EXPLORING THE TECHNOLOGIES THAT CHANGE THE WAY WE LIVE

New Jersey Technology Council www.njtc.org September 2014 Vol. 13 Issue 3 $3.50

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Meet Rick Weiss President, Founder and Chief Wellness Engineer of Viocare

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Rowan University Partners on R&D Initiatives with and for New Jersey Businesses The New Jersey Technology Council and Education Foundation 1001 Briggs Road, Suite 280 Mt. Laurel, N.J. 08054

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Learn How to Effectively Market to Bio Technology Companies

contents PRESIDENT’S MESSAGE

On the Cover

It is a time for new beginnings here at the New Jersey Technology Council. It is with great pleasure that I look forward to working with my successor James Barrood who joined the Council on August 11th. Jim is the former executive director of the Rothman Institute of Entrepreneurship at FDU. Please join me in making him feel at home. He is looking forward to meeting all our members as he leads us into NJTC 2.0. n

Plugged In

—Maxine Ballen, Founder, NJTC

First and foremost, I am honored to succeed Maxine and look forward to building on the remarkable foundation she has established over the past 18 years. Over the next few months, I hope to meet with as many of our members and community leaders as possible. I need to hear what you need from the Council and want to discuss how we can work together in new ways. So come out and meet me at our upcoming events. NJTC’s Leadership Summit on October 7th will focus on the personal side of leading a company. CEOs will join us to discuss the issues that keep them awake at night; developing leadership skills, managing staff, hiring, communicating with customers and more. And, during lunch, we will celebrate our 2014 class of CEOs of the Year. Next, on November 20th, we’ll hold our Annual Awards Celebration. We are so excited about this year’s distinguished and impressive list of winners. The NJTC Awards Celebration has long been identified as the region’s premier networking event for the technology community. So mark your calendars now and get ready to celebrate another year of success! I look forward to seeing you soon and working together to make our technology, entrepreneurship and innovation ecosystems throughout this great state even stronger. n

—James C. Barrood, President and CEO, NJTC

TechLifeSciNews

PUBLISHER James Barrood • [email protected]

September 2014 • Vol. 13 No.3 New Jersey Technology Council & The Education Foundation 1001 Briggs Road, Suite 280 Mount Laurel, N.J. 08054 phone (856) 787-9700 fax (856) 787-9800 www.njtc.org

VP OF PUBLICATIONS Leo M. Mennitt • [email protected] CONTRIBUTING EDITOR Carly Bohach • [email protected] NJTC CONNECTIONS EDITOR Judy Storck • [email protected] GRAPHIC DESIGNER Bonnie Jacobs • [email protected]

LifeSciTrends is published by the New Jersey Technology Council and The Education Foundation. We are located at 1001 Briggs Road, Suite 280, Mt Laurel, N.J. 08054. ©2014 NJTC All rights reserved. Reproduction or use, without permission, of editorial or graphic contents in any manner is prohibited. To obtain permission, contact the contributing editor Leo Mennitt at [email protected] Advertising information: Ellen Stein at 856-787-9700 x 228 Subscription information: www.njtc.org Postmaster: Send address changes to: NJTC, 1001 Briggs Road, Suite 280, Mt. Laurel, N.J. 08054.

12 EDUCATION Rowan University Partners on R&D Initiatives with and for New Jersey Businesses. By Patricia Quigley Engineering, medical and science professors and students at Rowan University continue to partner on R&D initiatives with and for small New Jersey businesses, Find out what new partnerships and initiatives are on the horizon.

ADVERTISING Ellen Stein • [email protected]

6 Stevens Receives Funding to Study Coastal Adaption Impacts on Jamaica Bay’s Water Quality 8 PDI Introduces PD One to Fill the Life Science Promotion Gap 10 Next-Generation Proton Therapy Tool Boosts Accuracy, Further Minimizing Radiation Exposure to Healthy Tissue

Features 14 Effective Marketing to Bio Technology Companies By Joseph T. Roman There are many potential potholes and complexities to consider when getting a product or service to market. In this article, learn how to effectively market to your target clients. 16 Top Risk Factors for Life Sciences Companies By Ryan Starkes Explore BDO’s analysis of the business challenges and top risks facing life sciences companies.

Columns 4 CORNER OFFICE Rick Weiss the President, Founder & Chief Wellness Engineer of Viocare  By Carly Bohach 18 DOLLARS AND CENTS Pharmaceutical companies continue to plan corporate inversions despite government protests By Susan San Filippo

NJTC Connections 20 NEW MEMBERS 21 PHOTO GALLERY 22 CALENDAR OF PROGRAMS

CONNECT@NJTC NJTC TechWire www.njtc.org NJTC on NJTC Group on

TechLifeSciNews | www.njtc.org | September 2014

@NJTC NJTC

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Rick Weiss President, Founder & Chief Wellness Engineer of Viocare 

BY CARLY BOHACH

How did you become CEO? I started my career as a digital communications applied researcher at Bell Labs during the AT&T monopoly period, great job and place to work but nothing I worked on became a product which was frustrating. I moved on to work at Squibb in the Princeton area and later at Digital Equipment Corporation where I decided that maybe starting my own company was want I really wanted. I wanted a company to create a special environment, culture and passion for a technologybased product. Since I had never worked at a small company, I wanted to get exposure to what it takes to run a small company so I joined Health Information Technologies (HIT), a VC backed company in the Princeton area that developed electronic claims processing systems. We had a great product but we lost our VC funding and the company shut down. At that time, I started thinking more about how to start Viocare and what product we’d build. I was introduced to the Small Business Innovation Research (SBIR) federal grant program by Katherine

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O’Neill. At this time, I became a competitive cyclist and start applying nutritional changes to my own diet for my cycling, which resulted in significant improvements in my performance. This was my inspiration to consider converting nutritional information into tools to help athletes and individuals with metabolic conditions. I wanted a business that would help individuals eat better to prevent disease. I submitted my first of 24 NIH grants the day after HIT closed down which we won and created our first product ProNutra that supports most of the dietary feeding studies in this country. So I started out as CEO when I created the company in my garage and have remained the CEO since then.

What qualities do you feel you need to have in order to be a successful leader in the Life Sci industry? The life sci industry is very complex and to be a successful leader one has to have a handle a large number of diverse efforts, more than many other industries. For

TechLifeSciNews | www.njtc.org | September 2014

CORNER OFFICE

us this means knowing the current technology options, following regulations, understanding healthcare’s clinical care model and the reimbursement model, where to obtain capital, identify great talent, and maybe most importantly have the vision towards where to lead the company while healthcare is changing and rally the team behind that vision. The other unique component to success in the life sci industry is having patience. It might take a long time to demonstrate efficacy in many products or services offered within healthcare, patience and persistence really helps.

