NORTH BRUNSWICK, N.J. (July 27, 2017) – When Rutgers University Associate Professor Dr. Nathan Treff co-founded Genomic Prediction earlier this year to help couples undergoing fertility treatments test their embryos for chromosomal abnormalities and genetic disorders, his requirements included a wet lab with a multitude of amenities and easy access to both New York and Philadelphia. Through word of mouth from industry leaders, Treff learned the many benefits offered by the New Jersey Economic Development Authority’s (EDA’s) Commercialization Center for Innovative Technologies (CCIT) and decided to set down his company’s roots at the life sciences incubator.

“CCIT is widely known as a hub of activity within the State’s biotechnology industry and is brimming with companies impacting the global marketplace,” EDA Chief Executive Officer (CEO) Melissa Orsen said. “We welcome Genomic Prediction to this collaborative community and look forward to adding the company to the growing list of CCIT success stories.”

CCIT, which is considered to be one of the most significant incubation facilities in the nation dedicated to life sciences and biotechnology, is strategically located in the heart of the State’s research corridor between Rutgers and Princeton universities and offers the most wet labs of any incubator in New Jersey. At CCIT, Genomic Prediction will have access to affordable “plug and play” ready lab and office space, educational programs, and a wealth of supporting resources. The company’s founders will have many opportunities to network with other entrepreneurs at the life sciences incubator. Additionally, CCIT’s advisory board includes representation from pharmaceutical and biotechnology businesses and academia to coach companies into the future. 

Genomic Prediction, which began leasing a small lab and an office at CCIT in June, provides services for advanced genetic testing for In Vitro Fertilization (IVF). The company, which intends to make its CCIT lab the core of its national and international activities, has developed a variation of a current test known as pre-implantation genomic screening (PGS), which screens embryos before implantation into the mother. PGS assesses embryos fertilized in a lab and determines from their DNA which embryos are normal and healthy, screening out diseases and improving newborn health by identifying which embryos are genetically normal. Genomic Prediction has developed and released to market a PGS technological innovation called ⓖSEQ, which does this task with higher sensitivity and accuracy, lower cost, and vastly easier laboratory protocol than existing tests. Genomic Prediction is also soon to release a proprietary technology called EPⓖT, which allows testing of an expanded set of genetic variants compared to standard PGS, including a wider variety of chromosomal conditions, single and polygenic gene diseases, and other abnormalities, providing a visualized digital report for the doctor with crucial genotypes and numbers. The company is also developing educational software for doctors to use in creating and reviewing these laboratory reports, seeing the provision of accurate, intuitive information to the clinician as a key component of the IVF puzzle. 

Along with Dr. Treff, who serves as Genomic Prediction’s Chief Science Officer, the company was co-founded by Dr. Laurent Christian Asker Melchior Tellier, the company’s Chief Executive and Technology Officer and Dr. Stephen Hsu, Chairman of the Board. All three have an extensive background teaching genomics in universities around the world and each brings a unique background in genetics, obstetrics and IVF to their respective positions within Genomic Prediction.

@NJEDATech asked Dr. Treff about his plans to grow Genomic Prediction in New Jersey:

Why did Genomic Prediction choose to grow here in New Jersey?
Some of our key personnel have developed relationships in New Jersey, including Rutgers University; that made the decision to reside in New Jersey very practical.  The CCIT is located in a hotspot for genomic research and as a result it has been very easy to find highly talented individuals in our field.

What CCIT resources do you plan to use as you expand your company?
CCIT has already provided us with amazing support for developing our laboratory and business, including referrals to financial consultants and top-notch life science vendors.  In addition, the plug-and-play laboratory space and administrative support from the program officer and specialist has made the initial setup extremely convenient and smooth.  The NJEDA Venture Officers also brought the New Jersey Angel Investor tax credit program to our attention, giving us an opportunity to significantly improve our investor relations moving forward.  Due to this incredible support, we have reached important milestones ahead of schedule.  Finally, many of the existing tenants have given us support during our setup phase and we have begun to establish collaborative efforts that will undoubtedly improve our ability to succeed.

