovascular, metabolic disease, oncology, immunology and anti-infectives.


For more information, call Pamela McClure at 609.292.2523 or e-mail pamela.mcclure@commerce.state.nj.us.



Trenton, N.J. (November 29, 2007) – Governor Corzine’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences.  To support this important industry sector, he proclaimed the week of November 26 to December 3 as “Life Sciences Week.”


To emphasize the valuable contribution that pharmaceutical, biotechnology and life science companies have made to the state, the Governor highlighted Daiichi Sankyo, Inc., a global pharmaceutical company with its U.S. headquarters in Parsippany, New Jersey, during Life Sciences Week. 


“Daiichi Sankyo is a shining example of a growing pharmaceutical company,” Governor Jon S. Corzine said.  “We appreciate that the company has made an investment in New Jersey and we will continue to work closely with them to encourage and support this rapid growth. I am particularly pleased to mark the success of this company during Life Sciences Week.”


Daiichi Sankyo, an emerging leader in cardiovascular care, has been experiencing stable and sustained growth in a pharmaceutical market that has seen many larger companies forced to downsize and consolidate operations.


During the past five years, the company’s U.S. Headquarters staff and its Edison-based global Clinical Development staff have both more than doubled in size. The company’s most recent expansion plans include growth of the Parsippany headquarters office to 185,000 square feet in 2008.  Further, the addition of a new Parsippany Training Center early next year will add another 32,000 square feet and provide space to train its growing U.S. sales force.  The company expects to achieve a 60 percent growth in sales over the next three years.


Since 2004, New Jersey has assisted Daiichi Sankyo in their expansion planning and approved a Business Employment Incentive Program (BEIP) grant in 2006 through New Jersey’s Economic Development Authority (NJEDA).


“We are continuing Daiichi Sankyo’s tradition of solid R&D innovation and drug discovery, and our company is well positioned to excel in the challenging U.S. marketplace.  We are committed to bringing more life science jobs to New Jersey,” said President and CEO Joseph P. Pieroni.  “The State of New Jersey has created a business environment to help cultivate the life sciences industry, and Daiichi Sankyo is thankful for the opportunity to utilize those incentives to assist with our growth.”


The Governor’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences, including workforce training initiatives to help workers develop advanced skills in order to qualify for high-quality jobs in this growing industry sector.  Launched alongside the Governor’s Economic Growth Strategy, the Edison Innovation Fund was developed to create, sustain, and grow high-tech businesses in the state.  The fund increases access to early stage capital and provides specialized assistance to existing mid-sized and large technology and life sciences businesses.


Governor Corzine’s initiatives to establish public-private partnerships with the life sciences industry have been recognized over the past two years with $15 million in federal Workforce Innovation in Regional Economic Development (WIRED) grants.


Daiichi Sankyo, Inc. is the U.S. subsidiary of Daiichi Sankyo Co., Ltd., Japan’s second largest pharmaceutical company and a global leader in pharmaceutical innovation since 1899, including the discovery of the statin class of lipid-lowering agents.


Globally, Daiichi Sankyo currently ranks as one of the top twenty pharmaceutical companies with sales last year exceeding $8 billion.  The company develops and markets drugs in five therapeutic areas:  cardiovascular, metabolic disease, oncology, immunology and anti-infectives.


For more information, call Pamela McClure at 609.292.2523 or e-mail pamela.mcclure@commerce.state.nj.us.



Trenton, N.J. (November 29, 2007) – Governor Corzine’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences.  To support this important industry sector, he proclaimed the week of November 26 to December 3 as “Life Sciences Week.”


To emphasize the valuable contribution that pharmaceutical, biotechnology and life science companies have made to the state, the Governor highlighted Daiichi Sankyo, Inc., a global pharmaceutical company with its U.S. headquarters in Parsippany, New Jersey, during Life Sciences Week. 


“Daiichi Sankyo is a shining example of a growing pharmaceutical company,” Governor Jon S. Corzine said.  “We appreciate that the company has made an investment in New Jersey and we will continue to work closely with them to encourage and support this rapid growth. I am particularly pleased to mark the success of this company during Life Sciences Week.”


Daiichi Sankyo, an emerging leader in cardiovascular care, has been experiencing stable and sustained growth in a pharmaceutical market that has seen many larger companies forced to downsize and consolidate operations.


During the past five years, the company’s U.S. Headquarters staff and its Edison-based global Clinical Development staff have both more than doubled in size. The company’s most recent expansion plans include growth of the Parsippany headquarters office to 185,000 square feet in 2008.  Further, the addition of a new Parsippany Training Center early next year will add another 32,000 square feet and provide space to train its growing U.S. sales force.  The company expects to achieve a 60 percent growth in sales over the next three years.


Since 2004, New Jersey has assisted Daiichi Sankyo in their expansion planning and approved a Business Employment Incentive Program (BEIP) grant in 2006 through New Jersey’s Economic Development Authority (NJEDA).