What do you want people to know about Viocare? Viocare is an industry leader in providing dietary assessment and behavioral modification technology that is easy to use, scientifically validated, creates value for our customers and drives their end users to adopt healthy dietary behavior. We are very creative, innovative, customer driven, and passionate about what we do. Our customers are the leading clinical and research institutions in the world and once they become a customer, they stay with us. We are recognized as a world leader in dietary assessment technology.

Talk about the importance of nutrition and physical activity in what VioCare does?

Talk about the online community programs you provide? We started working on an online community wellness portal as a result of the Princeton Health Department’s program Lighten Up Princeton. We obtained a NIH grant that funded our Princeton Living Well system. The concept was to create a centralized online resource to engage residents to eat better and be more physically active. It aggregated community events/resources and provided one stop viewing of all things healthy in the metro community area. It also created a unique rewards program that gave members points for doing things healthy online and for participating in events within the community (at the Princeton Hospital and Whole Foods for instance) and provided rewards from local merchants. We had 72 local retailers participating at one point. Working with University of Kentucky and The Ohio State University we developed a custom version of this program for the Appalachia Community Cancer Network called Faithfully Living Well. This program is being operated in 20 communities within the 5 Appalachia states and impacting the health of those residents participating. We just started another partnership with a group of researchers in the Delta region of Mississippi.

What inspires you?

Our goal is to help prevent or help those with chronic diseases like hypertension, congestive heart failure, diabetes, kidney failure, and GI diseases where lifestyle such as diet and physical activity are critical. Although physicians have repeatedly reported that their patients would benefit from nutrition counseling; lack of time, inadequate reimbursement, and insufficient formal training in nutrition and behavior change counseling remain key barriers. We are addressing this by developing technology to improve dietary assessment and to making it cost-effective and feasible to include “tailored” behavior feedback based on comprehensive dietary assessment as a component of clinical interventions.

Talking to our customers and hearing their stories of how our technology has helped them and their clients. It’s great to hear about patients who no longer need their diabetes medications or have lost significant weight or seeing published papers from a major study using our dietary assessment that has significant implications on the way we practice healthcare. It’s also great to hear how we help some of our clients to now be able cost-effective dietary based interventions as a result of integrating our technology within their systems.

How do you continue to be innovative?

Networking is our key marketing effort. We recognized several years ago when we present at conferences related to our field we connect with others looking for solutions related to our products. We also have become active members within associations and nonprofits like the American Heart Association or Dr. David Katz’s Turn the Tide organization that are focused on improving health. The people we meet through these conferences and meetings get to know us and become our best sales people.

Our source for our innovation methodology came from my 5 years as an applied researcher at Bell Labs in the early 80’s, the best innovator in the world. In starting Viocare, a key focus of the company was creating a company culture that values innovation and includes listening to our customer needs, experimenting with big idea concepts, and obtaining NIH SBIR grants to fund a majority of our research efforts. We’ve been awarded 24 NIH awards worth almost $11 million so far. Our customers, Mayo Clinic, Harvard, NIH, USDA, and Ohio State are a who’s who in diet research and provide us with some of our best ideas and research partnerships. We listen to their biggest problems for either assessing a subject in a research study or providing technology to support the newest behavioral modification protocols.

Discuss mobile technology and its importance in the Life Sci field? The best way to answer this is to describe one of our major NIH grants to develop a food tracker that greatly reduces the burden for individuals to track what they eat. This grant was part of the NIH Genes, Environment, and Health Initiative or GEI. The point of the GEI program which funded numerous efforts was to move the science forward on collecting environmental data of individuals allowing a better understanding between the relationship between someone’s environment, their genes, and resulting health. Mobile technology allows for better health research and better patient support to collect the data necessary to make the best healthcare decisions.

How important is networking and what do you do to network?

Think ahead. Where do you see Viocare in the next five years? Where most of our clients are focused on research today and our clinical organizations are part of academic environments (the early innovators) I see our products in the next five years becoming a standard of care for dietary lifestyle management for mainstream healthcare providers to help their patients. We will have more research studies using our tools. We will see one of our partners, the UCSF Health eHeart study, have 1 million participants using our dietary assessment on a yearly basis and becoming a key source for analyzing dietary behavior and its relationship to heart disease (an online modern version of the Framingham study). We will continue to innovate and work with the world’s best researchers to extend our product offerings. Our products will provide more extensive feedback on specific diseases such as hypertension and diabetes and be used in other countries as well. Our customers will span researchers, clinicians, health plans, corporate wellness, and the food industry such as supermarkets. We currently are working on a version of our dietary assessment for Nestle for their use in Switzerland. n

TechLifeSciNews | www.njtc.org | September 2014

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P L UGGED I N

LEGAL

Q

Does paid time off count for overtime calculation purposes?

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NO, gratuitous paid time off, such as vacation time, sick time, holidays, even a paid lunch break, does not count as “actual time worked” for overtime calculation purposes for non-exempt employees. The fact that an employee is paid for the equivalent of 40 hours in a workweek, or even is on a schedule for 40 hours in a workweek, is not dispositive of whether someone is entitled to overtime or not. Overtime is based on the actual time worked during that workweek. New Jersey law requires employers to pay time and a half for all actual time worked over 40 hours in a workweek. It does not matter if one works on a weekend, during the night shift, or even for 24 hour shifts---the magic number is 40 hours in a 7 day workweek, and the magic words to be eligible for overtime are “actual time worked”. Thus for example, if an employer pays the equivalent of 40 hours which includes 1 hour each day for lunch, the reality is that the employee only actually worked 35 hours that week, and still have 5 more hours of actual time to be worked before being eligible for overtime. Likewise, if an employer pays for a full 8 hour a day workweek, but there was no work on one day because of a holiday, in reality, that employee only worked 32 hours, and the employer is entitled to 8 more hours of work before it is required to pay OT.

Jay S. Becker, Esq. is a shareholder at Giordano, Halleran & Ciesla and co-chair of the firm’s Labor and Employment Practice Area. He can be reached at jbecker@ghclaw. com or 732-741-3900.

