Issue: 8

Nov 2017




EDA Invests in New Jersey Technology Companies








* Numbers reflect activity from inception through October 12, 2017





EDA's Investments Support New Jersey Business Growth










Latest News








The stakes have been raised for competitors in the New Jersey Economic Development Authority's (EDA) New Jersey Founders and Funders All-Stars event on December 6, 2017. For the first time, past NJ Founders and Funders participants are being offered the opportunity to reconnect with and update investors on their progress, while competing for an award of up to $50,000 approved today by the EDA's Board for one selected, registered presenting life sciences or technology company.

The New Jersey Founders and Funders program was launched in June 2014 to directly connect entrepreneurs with multiple investors in a speed-dating environment. New Jersey Founders and Funders enables early-stage New Jersey businesses to meet with investors in 10-minute, one-on-one sessions to discuss strategy, business models, and funding opportunities. 












Continuing efforts to foster the growth of the State's burgeoning technology industry, the New Jersey Economic Development Authority (EDA) announced that 39 companies have been approved to share over $46 million through New Jersey's Technology Business Tax Certificate Transfer (NOL) Program. Administered by EDA and the New Jersey Department of Treasury's Division of Taxation, this competitive program enables qualified, unprofitable technology and biotechnology companies to sell net operating losses and/or research and development tax credits to raise cash to finance their growth and operations.












The Board of the New Jersey Economic Development Authority (EDA) approved the first investment under the NJ CoVest Fund for Somerset-based Reflik, Inc. Launched in August, the NJ CoVest Fund is designed to fill the funding gap that occurs between product development and commercial expansion. Founded in 2014, Reflik crowdsources talent, utilizing its extensive network of recruiters and industry professionals to create efficiency for human resource professionals looking to find top candidates in less time. To date, Reflik has built a growing, nationwide community of more than 13,000 individual recruiters and staffing agencies, and cites growth for the first half of 2017 at a rate of 1,200 recruiters added per month. To support continued growth, the company is focused on expanding its marketing and business development efforts.












As part of its commitment to developing the next generation of technology and life sciences leaders, the New Jersey Economic Development Authority's (EDA) Technology and Life Sciences (TLS) team offered two college interns the opportunity to experience New Jersey's vibrant innovation economy firsthand this summer. The interns benefited from working at the EDA's Commercialization Center for Innovative Technologies (CCIT) in North Brunswick, a nationally respected incubation facility dedicated to life sciences and biotechnology companies.

EDA summer internships offer college students multi-faceted, real-world learning opportunities designed to prepare them for a fast-paced work environment.










Incubator Spotlight








CCIT is one of the more significant incubation facilities in the nation dedicated to life sciences and biotechnology companies - a 46,000 sq. ft. biotech incubator in a 50-acre research park in North Brunswick in the heart of New Jersey's "Research Corridor." In this section we feature news on CCIT and its tenant companies. For more information on CCIT, please visit










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. 












Visikol Founder and CEO Dr. Michael Johnson was invited as a key note speaker to speak at the World Youth Forum in Sharma el Sheikh, Egypt. The conference was focused on giving voice to the youth of Egypt and highlighted inspiring experiences from youth around the world. Dr. Johnson was invited to discuss Visikol's journey from an idea to a company that is helping accelerate drug discovery and get therapeutics to patients more quickly












CCIT's own PDS has entered a clinical trial collaboration agreement with a subsidiary of Merck to evaluate the combination of PDS's lead immunotherapy, PDS0101, with Merck's anti-PD-1 therapy in a Phase II clinical trial. The planned clinical trial will evaluate the safety and efficacy of the combination in patients with recurrent or metastatic head and neck cancer and high-risk human papillomavirus-16 (HPV16) infection after failure with platinum-based chemotherapy.











Upcoming Event at the Biotechnology Development Center






The following is a list of upcoming technology and life sciences focused events being hosted by the NJEDA at the Biotechnology Development Center, 685 US Highway One, North Brunswick, NJ . For more information or to RSVP, please click the event link below.






NJ Founders & Funders All-Stars (General Session)


Panel Discussion on Fundraising and $50,000 Pitch Competition for Returning Companies


1:45 - 4:30 p.m.





Event Calendar