What is Genomic Prediction’s biggest success to date?
Our long-term goal of being the first provider of polygenic disorder preimplantation genetic testing has seen great advancements as our bioinformatics team develops rigorous validation from public and private biorepositories.  For example, we are working on polygenic tests for predicting risk of
conditions such as Type I Diabetes. This, in parallel with the development of novel molecular genetic testing strategies has placed us in an exciting position of establishing Genomic Prediction as a pioneer in preimplantation genetic testing.

What’s on the horizon for your company? 
We are planning our first exhibit at the American Society for Reproductive Medicine Annual Conference in San Antonio in late October and hope to make a big splash.  Preimplantation genetic testing has seen little innovation in the last several years and we believe the introduction of polygenic disease testing will be seen as such. In the next two months, we plan to launch our official website and begin shipping beta test kits to key collaborators throughout the world.

For more information about resources available to support New Jersey’s technology industry, visit https://www.njeda.gov/tls and follow @NJEDATech on Twitter and LinkedIn.

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Gorsegner Brothers Owner Dan Gorsegner met with EDA President/COO Tim Lizura and Ocean First Commercial Lender Vice President Christine Gray to discuss his company's growth and resources available to small businesses.

TRENTON, N.J. (July 19, 2017) – John Gorsegner Hardwood Floors opened its doors in Monmouth County in 1951 as a family-owned and operated business. Over time, entrepreneur John Gorsegner, Sr. turned the business over to his sons, Fred and John Gorsegner, Jr., who renamed the company Gorsegner Brothers Hardwood Floors, but maintained their father’s mission of selling and installing flooring and stair and rail systems to residential and commercial customers in the central New Jersey region. Today, the company, which also offers painting, sanding, and refurnishing services, is run by Dan Gorsegner, John Gorsegner, Jr.'s son.

In 2016, after years of assisting customers in its leased office/showroom in Atlantic Highlands, the Gorsegner brothers decided to seek a permanent location. Upon identifying a 1,900-square-foot facility in Holmdel as its new home, Gorsegner Brothers was approved for a $432,000 Ocean First Bank commercial mortgage loan with a 16.67 percent Economic Development Authority (EDA) participation through the EDA’s Premier Lender Program.

“For decades, we’ve made it our mission to carry on the family legacy and remain at the forefront with new technology and salesmanship, while maintaining a personal connection to our customers,” Dan Gorsegner said. “Thanks to the EDA’s Premier Lender Program, we were able to secure the necessary funding to buy our new facility and expand our reach to an even broader market.”

The EDA partners with Premier Lender banks to provide small businesses with low cost financing that includes EDA loan participations and/or guarantees, and line of credit guarantees. Businesses can use this financing for fixed assets or term working capital. In partnership with its 25 Premier Lenders banks, EDA can provide up to a $2 million loan participation or $1.5 million loan guarantee for fixed assets, up to a $750,000 loan participation or $1.5 million loan guarantee for term working capital, and up to a $750,000 line of credit guarantee. The full list of eligibility requirements and Premier Lender banks can be found at www.njeda.gov/premierlender. 

EDA President and Chief Operating Officer Tim Lizura visited Gorsegner Brothers today to raise awareness of the programs it offers to support small and mid-sized businesses and not-for-profits. He was joined by Ocean First Commercial Lender Vice President Christine Gray.
 
“Our Premier Lender Program offers benefits to both small businesses and participating banks,” Lizura said. “The EDA’s ability to provide guarantees or participations for a portion of these loans helps improve a business’s chance of getting approved, or of receiving a larger amount of financing, while reducing risk for lenders.”

To learn more about EDA resources for small businesses, visit www.njeda.gov/lending and follow @NJEDAWasHere on Twitter and LinkedIn.