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Stevens Receives Funding to Study Coastal Adaption Impacts on Jamaica Bay’s Water Quality For most people, Superstorm Sandy was a wake-up call that something needs to be done to adapt our urban coasts to the threat of coastal flooding, which is only expected to worsen due to sea level rise and climate change. A recent MarketWatch report said the value of homes vulnerable to coastal flooding in New York City metropolitan area alone was estimated to be $250 billion. However, making sure protective measures are done the right way is of dire importance, not only in mitigating storm surge, but also in ensuring water quality is not harmed in the process. Three Stevens Institute of Technology professors in Hoboken, NJ are working to ensure just that, as they are receiving $700,000 in funding to study the impact coastal manmade adaptations will have on the water quality in Jamaica Bay, NY. Professors Philip Orton, Alan Blumberg and Georgas Nickitas see this as a real need.“There’s already a lot of pollution in Jamaica Bay’s watershed,” said Orton. “Before these modifications are made to prevent flooding we need to know whether or not they’ll weaken Jamaica Bay’s natural flushing with nearby open ocean waters.” Adaptations to coastal flooding include projects such as storm surge barriers or the creation of wetlands or islands to reduce flooding and block waves. “Municipalities across the region are moving quickly to shore up their coastal defenses,” said Blumberg. “We are excited to be able to help quantify the efficacy of these defenses, as well as their effects on water quality, with our computer modeling.” The professors, along with partner Mr. James Fitzpatrick of HDR (formerly HydroQual), will conduct the two-year study using a computer model that simulates the physics and chemistry of the bay’s waters, within which they can manipulate the landscape to add barriers, wetlands, and other protective features. The project is among nine others supported by The Science and Resilience Institute at Jamaica Bay (SRI), a research consortium led by The City University of New York (CUNY), which was recently awarded $3.6 million from the Department of the Interior’s Hurricane Sandy Mitigation Funding. “The Institute’s mission is to increase understanding of how disturbances impact natural and human systems in urban water sheds through resiliency-focused research of Jamaica Bay, and to engage government and community stakeholders in the translation of that knowledge toward a more resilient system” said Gillian Small, CUNY Vice Chancellor for Research. “This new funding from The Department of the Interior will significantly advance that mission.” Stevens Institute of Technology, The Innovation University®, is a premier, private research university situated in Hoboken, N.J. overlooking the Manhattan skyline. Within the university’s three schools and one college, more than 6,100 undergraduate and graduate students collaborate with more than 350 faculty members in an interdisciplinary, student-centric, entrepreneurial environment to advance the frontiers of science and leverage technology to confront global challenges. Stevens is home to three national research centers of excellence, as well as joint research programs focused on critical industries such as healthcare, energy, finance, defense and STEM education and coastal sustainability. The university is consistently ranked among the nation’s elite for return on investment for students, career services programs, and mid-career salaries of alumni. Stevens is in the midst of implementing a 10-year strategic plan, The Future. Ours to Create., designed to further extend the Stevens legacy to create a forward-looking and far-reaching institution with global impact. The Science and Resilience Institute at Jamaica Bay (SRI) is a joint initiative among the National Park Service, the City of New York, and a consortium of nine top-tier research institutions. Led by City University of New York, the consortium includes Columbia University, Cornell University, the Institute of Marine and Coastal Sciences at Rutgers University, NASA Goddard Institute for Space Studies, New York Sea Grant, Stevens Institute of Technology, Stony Brook University (SUNY), and the Wildlife Conservation Society. The SRI will host visiting scientists, provide lab facilities for students and researchers, and convene events to share and disseminate their findings. It will not only coordinate and lead resilience research; it will contribute toward science-based policy to ensure the sound management of the Bay. Those policies will in turn serve as a model for cities around the world. n

TechLifeSciNews | www.njtc.org | September 2014

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P LUGGED IN

PDI, Inc. Introduces PD One™ to Fill the Life Science Promotion Gap Big Pharma has arguably experienced more disruptive change than any other industry in recent years. Not only has an unprecedented consolidation of companies taken place, but the number of new products approved each year has also not come close to the pace at which products are losing patent protection. In 2012 alone, prescription drug sales dropped by $714 billion, with an additional $230 billion at risk by 2018. And today, the Affordable Care and Sunshine Acts are just beginning to impact the industry in ways we have yet to fully understand. These trends are accelerating the industry’s contraction across all functions from R&D through commercialization. With fewer products and resources, life science companies have had to dramatically reduce the number of field-based sales representatives who support their brands. Pharma alone has reduced its sales forces, particularly in North America, by tens of thousands. Ever-resourceful, these companies’ sales organizations are managing through these constraints with an array of adaptations, including the use of temporary contract sales teams, tele-selling and increased in-house support, mobile technologies and the use of analytics to find ways to increase the efficiency and effectiveness of their remaining sales professionals. Meanwhile, the advent of new digital technologies and channels has enabled the marketing side of the business to engage with health care providers (HCPs) in novel ways amid equally constrained resources. Multichannel platforms, online tools and other integrated marketing approaches now occupy a significant place in the industry armament for extending brand reach. However, these new sales and marketing approaches are seldom executed in a coordinated manner, leaving a missed opportunity to synergize and reinforce the benefits of both personal sales and non-personal promotion. Going one step further, such e-marketing, e-detailing and emerging engagement channels should not only be integrated, but should educate and influence HCPs in ways that are personalized to individual interests and busy schedules.

The Solution Parsippany-based PDI, Inc., whose core business since 1988 has been providing pharma with contract sales professionals to supplement or substitute for traditional sales forces, recognized the digital sales and marketing integration opportunity. PDI acquired Group DCA, one of the pioneers in creating multi-channel marketing programs for the life science industry, and quickly began to develop ways to unite the arms of its businesses. With the launch of PD One™ earlier this year, PDI’s vision became reality, delivering a new online platform that bridges the gap between the personal in-office sales rep and non-personal promotion of digital

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marketing and engagement programs, with the ultimate goal of delivering sales and marketing efficiency. PD One provides the platform for industry to connect with customers on a personal level by sharing tailored, compliant content within a secure, yet accessible network. In essence, this extends the office visit and helps to further build the relationship between the rep, the provider and the brand.

Because interactions take place in a closed network, the ability to capture comprehensive data can provide better insights about the effectiveness of new or ongoing initiatives. Subscribers can see which messages work and those that don’t; what pages HCPs view and how long they spend on them; how often viewers go back to review materials; and what the optimal campaign cadence is. The next in-person visit can hone on the specific areas of interest demonstrated by the customer to fully close the loop. Further, all of these measures may be tied back to elicit what has the greatest impact on business outcomes. The cost of direct sales is by far the single largest marketing cost that sales and marketing, and some estimates have it as high as all other channels combined. While PD One was developed to increase the effectiveness of this budget, companies will likely leverage the additional

TechLifeSciNews | www.njtc.org | September 2014

reach and flexibility that comes with the platform based on their organization’s unique needs. Some might increase the frequency by which they reach customers while others reduce the number of in-person calls but increase the number of HCPs assigned to each rep. Regardless of the implementation model, the platform holds the promise to delivery concierge-level service for many customers. At the time of this writing PD One’s rollout is still early, but preliminary data shows the expected increase in marketing effectiveness. The percentage of emails opened upon receipt through the portal is significantly higher than typical e-marketing pieces, and recipients are more likely to revisit the shared materials. This makes sense, as the presumption is that information was sent by someone the HPCs know and trust. The content is also personalized, based on a specific conversation, request, or targeted to interests demonstrated through online behaviors.

