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Insmed Incorporated Message Board

  • insmhistorian insmhistorian Dec 24, 2013 2:17 PM Flag

    I don't remember seeing this???

    20 Middlesex technology and biotechnology companies are set to each receive an estimated $1.1 million grant, the New Jersey Economic Development Authority announced.

    The New Jersey Economic Development Authority (EDA) awarded 54 companies with a share of $60 million in 2014.

    This competitive program enables technology and biotechnology companies to sell New Jersey tax losses and/or research and development tax credits to raise cash to finance their growth and operations.

    Since the program was established in 1999, more than 490 different businesses have been approved for awards totaling $770 million. Each of the 54 applicants approved this year will receive an estimated $1.1 million which is a 21 percent increase from last year.

    "The NOL Program continues to be the most popular and the most effective support for these early stage companies,” said EDA Chief Executive Officer Michele A. Brown in a release. "The Christie Administration understands that the success of the State’s greater technology industry is fundamentally tied to the growth of New Jersey’s economy. These companies have been able to raise capital and build their businesses in New Jersey as a result of this innovative program. This is exactly the kind of vital support this sector needs."

    The Middlesex companies include:
    •Amicus Therapeutics, Inc.- Biotech - Cranbury
    •Blacklight Power, Inc.- Tech- Cranbury
    •Palatin Technologies, Inc.- Biotech- Cranbury
    •Cornerstone Pharmaceuticals- Biotech- Cranbury
    •Oncobiologics Inc.- Biotech - Cranbury
    •Replication Medical, Inc.- Biotech - Cranbury
    •Vaxinnate Corporation- Biotech - Cranbury
    •Savient Pharmaceuticals, Inc. - Biotech- East Brunswick
    •Symbolic IO Corporation - Tech- Edison
    •CytoSorbents, Inc.- Biotech- Monmouth Junction
    •Insmed Incorporated- Biotech- Monmouth Junction
    •Rive Technology, Inc.- Tech - Monmouth Junction
    •TyRx Pharma, Inc.-Biotech - Monmouth Junction
    •Liquid Light- Tech- Monmouth Junction
    •Connotate Technologies, Inc.- Tech- New Brunswick

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