The EDA is part of the state’s results-driven Partnership for Action. Created by Governor Christie and led by Lt. Governor Kim Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA. 

To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov or call the Business Action Center at (800) Jersey-7.

 

TRENTON, N.J. (July 13, 2017) – Following approval of Grow New Jersey (Grow NJ) tax credits by the New Jersey Economic Development Authority (EDA) Board today, Nuts.com announced its decision to expand its presence in New Jersey by opening a state-of-the-art corporate office in Jersey City, where it plans to create more than 150 new jobs.

Advanced under the New Jersey Economic Opportunity Act (EOA), Grow NJ is the State’s main job creation and retention incentive program. The approval of Grow NJ tax credits for Nuts.com was based solely on creation of new jobs in New Jersey that would otherwise be created outside of the State. The company will also maintain its primary distribution and manufacturing operations in Cranford, where it employs 158.

“I am happy to announce, with support through the Grow NJ Program, Nuts.com will move forward with our expansion in the State,” said Nuts.com Chief Executive Officer (CEO) Jeffrey Braverman. “My grandfather established this company in New Jersey 88 years ago, and we’re excited to continue his legacy and execute on our vision of offering the highest-quality product, with excellent customer service and dynamic employment opportunities.”

In 1929, entrepreneur Sol Braverman founded the Newark Nut Company, which sold nuts and dried fruit in an open-air market. Seventy years later, his grandson Jeffrey took the helm of the business as its CEO, renamed the company NutsOnline – which was rebranded as Nuts.com in 2012, and transformed it into the top online destination for the highest-quality nuts, dried fruit, snacks, and pantry staples.

Since 2003, Nuts.com has grown from four employees and offering roughly 100 items to employing nearly 180 individuals nationally and carrying approximately 4,000 products. The company conducts much of its business online, as well as from stands throughout the tristate area, including Newark Penn Station. Due to its rapid growth, the company has been exploring options to expand beyond its current operations in Cranford.

Following the approval of Grow NJ tax credits today, Nuts.com announced it will lease a 24,000-square-foot space in Jersey City, where it will invest millions to create a hi-tech workspace to house its marketing, creative and sales teams, keeping the family-owned business close to its roots in New Jersey.

Braverman envisions the new facility to be a best-in-class technology center including such features as a living “green” wall, meditation area, and modern commercial kitchen to double as an event space.

“We applaud Nuts.com’s commitment to investing and growing in the State,” EDA CEO Melissa Orsen said.

“The Braverman family represents a longstanding New Jersey small business success story, and the new, skilled jobs the company will create will add to its legacy of job creation and community engagement.”

Orsen noted that New Jersey’s food and agriculture industry is estimated to produce $105 billion in revenues annually. The State is home to more than 1,900 food manufacturing companies employing approximately 31,000 people, according to a Rutgers University study. These numbers do not include the State’s thousands of food-distribution centers, retailers, and farms.

The EDA is part of the State’s results-driven Partnership for Action.  Created by Governor Christie and led by Lt. Governor Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, The Business Action Center, the Office of the Secretary of Higher Education and the EDA. 
 
EDA Board meetings are typically held at 10 a.m. on the second Tuesday of each month at 36 West State Street in Trenton. The Board meeting schedule, as well as Board agendas and minutes, are available at www.njeda.gov. All Board actions will take effect at the expiration of the statutory period for the Governor’s review and consideration of the meeting minutes.
 
To learn more about opportunities for business growth throughout New Jersey, visit the State’s business portal at www.NewJerseyBusiness.gov or call the Business Action Center at 1-800-JERSEY7.

About Nuts.com:
Nuts.com, a family-owned company, was founded in 1929 by Poppy Sol as The Newark Nut Company. For three generations, the business has been committed to re-stocking healthy pantries with the highest-quality nuts, dried fruit, snacks, and pantry staples. An ever-growing offering of more than 4,000 products includes artisan and hard-to-find products as well as hundreds of gluten-free and organic items, truly offering something for everyone. Even though a lot has changed over the past 88 years, Nuts.com still does things the "Old Fashioned Way," buying directly from growers to source the best product and roasting nuts fresh for every order. Learn more by visiting Nuts.com.
 