HCP Access through MedicalBag.com As healthcare providers increasingly turn to technology for more information, industry is working to help them leverage this shift and the use of mobile solutions to find what they need. PDI created a website called The Medical Bag as the interface for HCPs that provides the conduit to PD One and increased communication with pharma and other manufacturers. Accessed at MedicalBag.com, it is an engagement environment in its own right. The Medical Bag was designed to attract and serve the broad interests of HCPs as single destination with a mix of clinical information, practice support and entertainment. Its features include medical news, focus pages for clinical specialties, continuing medical education (CME) courses and detailed drug information and sample ordering, in addition to the direct connections with their sales reps. And, the information provided to HCPs through The Medical Bag offers targeted, timely and intellectual content and information when they want to access it. Features include new blogs from well known medical personalities and edgy content such as a regular “What Killed ‘Em” column. Quick polls provide a snapshot of peer opinions, while practice management pieces offer practical advice for the entrepreneurially-minded. PDI’s plans include the ongoing addition of functionality to MedicalBag.com in order to grow its regular following of roughly 60,000 monthly visitors and to provide increasing value for the more than 400,000 HCPs contained in its network.As PD One adds clients, providers can conveniently connect with their industry contacts from multiple manufacturers in one online location rather than through individual company site. Think of it as a cloud-based Rolodex of industry representatives. PD One brought together the region’s best tech marketing minds with industry veterans possessing an acute understanding of profound changes taking place in pharma and the greater healthcare environment. It aligns the sales management, marketing leadership and the legal and compliance teams to truly make a positive change in combining personal and digital engagement for a more efficient relationship with customers. n

TechLifeSciNews | www.njtc.org | September 2014

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P LUGGED IN

Next-Generation Proton Therapy Tool Boosts Accuracy, Further Minimizing Radiation Exposure to Healthy Tissue Proton beam therapy has taken a major technological leap forward with the introduction of pencil beam scanning at the ProCure Proton Therapy Center in Somerset, NJ, the only proton facility in the New York – New Jersey – Connecticut tri-state region. Doctors can now use an ultra narrow proton beam to deposit dose even more precisely within a cancer, thereby minimizing the dose to surrounding normal tissues to reduce the risk of side effects. “With the increased accuracy of pencil beam scanning, we can now use proton therapy to treat some of the most challenging tumors, helping to ensure that more patients will have access to a precise radiation treatment with reduced risk of side-effects,” said Dr. Oren Cahlon, Medical Director of the ProCure Proton Therapy Center and a partner of Princeton Radiation Oncology. Unlike conventional radiation treatments in which the beam penetrates all the way through the target tumor into the normal tissues behind the cancer, proton beams deliver their dose to the tumor without any dose reaching the deeper tissues. Pencil beam scanning couples this unique property of the proton beam with an electronically guided scanning system that delicately and precisely moves a beam of pencil point sharpness back and forth across each layer of the tumor’s thickness to paint the tumor with radiation in three dimensions while eliminating dose to the normal tissues on the other side of the cancer. This ultra precision makes pencil beam scanning an ideal treatment for irregularly shaped tumors that are located next to critical tissues and organs, such as tumors of the prostate, brain or eye. Proton therapy is clinically proven to be beneficial in treating a broad range of tumor types including prostate, head and neck, brain, central nervous system, lung, sarcomas, gastrointestinal and many pediatric cancers. Because of its unique precision compared to standard radiation treatment, proton therapy minimizes the risk of radiation exposure to surrounding healthy tissue. The addition of pencil beam scanning enables physicians to configure the proton beam’s range and dosage to an even more precise three-dimensional target area, further limiting side-effects patients may experience. “Pencil beam scanning is one of the most highly developed tools available to radiation oncologists today, and we are very pleased to offer our patients this new dimension of precision and flexibility in planning radiation treatments,” said Dr. Cahlon. “With the increased accuracy of pencil beam scanning, we can now use proton therapy to treat some of the most challenging tumors, helping to ensure that more patients will have access to a precise radiation treatment with reduced risk of side-effects.” Michael Cutilo, two-time cancer survivor and one of the first prostate cancer patients to be treated with pencil beam scanning for a recurrence after undergoing a prostatecomy, states, “Anytime you can treat someone with cancer through a minimally invasive technology such as

proton therapy, it’s a step in the right direction. I’ve received proton therapy for the last month – my treatment duration has been short, and I’m feeling little to no side-effects.” While traditional proton therapy achieves treatment precision through the use of custom-made compensators and apertures designed to shape and limit penetration of the beam, these devices must be designed for each patient and changed throughout the course of therapy as tumors change shape or position. Doing away with these components through the use of pencil beam scanning technology will reduce the time it takes to deliver proton therapy to patients. “Embracing advanced technology at our Center is an important element as we look for ways to provide patients with the most effective and efficient treatments,” said Dr. Cahlon. “It is our mission at ProCure to improve the lives of patients with cancer by expanding access to proton therapy to optimize both the chance of cure and the quality of life for our patients.” ProCure Proton Therapy Center in Somerset, NJ center opened in March 20, 2012, and its medical team has treated nearly 600 patients to date.

About Proton Therapy Proton therapy is a unique form of precision radiation that directly attacks tumors while minimizing potentially damaging radiation to surrounding healthy tissues and organs. As with standard radiation therapy (which uses photons or X-rays), proton therapy kills cancer cells by preventing them from dividing and growing. The difference between protons and conventional radiation is that protons deposit most of their energy (radiation) directly into the tumor with less dose delivered to adjacent normal tissues, allowing patients to receive higher, more effective doses while simultaneously reducing damage to healthy tissue near the tumor.

About ProCure Treatment Centers, Inc. ProCure Treatment Centers, Inc. is a privately held health care company dedicated to improving the lives of patients with cancer by increasing access to proton therapy. The company was founded in 2005 in Bloomington, Ind. and is the first to develop a network of proton therapy centers in cities across the United States. The ProCure Proton Therapy Center in Oklahoma City opened in July 2009, ProCure Proton Therapy Center in Somerset, N.J. opened in March 2012, and the Seattle Cancer Care Alliance Proton Therapy, A ProCure Center, opened in Seattle, WA in March 2013. In 2013, Best in Biz Awards named ProCure Treatment Centers, Inc. a Bronze winner in the Most Customer Friendly Company of the Year category for demonstrating superior customer satisfaction and customer support success rates. n

For more information, visit www.procure.com.

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TechLifeSciNews | www.njtc.org | September 2014

November 20, 2014

Renaissance Woodbridge Hotel

The NJTC recognizes and celebrates technology companies in the region for their business accomplishments in technological collaboration, partnership and innovation. The Awards Celebration begins with a cocktail reception followed by an awards ceremony and dinner. The Celebration is a unique opportunity to meet colleagues, clients and prospective clients in a social setting that links your company to the success of the technology and life science industries.