“We are continuing Daiichi Sankyo’s tradition of solid R&D innovation and drug discovery, and our company is well positioned to excel in the challenging U.S. marketplace.  We are committed to bringing more life science jobs to New Jersey,” said President and CEO Joseph P. Pieroni.  “The State of New Jersey has created a business environment to help cultivate the life sciences industry, and Daiichi Sankyo is thankful for the opportunity to utilize those incentives to assist with our growth.”


The Governor’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences, including workforce training initiatives to help workers develop advanced skills in order to qualify for high-quality jobs in this growing industry sector.  Launched alongside the Governor’s Economic Growth Strategy, the Edison Innovation Fund was developed to create, sustain, and grow high-tech businesses in the state.  The fund increases access to early stage capital and provides specialized assistance to existing mid-sized and large technology and life sciences businesses.


Governor Corzine’s initiatives to establish public-private partnerships with the life sciences industry have been recognized over the past two years with $15 million in federal Workforce Innovation in Regional Economic Development (WIRED) grants.


Daiichi Sankyo, Inc. is the U.S. subsidiary of Daiichi Sankyo Co., Ltd., Japan’s second largest pharmaceutical company and a global leader in pharmaceutical innovation since 1899, including the discovery of the statin class of lipid-lowering agents.


Globally, Daiichi Sankyo currently ranks as one of the top twenty pharmaceutical companies with sales last year exceeding $8 billion.  The company develops and markets drugs in five therapeutic areas:  cardiovascular, metabolic disease, oncology, immunology and anti-infectives.


For more information, call Pamela McClure at 609.292.2523 or e-mail pamela.mcclure@commerce.state.nj.us.



Trenton, N.J. (November 29, 2007) – Governor Corzine’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences.  To support this important industry sector, he proclaimed the week of November 26 to December 3 as “Life Sciences Week.”


To emphasize the valuable contribution that pharmaceutical, biotechnology and life science companies have made to the state, the Governor highlighted Daiichi Sankyo, Inc., a global pharmaceutical company with its U.S. headquarters in Parsippany, New Jersey, during Life Sciences Week. 


“Daiichi Sankyo is a shining example of a growing pharmaceutical company,” Governor Jon S. Corzine said.  “We appreciate that the company has made an investment in New Jersey and we will continue to work closely with them to encourage and support this rapid growth. I am particularly pleased to mark the success of this company during Life Sciences Week.”


Daiichi Sankyo, an emerging leader in cardiovascular care, has been experiencing stable and sustained growth in a pharmaceutical market that has seen many larger companies forced to downsize and consolidate operations.


During the past five years, the company’s U.S. Headquarters staff and its Edison-based global Clinical Development staff have both more than doubled in size. The company’s most recent expansion plans include growth of the Parsippany headquarters office to 185,000 square feet in 2008.  Further, the addition of a new Parsippany Training Center early next year will add another 32,000 square feet and provide space to train its growing U.S. sales force.  The company expects to achieve a 60 percent growth in sales over the next three years.


Since 2004, New Jersey has assisted Daiichi Sankyo in their expansion planning and approved a Business Employment Incentive Program (BEIP) grant in 2006 through New Jersey’s Economic Development Authority (NJEDA).


“We are continuing Daiichi Sankyo’s tradition of solid R&D innovation and drug discovery, and our company is well positioned to excel in the challenging U.S. marketplace.  We are committed to bringing more life science jobs to New Jersey,” said President and CEO Joseph P. Pieroni.  “The State of New Jersey has created a business environment to help cultivate the life sciences industry, and Daiichi Sankyo is thankful for the opportunity to utilize those incentives to assist with our growth.”


The Governor’s Economic Growth Strategy has placed high priority on encouraging innovation and maintaining the state’s position as a leader in technology and life sciences, including workforce training initiatives to help workers develop advanced skills in order to qualify for high-quality jobs in this growing industry sector.  Launched alongside the Governor’s Economic Growth Strategy, the Edison Innovation Fund was developed to create, sustain, and grow high-tech businesses in the state.  The fund increases access to early stage capital and provides specialized assistance to existing mid-sized and large technology and life sciences businesses.


Governor Corzine’s initiatives to establish public-private partnerships with the life sciences industry have been recognized over the past two years with $15 million in federal Workforce Innovation in Regional Economic Development (WIRED) grants.


Daiichi Sankyo, Inc. is the U.S. subsidiary of Daiichi Sankyo Co., Ltd., Japan’s second largest pharmaceutical company and a global leader in pharmaceutical innovation since 1899, including the discovery of the statin class of lipid-lowering agents.


Globally, Daiichi Sankyo currently ranks as one of the top twenty pharmaceutical companies with sales last year exceeding $8 billion.  The company develops and markets drugs in five therapeutic areas:  cardiovascular, metabolic disease, oncology, immunology and anti-infectives.


For more information, call Pamela McClure at 609.292.2523 or e-mail pamela.mcclure@commerce.state.nj.us.