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TechLaunch BullPen 2 judges and audience Members listen to pitches at NJIT.

TRENTON (July 12, 2017) – The New Jersey Economic Development Authority (EDA) has long been at the forefront of ensuring that growing technology companies have the resources they need to thrive – from loans and investments to training and mentoring opportunities. One example of this is TechLaunch, which was founded in 2012 by successful entrepreneur and angel investor, Mario Casabona, in collaboration with the EDA and New Jersey’s angel investor community. 

The investor-led technology accelerator was launched to drive the commercialization of emerging technology created by aspiring entrepreneurs. TechLaunch 1.0 provided a 16-week business boot camp program, from which entrepreneurs graduated by presenting their companies at a final “Demo Day.” It provided co-working space, mentoring, business workshops, coaching and access to capital to 26 ventures, 65 entrepreneurs, and 55 interns in the last three years.

This year, TechLaunch 2.0 features a reinvented accelerator model, moving away from the boot camp-style training program and toward single pitch events called “BullPen.” BullPen is loosely modeled after the hit ABC show “Shark Tank,” with entrepreneurs making the case for funding to a panel of investors and an audience of business leaders and academics.

Casabona and his team of entrepreneurs, angel investors, and business leaders have created a collaborative dynamic in which the BullPen functions seamlessly. Furthering the collaborative nature of New Jersey’s vibrant technology ecosystem, before and after presenting at a TechLaunch BullPen event, teams have the option to partner with one or more of TechLaunch’s 150 mentors to receive coaching and advice in areas where their companies need assistance. EDA Program Manager Kamran Hashmi serves as a TechLaunch mentor.

The bi-monthly competitions are held at university campuses throughout the State, with an average of four presenting companies per BullPen, of which three are considered early-stage, and one slot is reserved for a student entrepreneur from the hosting school. To date, BullPens have been held at Rutgers University, New Jersey Institute of Technology, Princeton University and Fairleigh Dickinson University. The next TechLaunch BullPen is scheduled for September 20 at Montclair State University. An online application can be found on TechLaunch’s website. Applications are accepted on a rolling basis.

“New Jersey is ripe with innovation, and competitions like TechLaunch BullPen give emerging entrepreneurs the opportunity for one-on-one training from mentors and face time with multiple investors,” EDA Chief Executive Officer Melissa Orsen said. “The EDA routinely attends BullPen events to keep a pulse on New Jersey’s technology sector.”

Several TechLaunch graduates and BullPen participants have also pitched to investors during the EDA’s New Jersey Founders and Funders events. Held semi-annually, New Jersey Founders & Funders enables early-stage New Jersey businesses to meet one-on-one with investors in 10-minute, “speed dating” sessions to discuss strategy, business models and funding opportunities. TechLaunch graduates FUSAR, NuSkool, and SHIELDtech have all gleaned invaluable advice through New Jersey Founders & Funders, as have BullPen #1 participant PeduL and BullPen #3 winner iSport360.

Casabona has a long history of bolstering the State’s emerging technology companies. Among his many accomplishments, he currently serves on the EDA’s Technology Advisory Board and is a Chairman Emeritus of Jumpstart New Jersey Angel Network and the Research & Development Council of New Jersey.
@NJEDATech asked Casabona about his experience as an investor in New Jersey:

Why is investing in New Jersey companies such a priority for you?
As a proud immigrant from Italy who has worked hard to fulfill the American Dream right here in New Jersey, I can’t help but feel a fierce loyalty to the State and its diverse population of likeminded, hardworking dreamers. New Jersey’s legacy is one of innovation and elevation, with countless successes in our past and countless more in our future. It just takes the right mix of leadership and vision to help steer our talented technology ecosystem toward profitable and inspiring achievements.