NJTC 2.0 Ready. Set. Go! Awards will be presented in the following categories: SUPER AWARDS Master Technology Company Public Company • Private Company SUSPENSE AWARDS Innovative Technology Company • Impact Company INDUSTRY AWARDS Trailblazer • Rising Star Outstanding Technology Development Consumer Product • Beacon of Light INDIVIDUAL AWARDS Legislative Champion Award Knowledge is Power Award John H. Martinson Technology Supporter Award Legend of Technology Award Thank you to the 2014 NJTC Awards Celebration Sponsors (as of print date)

Universal Display | BDO | Comcast Business | DLA Piper | Ernst &Young | Edison Partners | GHO Ventures iCIMS | Juniper Networks | KPMG | Maloy Risk Services | Morgan Lewis | NJIT | NPS Pharma | PwC | Robert Half Technology | SorinRand | Systech | TechXtend | Telx SPACE IS LIMITED Register to attend today! Visit www.njtc.org for details.

E DUCATION

Rowan University Partners on R&D Initiatives BY PATRICIA QUIGLEY

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ngineering, medical and science professors and students at Rowan University have partnered for years on R&D initiatives with and for small New Jersey businesses, Fortune 500 firms and government organizations critical to the well being of the United States..

Jersey and beyond to uncover solutions to crucial health care needs, whether a cure for prostate cancer or a means to halt tissue damage caused by a heart attack or stroke. In addition to medicine, professors and students conduct experiments on a broad range of topics, from alternative fuels to asphalt mixes, from robotics to sustainability, from seatbelts to nanotechnology.

Across Five Locations in Four Communities On the Glassboro and Camden campuses, at the Rowan University School of Osteopathic Medicine in Stratford and Cooper Medical School of Rowan University in Camden, and at the South Jersey Technology Park in Mantua Township, the teams have served as de facto R&D arms tackling technology issues, working for solutions to engineering problems from the environmental to the medical, and addressing health concerns from the seemingly mundane (poison ivy) to the life altering and life threatening (autism as well as cancer and Alzheimer’s disease among them). With a nationally recognized College of Engineering, outstanding physical and computer science programs in the College of Science and Mathematics and two medical schools, Rowan University is at the cutting edge of research and development in numerous disciplines, with a focus on determining solutions to real-world problems for business, government and health care organizations. Much of the teams’ work is funded by outside organizations, such as the National Science Foundation, National Institutes of Health, U.S. Navy and national and international corporations. Teams work daily in labs onsite and offsite with partners in New

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Making a Difference Research is not just for research’s sake at Rowan. While there are professors and students who focus on the theoretical, the majority of research initiatives are dedicated to solving real-world problems. Rowan is committed finding solutions and to bringing products to market that address. Said Dr. Shreekanth Mandayam, executive director of the South Jersey Technology Park, “As the newest state-designated comprehensive research institution in New Jersey, Rowan recognizes its responsibility to expanding research across many disciplines that will positively impact New Jersey’s citizens and those beyond our State. We have exceptional faculty leading teams on studies that will make a difference in our health, our environment and our technology and in many more areas that impact our daily lives.”

Entrepreneurship Critical Research at Rowan also embraces a strong entrepreneurship focus, and both research and entrepreneurship are woven into the curricula, providing students in small classes with hands-on experience and

TechLifeSciNews | www.njtc.org | September 2014

with and for New Jersey Businesses opportunities that lead to internships and full-time positions upon graduation. In the College of Engineering, for instance, students work in interdisciplinary teams from freshman year through graduation on dozens of hallmark engineering clinic projects a semester. The benefits of research do not stop with Rowan students, who enjoy a unique integration of classroom and research work. Partners, such as those firms that sponsor College of Engineering clinics, are treated like clients, gaining professional-level work that they might not have the staff

To learn more about Research at Rowan visit www.rowan.edu/home/research For more information on Research at Rowan in general or how to partner with the University, contact: • Dr. Kenneth Blank, vice president for Health Sciences, at (856) 256-5851 or [email protected] • Dr. Shreekanth Mandayam, executive director of the South Jersey Technology Park, at (856) 256-5333 or [email protected]. Mandayam also can supply information about the expansion of the Technology Park.

to support on their own. Select projects have broader benefits: some research leads to patents and/or commercialization, and some projects spin off into start-up businesses and many have the potential to create jobs and improve the economy of the region. Partnerships also serve as a pipeline for employers in the region looking for exceptional talent.

The Future Today, outside organizations fund $25 million of research at Rowan. The institution is committed to quadrupling that in 10 years. As it does so, it anticipates other types of growth throughout the University, including the construction of new buildings for the College of Engineering and the Rohrer College of Business that will enable both colleges to virtually double enrollment in their highly competitive programs to 2,000 students each. Rowan also plans to expand the South Jersey Technology Park by adding several buildings in the next five years to support the region’s economic development. (The Technology Park, located on approximately 500 acres of land, is seeking letters of interest from potential development partners capable of helping to advance the next phase of its expansion. That will include approximately 270,000 square feet of combined research, development and office space with an anticipated delivery of winter 2015/spring 2016.) n

Patricia Quigley is the Assistant Director of Media & Public Relations at Rowan and can be reached at (856) 256-4241.

TechLifeSciNews | www.njtc.org | September 2014

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Effective Marketing to Bio Technology Companies BY JOSEPH T. ROMAN Think of any situation you encounter when the stakes are high and you want to get something done right the first time. What you do in this situation is hire a professional to do the job. Whether the job is a new kitchen in your home, medical emergencies or managing legal issues, your best bet is to hire a professional to get the job done right and quickly. The same philosophy holds true for when you need to get a product or service to market within the biotechnology marketplace however there are many more potential potholes and complexities to consider. You read all the time on the Internet that things like Google AdWords, Social Media and Search Engine Optimization are all that it is about when it comes to companies effectively being able to market to their target clients. Although these things are important, they are only a small part of what your overall marketing strategy needs to entail. At Accelerant Sales Group, we have clients every year that call us and say that they have spent tens of thousands of dollars on paid AdWords and web advertising with very little to sometimes no results at all. They think there is a magic bullet and that all of a sudden the marketing initiative will simply take off and they can get back to what they want to do which is providing great products and services. The biggest thing they are missing is trust, brand recognition and relationships with their clients.

Brand Recognition As mentioned above there are many advantages to having an outsourced team of professionals putting their blood, sweat and tears into the success of your product or service. When hiring the outsourced team, your brand now becomes part of the marketing machines results! Think of it as a shared think-tank of knowledgeable professionals that have no other goal but to acquire new clients for you and make them happy! The combination of web strategies, marketing, inside sales, research and field sales provided are unmatched by any other initiative when trying to market. At Accelerant we have a methodology called Accelerant Advantage ™ that systematizes the process all the way from initial phone calls, to web campaigns and trade events to account management and closed business. The process never stops! Utilizing PhD’s from NJIT as research partners, we have studied over 15,000 successful sales people and implemented the best practices and processes into the offering. What makes this all more compelling is that the cost of a team can range from 50-75 percent less expensive than trying to reinvent the wheel and build your own team. The clients you acquire will be used to seeing your brand in a way that is professionally persistent and delivered.

