CCIT Resources Help to Attract and Retain Emerging Technology Companies
Bolstering New Jersey’s already vibrant technology ecosystem, the New Jersey Economic Development Authority (EDA) recently welcomed emerging nutraceutical company Pre-D Partners as the newest tenant at the Commercialization Center for Innovative Technologies (CCIT). The EDA also renewed the lease of biotechnology business BioAegis Therapeutics at the life sciences incubator in North Brunswick.
“The incubator’s centralized location along New Jersey’s Route 1 research corridor, coupled with the numerous resources available to tenants, makes CCIT an ideal spot for emerging technology companies to grow their businesses,” EDA CEO Melissa Orsen said. “We look forward to watching Pre-D Partners and BioAegis Therapeutics thrive in the years ahead.”
Pre-D Partners recently signed a one-year lease for office space at CCIT. Pre-D Partners develops and distributes dietary supplements, sold under the brand mitoManage®, targeted to individuals with metabolic disorders, such as pre-diabetes.
CCIT offers tenant companies such as Pre-D Partners affordable lab and office space, as well as a broad array of services and programs. Tenants have access to educational and support programs such as a Lunch and Learn series, during which local enterprises speak about best practices in their industry; and the new Executive-in-Residence Program, which offers mentoring and advice to tenants from high-level life sciences executives in transition.
CCIT has welcomed 35 new tenants since 2010. When @NJEDATech asked Pre-D Partners Chief Operating Officer Gary Minkoff why he chose to join the 23 other emerging companies in growing their businesses at CCIT, he responded, “We knew the opportunity to be part of this remarkable entrepreneurial ecosystem would provide us with access to a unique set of peers, resources, support and advocacy that would be vital in helping us achieve our vision as innovators and leaders in providing science-based dietary supplements."
Earlier this month, clinical-stage biotechnology company BioAegis Therapeutics renewed its lease at the incubator. Since arriving at CCIT, BioAegis Therapeutics, which is developing groundbreaking discoveries in inflammation and infection, has taken advantage of several programs at the life sciences incubator.
BioAegis participated in New Jersey’s Founders & Funders event in March. The program was created to directly connect companies with angel and venture capital investors. During events in 2014 and 2015, more than 90 entrepreneurs and startups met with investors, paving the way for these companies to attain the funding they need to grow in the State. The next Founder & Funders event is scheduled for October 27.
BioAegis also benefitted from CCIT’s Executive-in-Residence Program and took advantage of CCIT’s first-ever vendor fair, which exposed them to service and equipment providers that can also help their business flourish.
@NJEDATech spoke to BioAegis Therapeutics Founder and CEO Susan Levinson about the company’s experience at CCIT:
Why did you choose to grow BioAegis in New Jersey?
Our company founders are from four nearby states. We analyzed the costs, resources, incentives and workforce across all four states and chose NJ primarily because of its experienced, high quality workforce and incubator facilities.
What have you found most helpful during your time at CCIT?
The helpful staff has been very supportive to our team and access to other young companies to share equipment has been very valuable.
What is BioAegis’ biggest success to date?
Our team is extremely fortunate to be working on a human protein with a wealth of research in support of the therapeutic rationale, as well as a benign safety profile. Working with a world renowned team of clinicians, we have generated human biomarker data in our targeted indication (Severe Community Acquired Pneumonia) which will allow us to minimize trial cost and risk in our Phase 2 studies.
What’s on the horizon for BioAegis?
BioAegis plans to initiate our next biomarker-driven Phase 2 trials in severe Community Acquired Pneumonia (CAP) in the European Union in early 2016. The objective will be to demonstrate that the repletion of pGSN can prevent the uncontrolled spread of inflammation without compromising immune function in critically ill patients.
Severe Community Acquired Pneumonia is a leading cause of death in the US and around the world. Patients typically proceed to Multiple Organ Dysfunction Syndrome (MODS), morbidity and mortality which generates enormous cost to the health care system. As a result of organ damage, survivors often require ongoing care after being discharged from the ICU due to lingering neurocognitive and functional disabilities. This puts an enormous incremental strain on the health care system.
For more information about the resources that CCIT offers, visit https://www.njeda.gov/ccit and follow @NJEDATech on Twitter and LinkedIn.