How do you choose which companies to bring into your portfolio?
As an entrepreneur and angel investor, my objective is to identify seed and early stage companies that have already proven themselves viable and worth my investment, based on a variety of return on investment criteria. I’m particularly interested in Northeast-based technology driven start-ups. By partnering with dynamic executive teams, I aim to commercialize innovative and industry-impacting technologies, driving them from the laboratory to the marketplace. But it’s not just a numbers game, for me. My investment strategy leans heavily on the team itself. Are team members coachable?  How much sweat equity have they invested in their company? How much have they sacrificed? These factors all play a role in managing my portfolio for my venture capital firm, Casabona Ventures, and preparing these companies for the TechLaunch BullPen.

What advice do you have for entrepreneurs participating in their first pitch competition?
Practice and preparation are the key words in approaching BullPen. This is a highly professional event, judged and attended by seasoned business people, investors and entrepreneurs widely respected throughout the State. If you think you may need some guidance in advance of BullPen, perhaps to address gaps in your business model, I encourage you to take advantage of the coaching opportunities offered by our vast stable of volunteer mentors whose expertise is sure to prove invaluable. And when you’re facing the scrutiny of the investor panel and audience, listen, and learn. Many of these investors have stood where you are now and speak from hard-earned experience.

How do you select which companies to accept into BullPen?
With TechLaunch’s transition to an accelerator centered on the pitch, our rolling application process is ideal for early stage startup companies with high growth potential and an experienced team. Our selection committee seeks out companies with an existing product, at least one potential customer on board, some seed capital in the coffers, and sweat equity of six to 12 months already banked. Participating companies should be seeking anywhere from $50,000 to $500,000 in additional funding. And bottom line: They must be coachable.

The EDA offers a multitude of resources to help technology and biotechnology companies grow and thrive in New Jersey. To learn more, visit https://www.njeda.gov/tls and follow @NJEDATech on Twitter and LinkedIn.

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TRENTON, NJ (July 12, 2017) – The New Jersey Economic Authority (EDA) today joined with Atlantic City to announce the availability of two new programs that will provide grants to street level businesses in designated commercial areas of Garden State Growth Zones (GSGZs). Created through the New Jersey Economic Opportunity Act (EOA) of 2013, GSGZs include Atlantic City, Camden, Paterson, Passaic and Trenton.

Administered by the EDA in collaboration with GSGZs, the Business Lease Incentive (BLI) and Business Improvement Incentive (BII) programs are designed to support the growth of new and expanding retail and service businesses in targeted commercial corridors. In Atlantic City, businesses located in Main Street and the Downtown Loop areas are considered eligible, as detailed here www.njeda.gov/pdfs/GSGZ_AtlanticCity_Map.aspx/.

“The new BLI and BII programs will help to attract and retain small downtown businesses and drive economic momentum and job creation in our City,” said Atlantic City Mayor Guardian. “I encourage business owners in eligible areas to take advantage of these programs. Atlantic City is uniquely positioned next to a beautiful ocean and a world-famous boardwalk. No matter what size company you have, the time to invest in Atlantic City is now!” 

The BLI program will offer reimbursement of a percentage of annual lease payments for two years to for-profit businesses and non-profit organizations in eligible areas that plan to lease between 500 and 5,000 square feet of new or additional market-rate, first-floor office, industrial or retail space for a minimum five-year term. An applicant leasing over 5,000 square feet would be eligible, but the BLI grant would only incentivize the first 5,000 square feet. The BLI program application is available at www.njeda.gov/bli.

The BII program will offer grants of up to 50 percent of total project costs, grant amount not to exceed $20,000, to businesses operating within the first floor of a commercial corridor in GSGZs that are planning to make building improvements, with a minimum project cost of $5,000. The BII program application is available at www.njeda.gov/bii.