Relationships with your clients

Building Trust When a company hires a direct sales representative and then gives that person a very high sales quota a few things normally happen: That sales representative tries aggressively to meet their number by focusing on a small number of big deals over the first 6-12 months of being employed. When they realize that they do not have the luxury of a long time to cultivate trust and relationships with clients they soon become dissatisfied and then spend their time networking and looking for their next sales position. Looking at this from another vantage point, a company could in less time hire a professional sales outsourcing partner and have a team of people that are working for them in a results driven and focused manner. Whereas the full time salesperson would be short term focused, the outsourcing firm is results and trust focused with clients. Since the sales company has usually a very low turnover rate the customer would be able to see the salesperson as a knowledgeable and consultative resource as opposed to just another person who will work with them for a few months and then move on. How do we know this you might ask? It comes down to the philosophical meaning behind a person wanting to be an outsourced sales representative by trade and the fact that if they are not successful they will be out of business. Just imagine the differences in trust that are built and the loyalty that the model brings for the highly complex biotechnology market. We start with the end in mind and trust is at the very center of every thought and engagement. Studies of human behavior prove that when teams work together trust is the core component that allows the organization and partnership to thrive. When you trust someone you allow yourself to be vulnerable and open up to them.

The research we have done shows that the modern day biotechnology executive is not looking for friends of “yes men” when sales people call on them. Today’s modern biotechnology executives are looking for representatives to bring strong product and industry experience. Why is this so important? It’s important because technologies are changing yearly, monthly and daily. The demands of biotechnology companies to get more out of each worker with fewer budgets also holds true for every executive. Picture yourself as a CFO or CIO of a biotech firm and all of the conflicting priorities between the projects, budgets and different stakeholders. Your weeks would be consumed with travel and back to back internal meetings. With all of this busyness who has the time to learn about new technologies?!? This is where the outsourced sales and marketing partner shines. By having normally 100 years plus combined industry experience among the firm’s partners there is always a best practices approach to calling on each and every executive. Thorough research is done on each and every prospect from the firm’s database. A ready, aim and fire approach is taken and a very specific and meaningful relationship is formed with each executive. We call this development of a trusting relationship part of establishing “equal business stature.” Bringing an enormous amount of experience implementing and selling many biotech based services and solutions allows the sales rep to be seen as an advisor rather than a pest or fly by night person who will be gone in a few months. At our firm, we also make it a point to get to know each and every executive on a personal basis and this means their personal struggles, career goals and even the things they like to do with their families and volunteering efforts. Many of our partners are on boards of institutions, colleges, high schools and non for profits and at these places many strong relationships are formed. We like to consider ourselves advisors to the clients that we sell to and always take the high road because we value the relationships with our customers above anything else. n

Joseph T. Roman, President of Accelerant Sales Group and Adjunct Professor at New Jersey Institute of Technology, School of Management can be reached at 973-331-0212.

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TechLifeSciNews | www.njtc.org | September 2014

NJTC LEADERSHIP SUMMIT October 7, 2014

EisnerAmper Conference Center 111 Wood Ave South 10th Floor, Iselin, NJ

presents

Are You Ready to Open Up? The CEO’s role as leader, strategist and visionary is incredibly demanding. Regardless of company size, industry, country or culture CEOs confront the same Undeniable realities: a high degree of risk, intense loneliness, lack of feedback and difficulty letting go.

THE SUMMIT WILL FEATURE KEYNOTE SPEAKER

David B. Kinitsky

Senior Director at SecondMarket, Inc. and General Manager of the Bitcoin Investment Trust ROUNDTABLE DISCUSSIONS Seated at a table of your choice CEO PANEL DISCUSSION Comprised of the CEO of the Year Award Winners CEO OF THE YEAR AWARD CEREMONY Awards will be presented to the CEO of a public company, private company and not-for-profit or educational institution. Who can register to attend the Leadership Summit? Leaders at established technology and life science companies seeking opportunities to exchange ideas, expand their networks, build relationships, meet with peers and maintain an edge over their competition.

The NJTC Leadership Summit is designed to offer a forum for leaders to meet with their peers in a closed session to share insights that can help them reflect on their roles as CEOs and realize that they are not alone in what they experience. The Summit will include engaging and successful speakers, facilitated small group discussions with your peers and a CEO panel discussion comprised of the CEO of the Year Award winners. SAMPLE of the insights to be explored with your peers: • How do you grow and develop your leaders? What’s the worst employee situation you’ve experienced? • What are you currently struggling with the most whether personal or business related? • How do you align and communicate with your Board of Directors? • Developing lasting customer relationships, your corporate brand and reputation • And more . . .

SPONSORS (as of print date)

WeiserMazars | EisnerAmper | Comcast Business | DLA Piper Maloy Risk Services | Morgan Lewis | TD Bank | NJEDA | Caliper

For details and to register, visit www.njtc.org

Top Risk Factors for Life Sciences Companies BY RYAN STARKES The life sciences sector in New Jersey plays a significant role not only in boosting the state’s economy, but also in positioning New Jersey as a national leader, both in industry R&D as well as industry related export. As growth opportunities for the sector increase, however, companies in this space face unique industry risks that can impact operations. A recent BDO analysis explored such business challenges and revealed that top risks and concerns cited by life sciences companies across the country include supply chain management, navigating the complex regulatory environment, intellectual property protection, data security, product commercialization and intense competition.

Number One Risk for Life Sciences Companies: Supply Chain Vulnerabilities This year, all 100 companies analyzed cite supply chain vulnerabilities and concerns over suppliers/vendors as the top risk. While life sciences companies often rely on third parties to produce critical materials and help bring their products to market, it is important that these suppliers comply with strict regulations around product quality. Any compliance setback or supply chain disruption can expose companies to product liability issues and recalls. As a result, 95 percent of companies note significant risks related to product liability and insurance costs, while 88 percent cite product recall/complication concerns. Supply chain disruptions can result from a number of factors, including the shortage of necessary raw materials, natural disasters and regulatory inspections. As such, 42 percent of life sciences companies cite the price and availability of raw materials as a risk to their business, and 56 percent cite risks related to natural disasters, war, conflicts and terrorist attacks.

