From left: Dan O'Connor, Kathy Bloch, and Scott Jackson will offer tips and suggestions to biotechnology companies looking to go public.
NORTH BRUNSWICK, N.J. (April 19, 2017) – On April 24, the New Jersey Economic Development Authority (EDA) will host a panel discussion that will give biotechnology companies the opportunity to hear from industry leaders who have taken their businesses through the process of going public. The event is the latest in an ongoing series of biotechnology funding panel discussions hosted at the EDA’s Commercialization for Innovative Technologies (CCIT) in North Brunswick.
During “Going Public – Biotech Leaders on Their Path to Funding,” panel speakers including Advaxis President and Chief Executive Officer (CEO) Daniel O’Connor, CytoSorbents Chief Financial Officer Kathy Bloch, and former Celator Pharmaceuticals CEO Scott Jackson, will speak about their unique experiences taking their companies public. These executives will discuss the paths their EDA-supported companies took to success, insights into their strategies, and decisions they faced along the way.
The discussion, which will be moderated by CCIT Manager Lenzie Harcum, begins at 5:00 p.m. and is open to the community. The event is co-sponsored by BioNJ and the New Jersey Technology Council. Anyone interested in attending should register online at www.njeda.com/goingpublicpanel.
Just three and a half years ago, Advaxis (NASDAQ: ADXS) had five employees, was trading as a penny stock and was millions of dollars in debt. Under O’Connor’s leadership, the company up-listed to NASDAQ in 2013, raised more than $250 million and is now putting the finishing touches on new manufacturing and laboratory facilities at its Princeton headquarters. Advaxis has received support through the State’s Technology Business Tax Certificate Transfer (NOL) Program. More information about Advaxis, a graduate of the CCIT in 2011 that now has over 100 employees, and the EDA resources it used to grow, can be found at www.njeda.com/advaxisfeature.
CytoSorbents Corporation (NASDAQ: CTSO) is a critical care immunotherapy company engaged in blood purification to control deadly inflammation in critically-ill and cardiac surgery patients. With Bloch as the company’s CFO, shares of Cytosorbents’ stock started trading on NASDAQ in December 2014. The company has benefitted from the NOL Program. More information about CytoSorbents, and the support it received from the EDA, can be found at www.njeda.com/cytosorbentsfeature.
Celator Pharmaceuticals went public via a Form 10 and started trading in September 2013. The company’s Phase III clinical trial with its drug combination product called VYXEOS™ produced an overall survival benefit compared to the current standard of care in high-risk acute myeloid leukemia AML patients. This caught the attention of pharmaceutical companies, in particular Jazz Pharmaceuticals, which acquired Celator in 2016 for approximately $1.5 billion. Celator has also taken advantage of the NOL Program. Additional information about Celator and how it benefited from EDA support can be found at www.njeda.com/celatorfeature.
The funding panel event also presents an opportunity for companies to visit CCIT, a 46,000-square-foot life sciences incubator that is home to nearly two dozen businesses. With 27 wet labs and access to offices, conference rooms, a supportive staff and a variety of additional resources, CCIT is ideal for emerging companies looking to grow in the Garden State. CCIT is located within the Technology Centre of New Jersey, a 75-acre research park that houses such companies as Chromocell and Orthobond, both of which are CCIT graduates, and Merial. Companies interested in touring CCIT should visit www.njeda.com/CCIT or contact Harcum at firstname.lastname@example.org.
For more information about resources available to support New Jersey’s technology industry, visit www.njeda.com/tls and follow @NJEDATech on Twitter and LinkedIn.