“The BLI and BII programs will serve as a complement to the private investment occurring in GSGZs driven by the Economic Opportunity Act,” said EDA Chief Executive Officer Melissa Orsen. “These programs present an opportunity for small businesses to improve the appearance and functionality of their facilities and help to position them to capitalize on local economic momentum."

Developed in collaboration with the GSGZs, EDA worked with each community to ensure the programs meet the needs of the respective local markets. The programs have been launched on a pilot basis and up to $200,000 is available per city, per year, over the three-year life of the programs.

For general program questions please contact Christina Fuentes, Senior Community Development Officer, EDA, at 609-858-6663 or cfuentes@njeda.com.  For more information on eligible locations in Atlantic City, businesses are encouraged to contact Atlantic City Chief of Staff Chris Filiciello at cfiliciello@cityofatlanticcity.org.

The EDA offers a range of resources to support small business growth, including: low-interest loans, and bond financing. To learn more, visit www.njeda.gov/lending and follow @NJEDAWasHere on Twitter and LinkedIn.

The New Jersey Economic Development Authority's next public Board Meeting will be held on Thursday, July 13, 2017 at 10 a.m. at the EDA offices at 36 West State Street, Trenton. A copy of the proposed agenda can be found prior to the meeting at www.njeda.gov/Board. Following the Board Meeting, minutes and the full agenda will also be available at www.njeda.gov/Board.

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Pictured, from left: Justin Zoleta, Technician; Andrew Recio, Lead Technician/Manager/Service Advisor;
Jorge Recio, Owner/Service Advisor 
 

TRENTON, N.J. (July 6, 2017) – As a one-stop preventative maintenance and automotive repair center, All Towns Brake and Auto Center (All Towns) in Vauxhall has been providing critical services to the Union County community since 2007.

The family-owned business is operated by entrepreneur Jorge Recio and his son Andrew. While Jorge oversees the company’s operations, Andrew, a master technician accredited by the National Institute of Automotive Service Excellence, is the company’s manager/foreman. Jorge’s wife, Amelia, and their other son, Kevin, also share ownership in the company.

All Towns closed on a $420,500 direct loan last month through the New Jersey Economic Development Authority’s (EDA’s) Small Business Fund. Support from the loan will help to improve cash flow, enabling the Recios to invest strategically in their business.

“Countless businesses like All Towns are family-owned and operated, ensuring a personal connection to each of their customers,” EDA Chief Executive Officer Melissa Orsen said. “Through various financing programs offered by the EDA, we are able to help these businesses as they continue to provide services to their local communities.”

Among the many services that All Towns offers are air conditioning repair, brake services and systems, computerized engine analysis, and transmission maintenance. In addition, the company also serves as a certified, private New Jersey Motor Vehicle Commission (MVC) inspection facility and MVC emissions repair facility. All Towns also provides customers after-hours drop off options, a free shuttle and free wireless internet.

“We are proud of the variety of services we have offered to our growing list of clients over the last decade, and our large customer base is a testament to the quality of service we provide,” Jorge Recio said. “Support from the EDA’s Small Business Fund will enable us to devote additional resources to bolstering our business.”

The Small Business Fund provides up to $500,000 to creditworthy small, minority-owned or women-owned businesses. Eligibility requirements specify that a business must have been in operation for at least one full year. Not-for-profit corporations that have been operating for at least three full years may also be eligible. 

To learn about EDA resources for small businesses and not-for-profits, visit
https://www.njeda.gov/small_midsize_business and follow @NJEDAWasHere on Twitter and LinkedIn.
 
The EDA is part of the state’s results-driven Partnership for Action. Created by Governor Christie and led by Lt. Governor Kim Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA. 
 
To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov or call the Business Action Center at (800) JERSEY-7.

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Enteris CEO Joel Tune presents at BIO International Convention, June 21, 2017.

