Main attraction for retailers by ProQuest


More Info
									                                                                                                                                                                                                      Seeking insight

                                                                                                                                                                                    Christina Mazza
                                                                                                                                                                                                      from sidelined
                                                                                                                                                                                                      pharma execs
                                                                                                                                                                                                      Startup biotechs look to gather
                                                                                                                                                                                                      momentum by tapping expertise
                                                                                                                                                                                                      of top talent in search of work
                                                                                                                                                                                                                BY João-PIERRE S. RuTH
                                                                                                                                                                                                      GroWING A coMpANy from the halls of the
                                                                                                                                                                                                      state’s incubators can require some outside
                                                                                                                                                                                                      help. To that end, two dozen biotechnology and
                                                                                                                                                                                                      life science startups gathered last week to meet
                                                                                                                                                                                                      displaced pharma executives, in a bid to help
                                                                                                                                                                                                      them advance their plans to the next stage.
                                                                                                                                                                                                             And given uncertainty over the funding
                                                                                                                                                                                                      future of key state programs, out-of-work execu-
                                                                                                                                                                                                      tives may be the best resource available to these
                                                                                                                                                                                                      startups — at least, as long as the recession keeps
                                                                                                                                                                                                      these experienced professionals sidetracked.
                                                                                                                                                                                                             The event brought out companies from
                                                                                                                                                                                                      across the state, including a transplant in prog-
                                                                                                                                                                                                      ress: three-year-old Gallimed Sciences Inc.,
                                                                                                                                                                                                      which is relocating from penn State University.
                                                                                                                                                                                                      Founder Guy Barbato, a long Beach Town-
Highland Park is one town that’s benefited from the Main Street program. Standing on Raritan Avenue in the town’s downtown are, from left, local Main Street board members Walter                     ship resident, said he is moving Gallimed to
‘Skip’ Rogers, treasurer; Jenny Chapman, member and owner of the Through the Moongate store; Walter Deutsch, president; and Paul Lanaris, vice president.                                             bring his operations closer to home and to tap

Main attraction for retailers
                                                                                                                                                                                                      the talent pool in New Jersey.
                                                                                                                                                                                                             “We met two people who are potentials
                                                                                                                                                                                                      to help us out with the regulatory process,” he
                                                                                                                                                                                                      said. Gallimed will also look to add technical
                                                                                                                                                                                                      staff in September. The company is developing
                                                                                                                                                                                                      a potential pest control method using a Merck
Legislature considering $3M boost in funding for downtown program                                                          of towns will be tied to the availability of finan-                        & Co. Inc. drug that it’s repurposing.
                                                                                                                           cial resources.                                                                   currently, Gallimed has two other active
        BY AnDREW KITCHEnMAn                                 Affairs commissioner Lori Grifa and New Jer-                        Walter Deutsch, chairman of Main                                     staffers, in addition to Barbato, who said he
MAIN STreeT NeW Jersey, a state program                      sey economic development Authority ceo                        Street Highland park, said he was encouraged                               wants to build the company to a six- to 10-person
designed to revitalize small downtowns and                   Caren S. Franzini offered support for the pro-                by the christie administration’s support for                               operation in the short term. He also is exploring
city neighborhoods, may receive $3 million in                gram at a recent workshop of the state-run                    the program.                                                               a potential affiliation with a South Jersey univer-
new funding, along with a vote of confidence                 New Jersey downtown revitalization & Man-                           “There are more towns that can benefit                               sity, but declined to disclose the name.
from the Chris Christie administration.                      agement Institute.                                            from this program,” said deutsch, who com-                                        A former professor of genetics at penn
      Municipalities that join Main Street get                    Grifa said she is a “true believer” in down-             pared the program in Highland park over the                                State, Barbato said he retired from the univer-
free economic development advice from                        towns and the Main Street program.                            past seven years to a child growing up.                                    sity in 2008, and began relocating the company
Trenton. In return, municipalities must com-                      “It is one of the state’s most efficient pro-                  “We’re a little more mature, but we’re not                           the following year. “penn State is a great place,
mit their own cash and energy to the task of 
To top