TRENTON (June 22, 2017) – This week’s BIO International Convention gave leaders from New Jersey’s vast life sciences ecosystem the chance to show emerging companies the advantages of establishing themselves within the State, such as its ideal location on the Eastern seaboard and the large number of pharmaceutical giants that currently call the State “home.”

“The Garden State is truly the best place to start a biopharmaceutical company,” New Jersey Economic Development Authority (EDA) Chief Executive Officer (CEO) Melissa Orsen said. “Thirteen of the world’s largest biopharmaceutical companies maintain headquarters or major operations here, which leads to increased partnerships between established and growing pharmaceutical companies, and helps the smaller companies position themselves on the world stage.”

One example of an early-stage company using its location in New Jersey to thrive is Enteris BioPharma, of Boonton, which had the opportunity to showcase its innovative technology on the global stage at the BIO International Convention.

During a presentation yesterday, Enteris CEO Joel Tune touted the company’s corporate growth strategy and its focus on developing orally delivered peptide therapeutics through its proprietary Peptelligence™ platform; these would otherwise need to be delivered by injection for a variety of indications, such as diabetes, obesity, and other metabolic disorders. Since its founding in 2013, Enteris BioPharma has advanced multiple internal and external programs leveraging its Peptelligence™ platform. Enteris’ internal pipeline consists of Ovarest™ (oral leuprolide tablet), an oral peptide for endometriosis, and Tobrate™ (oral tobramycin tablet) for the treatment of uncomplicated urinary tract infection.

Enteris also provides its oral drug-delivery technologies to biopharmaceutical companies of all sizes, ensuring development and execution of a robust formulation strategy, and fully-optimized manufacturing practices for clinical trial materials. In January 2017, Enteris entered high-profile partnerships with KeyBioScience AG, a wholly-owned subsidiary of Nordic Bioscience, to develop solutions for metabolic disorders; Sanofi to develop investigational oral therapeutics for Type 2 Diabetes; and, Ferring Pharmaceuticals to create an oral formulation of a peptide-based injectable therapeutic that Ferring is developing. Sanofi and Ferring Pharmaceuticals each maintain a significant presence in New Jersey.

Locating in New Jersey enables Enteris to take advantage of the State’s unique programs aimed at assisting early-stage companies as they grow. Enteris participated in the State’s Technology Business Tax Certificate Transfer (NOL) Program for the first time in 2016. Administered by the EDA and the New Jersey Department of the Treasury's Division of Taxation, the NOL Program allows eligible technology and life sciences companies to sell unused New Jersey net operating losses and research and development tax credits to unrelated profitable corporations.

Since the program’s inception in the late 1990s, more than 500 technology and biotechnology companies have shared a total of $905 million through the program. Companies wishing to participate in the 2017 NOL program have until June 30 to apply. Details and the application can be found at www.njeda.gov/nol.

@NJEDATech asked Tune about his company’s experience in New Jersey and its plans for the future:

Why did Enteris choose to grow here in New Jersey?

New Jersey remains an ideal location for our company because of the abundance of pharmaceutical companies and talent it offers. A key aspect of Enteris’ business is identifying and securing partnership opportunities with leading pharmaceutical companies that have interest in leveraging our PeptelligenceTM platform to develop orally delivered peptide therapeutics. Our recent agreements with Sanofi and Ferring Pharmaceuticals are emblematic of the opportunity that New Jersey offers Enteris.

What did your company find most valuable about the NOL Program?

The NOL Program was an important catalyst for Enteris as it provided financing that enabled us to advance our internal pipeline and propel our overall growth strategy. In general, the NOL Program is a very valuable resource offered by the State of New Jersey which allows emerging biotechnology companies to obtain some much-needed liquidity for growth or advancement of the business.

What is Enteris’ biggest success to date?

2017 has been a watershed year for Enteris and is highlighted by the “licensing triumvirate,” or trifecta, that we announced in January involving separate agreements with Sanofi, Ferring Pharmaceuticals and KeyBioscience AG for our PeptelligenceTM platform. These agreements served to showcase the value potential of PeptelligenceTM and catapult Enteris’ visibility as a go-to partner for those companies seeking to develop oral tablet versions of peptide therapeutics.

What’s on the horizon for your company? 

This has already been a very successful year for Enteris, but we have much on the horizon, including important advances with our internal products, Ovarest™ and Tobrate™. We also hope to see positive developments from our licensing partners and expect to secure opportunities with additional companies that have interest in our Peptelligence™ platform.

The EDA offers a multitude of resources to help technology and biotechnology companies grow and thrive in New Jersey. To learn about these resources, visit www.njeda.gov/tls and follow @NJEDATech on Twitter and LinkedIn.

TRENTON (June 13, 2017) – With a comprehensive economic development strategy that continues to attract new businesses and visitors to Camden, BB&T Pavilion has remained a critical partner in the City’s ongoing revival.  Owned by the New Jersey Economic Development Authority (EDA), the BB&T Pavilion was developed in partnership with Live Nation, which has leased and operated the venue since its opening in 1995. 

“For over two decades, this world-class entertainment facility has provided vast benefits to the City of Camden, employing residents, generating local revenue and attracting hundreds of thousands of visitors to the waterfront area,” said EDA Chief Executive Officer Melissa Orsen.  

Illustrating its community impact and commitment to the City, BB&T Pavilion hosts an annual job fair, where over 500 City residents find seasonal employment during the concert season. Jobs include security, customer service, and food and beverage concession. BB&T Pavilion has paid approximately $5.8 million to the City since 2009 via a payment-in-lieu of taxes (PILOT) agreement, making it one of the City’s highest taxpayers.  Residing on eight acres in the downtown waterfront area, the venue not only serves as an integral attraction for the nearly two million annual visitors to the City, it also hosts the Camden County Veterans Job Fair, graduation ceremonies for Rutgers University, the annual Camden Street Run, and the Camden City Wide School Fair. In addition, BB&T Pavilion donates hundreds of tickets annually to a variety of fundraisers and community organizations. 

BB&T Pavilion was named the 2016 Top Amphitheater in the country by Billboard through its annual Touring Awards, which recognizes the artists, bands, promoters, managers and venues behind the best music and comedy tours of the year. BB&T Pavilion sold an estimated 600,000 tickets last year.

“We are proud to say that one of the country’s top amphitheaters is located right here in Camden, a City that has been a great partner to Live Nation throughout our 22 years of operation,” said Geoff Gordon, Live Nation Philadelphia Regional President. 

BB&T Pavilion is a year-round facility with a 25,000-capacity outdoor amphitheater and boasts one of only two enclosable amphitheaters in the country.  In the colder months, the venue converts to a fully enclosed, climate-controlled, flexible capacity theater that can seat up to 7,000 people. In addition to a range of family programming, including Elmo, Go Diego Go, and Dora the Explorer, BB&T Pavilion consistently draws the biggest performers in the entertainment industry.  Among the shows included in its 2017 summer concert lineup is Florida Georgia Line this Friday, the Vans Warped Tour on July 7, and the Zac Brown Band on both July 14 and 15. August features Jimmy Buffett and the Coral Reefer Band on the 17, John Mayer on the 18 and Green Day on the 31.  On September 1, patrons can catch the I Love the 90’s – The Party Continues Tour, which includes iconic acts such as TLC, Naughty by Nature and Biz Markie.

“Live Nation’s commitment to the City endures,” added Gordon.  “And as we look forward to the 2017 summer concert season, we are honored that BB&T Pavilion continues to serve as an employment hub for local residents, as well as a top attraction on the Camden Waterfront.” 

Orsen lauded BB&T Pavilion for its longtime commitment to the City, noting that the venue helped pave the way for the economic development boom currently underway.  

“BB&T Pavilion has long stood as a symbol of Camden’s promise and as the City welcomes new businesses and development, Live Nation remains an important partner and source of pride for the community,” Orsen said.