Intellectual Property Protection and Data Security Concerns on the Rise In today’s competitive environment, research and development is critical to long term growth; any infringement on intellectual property can be financially detrimental, providing competitors with an advantageous

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edge. With current uncertainties surrounding patent protection and a debate in the Senate concerning patent reform, life sciences executives are increasingly concerned about the risk of intellectual property (IP) infringement. Ninety-eight percent of companies cite the protection of intellectual property as a risk, and 91 percent cite concerns related to litigation and legal proceedings, often associating patent challenges with that risk. Data security issues have been top of mind for life sciences companies as well, especially in light of recent headlines surrounding data breaches at high profile brands such as Adobe, Apple, Facebook, Google, Target and Twitter, to name just a few. According to recent studies, the financial impact of cybercrime is expected to grow 10 percent per year through 2016, with the average cost to business already exceeding $5.4 million. As recent articles have indicated, the healthcare sector faces particular risks associated with data breaches as the industry continues to upgrade to electronic medical records and share information over health exchanges. Companies are now faced with strict requirements to report, maintain and protect various types of customer and patient data. This year, data security and privacy breaches were therefore among the top 25 cited risk factors, with 61 percent of companies (vs. 46% in 2013) viewing this category as a risk.

Opportunities for M&A Bring Increased Risk According to Mergermarket, pharmaceutical, medical and biotech players rank #1 for mergers and acquisitions (M&A) this year, with deal activity valued at $252.5 billion. While many small life sciences companies depend on strategic investments from larger healthcare entities to grow their businesses, related M&A risks are high. Sixty-nine percent of companies cite concerns related to successfully managing or completing a merger or acquisition, and 75 percent of companies cite risks of anti-takeover or change of control provisions that could hinder buyout opportunities (up nine percentage points from last year).

TechLifeSciNews | www.njtc.org | September 2014

continue to partner with suppliers and manufacturers to develop their products, all parties must comply with the proper use and disposal of hazardous materials, which can be costly, time sensitive and may interrupt normal business operations.

Regulatory Environment Continues to Create Obstacles for Companies

Nearly all companies (98 percent) cite federal, state and local regulations as a notable risk, with 77 percent listing the Affordable Care Act (ACA) as a concern. Healthcare reform has significantly impacted the life sciences industry, not only through the introduction Barriers to Product Commercialization of additional compliance regulations and penalties, but also through According to our findings, 97 percent of companies cite the ability resulting revenue uncertainty due to changes in reimbursement and to effectively commercialize and market approved products as a coverage. In addition, 85 percent of companies note the availability top concern, and 89 percent note risks related to collaborations, often depended upon to provide of product reimbursements by critical resources for product government authorities or other commercialization. In line with third-party payers as a risk to Top 25 Risk Factors for the 100 Largest last year’s findings, nearly all their businesses, especially as U.S. Life Sciences Companies companies (94 percent) point they contend with government to risks associated with FDA authorities and healthcare 2014 Rank 2014 2013 compliance requirements as well providers increasingly favoring 1. Supply Chain and Supplier/Vendor Concerns 100% 93% as with the FDA approval process. generic products to keep the cost 2. Federal, State and/or Local Regulations 98% 100% Remaining mindful of these of medicine affordable. 2t. Intellectual Property Infringement 98% 96% industry risks and working to 4. Competition and Consolidation 97% 100% This year, 76 percent of 4t. Ability to Commercialize & Market Products 97% 96% mitigate them should serve New companies noted risks associated 4t. Volatility of Revenue/Stock Price 97% 92% Jersey life sciences companies with changes to accounting 7. Product Liability and Insurance Costs 95% 87% well. As host to more than 350 standards and regulations, up from 8. Ability to Attract and Retain Key Personnel 94% 96% biotech companies and a leader 68 percent in 2013. Concerns 8t. FDA Approvals and Compliance 94% 94% in VC investments and industry over the new revenue recognition 10. Legal Proceedings 91% 84% patents, the region offers valuable rules, which were released by the 11. Collaborations and Relationships with Other Companies 89% 92% opportunities for job recruitment, 12. Product Complications, Recalls and Side Effects 88% 88% Financial Accounting Standards 13. Delays or Unfavorable Results from Clinical Trials 87% 80% joint ventures and research and Board and International 14. Reimbursement from Third Party Payers 85% 87% is poised for continued economic Accounting Standards Board in 14t. Inability to Acquire Capital 85% 79% growth. May, likely contributed to the 16. Changes to Healthcare Laws & Regulations 77% 78% The 2014 BDO Life Sciences increase, as implementation will be 17. Changes to Accounting Standards and Regulations 76% 68% RiskFactor Report examines the a key area of focus for life sciences 18. Anti-Takeover and Change-in-Control Provisions 75% 66% risk factors listed in the most companies in the years ahead. 19. Environmental, Health and Safety Laws 73% 66% recent annual shareholder filings Our Life Sciences RiskFactor 20. Threats to International Operations 71% 79% 21. Inability to Manage or Complete M&A 69% 79% of the 100 largest publicly-traded Report also reveals an increase in 22. General Economic Conditions 67% 84% U.S. life sciences companies listed concerns related to environmental, 22t. History of Operating Losses 67% 68% on the NASDAQ Biotechnology health and safety laws, with 73 24. Failure to Properly Execute Strategy 66% 69% Index by revenue. The risk factors percent of companies (up from 25. Breaches of Technology Security, Privacy and Theft 61% 46% were analyzed and ranked in order 66 percent in 2013), noting such *t indicates a tie in the risk factor ranking of frequency cited. n risks. As life sciences companies Ryan Starkes is the Woodbridge-based partner and Life Sciences practice leader at BDO USA, LLP.

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TechLifeSciNews | www.njtc.org | September 2014

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D OLLA RS & CE N TS

Pharmaceutical Companies Continue to Plan Corporate Inversions Despite Government Protests BY SUSAN SAN FILIPPO Recently, Treasury Secretary Jacob Lew sent a letter to key members of Congress calling for the nation to embrace a “new sense of economic patriotism” and stop supporting corporations that are moving their tax home out of the U.S. to reduce their corporate income tax burdens by taking advantage of an existing loophole in the tax code. The loophole, known as “corporate inversion,” is a transaction where a U.S. based multinational group acquires a foreign corporation located in a country whose tax rates are lower than in the U.S. These reorganizations have the effect of changing the U.S. Corporation’s domicile to a foreign country but typically results in little change to the U.S. operations of the entity. Although operations in the U.S. would continue to be subject to U.S. tax, the foreign operations conducted by the newly formed group would be subject to the lower foreign country tax rates. In addition, the foreign income is not taxed to the U.S. shareholders until dividends are paid. Moreover, the U.S. Corporation may engage in earnings stripping transactions where deductible payments to the parent company reduce U.S. taxable income. These transactions are particularly attractive to pharmaceutical and medical device companies who seem to have more choices of appropriately sized targets overseas and enjoy many benefits of a global presence. Popular destinations seem to be Britain, Ireland and Bermuda for their lower tax rates and other attractive R&D incentives. Transactions involving pharma and medical device companies have spiked in recent years, most notably the recent merger of Medtronic and Covidien, the attempted acquisition by Pfizer of AstraZeneca, and the AbbVie takeover of Shire, the largest inversion deal to date. Here’s a summary of how the proposed inversion of Pfizer might have worked:

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A newly created UK holding company would acquire the shares of both Pfizer and AstraZeneca. In the resulting structure, Pfizer and AstraZeneca would be subsidiaries of the UK parent and the former Pfizer shareholders would own 73 percent of the UK company and AstraZeneca former shareholders would own 27 percent. Pfizer hoped to shift profits to the UK, where the tax rate is around 21 percent as compared to 35 percent in the U.S. For similar types of inversion transactions like the one proposed in the Pfizer deal, the U.S. government has attempted to curb the use of these inversion transactions: • Where shareholders of the U.S. Corporation subsequently acquire over 50 percent of the new foreign parent corporation, section 367(a) causes a gain on the transfer of U.S. stock to the parent corp. • Where shareholders of the U.S. Corporation subsequently acquire 60 percent or more, but less than 80 percent of the new foreign parent corporation, section 7874 prevents the U.S. Corporation from using tax attributes, such as NOLs, to offset section the 367(a) inversion gain. • Where shareholders of the U.S. Corporation subsequently acquire 80% or more of the new foreign parent corporation, section 7874 treats the new foreign parent company as a U.S. corporation for tax purposes, effectively removing any real U.S. tax savings from the transaction. • In triangular reorganizations, section 367(b) and Notice 201432 causes a potential taxable dividend as a result of a “deemed” distribution between parent and subsidiary on the acquisition of the target foreign corporation in exchange for parent stock.

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TechLifeSciNews | www.njtc.org | September 2014

Under Pfizer’s proposed new structure, the corporation would not have been considered a U.S. corporation for tax purposes under section 7874 because less than 80% of the foreign parent company would be held by the former U.S. shareholders. The U.S. Corporation might have had to pay tax under the other anti-abuse regulations of section 7874 and section 367, however it planned to save over $1 billion in tax due to the tax rate differential alone, according to some reports. In other inversion transactions, some corporations were able to avoid the imposition of section 367(a) inversion gain by manipulating certain aspects of section 367(b)(“Killer B reorganization” rules), in order to make the transaction nearly tax free. Much tax planning goes into achieving these various tax savings from moving overseas and the transactions can get very complicated.

The letter from Secretary Lew calls for a lowering of the U.S. corporate income tax rate, among the highest in the world. At the very least, he asks Congress to pass laws to prevent or deter companies from using these inversion strategies, including retroactive laws to prevent tax savings on restructuring deals already agreed to, such as the recent Shire takeover. Despite bipartisan disagreement on how to address the tax loophole, tax reform in this area is likely to occur in some form. However, many tax practitioners and financial experts believe that these transactions will continue to be used at an increased pace until real reform occurs to lower U.S. corporate tax rates. In the meantime, patriotism aside, corporate management will maintain its allegiance to its shareholders and continue to strive to improve the corporate bottom line in the ever increasing global economy. n

Susan San Filippo is a senior manager for WithumSmith+Brown, PC.

College of Graduate & Continuing Education

Academic Programs & Professional Solutions

Rowan University offers the following options for technology professionals and organizations: • Graduate programs in Business, Computer Science, & Engineering • Professional development workshops & seminars • Business services including consulting, customized solutions, and event space rental in our State-ofthe-Art Enterprise Center

Programs feature highly credentialed faculty, competitive tuition and rates, and convenient evening or online courses. Specializations and focus areas help tailor your educational needs to meet organizational and individual goals.

www.RowanCGCE.com

TechLifeSciNews | www.njtc.org | September 2014

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NJTC NEW MEMBERS

As of July 2014

CXO



Winthrop Cody 8 Adams Drive Cranbury, NJ 08512 732-910-3265 [email protected] Founder and CEO of ExpertPlan; CIO of Copeland/ Citi Street, CitiGroups Retirement Corp.; Head of Retirement and Wealth Management Solution, iGate Tom Flaherty 151 Chesterfield-Georgetown Road Chesterfield, NJ 08515 609-610-8751 [email protected]

INFORMATION TECHNOLOGIES

Epic Software Development 101 Hudson Street, Suite 2100 Jersey City, NJ 07302 877-960-3742 www.EpicSoftwareDev.com John Matlosz - [email protected] Epic is known for providing its clients with the highest quality outsourced solutions for application software development.We are based in New Jersey, with development centers in Costa Rica and Eastern Europe. Our expertise is focused on web, mobile and enterprise applications. GSTi (Government Systems Technologies Inc.) 3159 Schrader Road Dover, NJ 07801 973-361-2627 www.gstiusa.com Jessica Eaton, HR Administration [email protected] GSTi provides strategic IT solutions. We cover a wide range of services, including: Database Administration, Data migration, IT Infrastructure Management.

TetherView 101 Ellis Street Staten Island, NY 10307 800-666-3996 www.tetherview.com James Scott, CFO - [email protected] Providers of Private Cloud Virtual Desktop Services to SMB Market in NY Metro Region.

SERVICE PROVIDERS

Princeton Partners, Inc. 205 Rockingham Row Princeton, NJ 08540-6618 609-452-8500 www.princetonpartners.com Tom Sullivan, CEO [email protected] Princeton Partners is an award-winning, omnichannel, brand marketing agency that focuses on the long-term business growth and success of our clients. Profit Tek LLC 12 Christopher Way, Suite 200 Eatontown, NJ 07724 www.profittek.com Based in Eatontown, New Jersey ProfitTek, LLC provides comprehensive guidance simplifying the goals of any organization into meaningful, targeted and measurable segments.We collaborate to engineer a dynamic diagnostic design allowing for customization on demand. Our proprietary process navigates your organization toward a self-sustaining strategy of overall market and financial health. If your organization desires a sustainable business model with increasing top and bottom lines, contact us to review your needs and our services and pricing. Reesa Woolf PO Box 499 Boonton, NJ 07005 973-335-7361 [email protected] ReesaWoolf, PhD, mentors technical professionals to be excellent speakers. Learn to hold listeners’ attention on updates, to easily address customers, management & the board, and get better jobs. #1 Amazon Bestseller Executive Speaking in a Weekend

TELECOMMUNICATIONS/MEDIA Century Link Technology Solutions 2355 Dulles Corner Blvd. Herndon, VA 20171 717-236-1385 www.centurylink.com Dawn Grice, Marketing [email protected] CenturyLink Technology Solutions delivers innovative IT services for global businesses on managed, virtual, dedicated and collocation platforms. For more information, visit www. centurylink.com/technology.

RENEWALS Century Link Technology Solutions www.centurylink.com Diaspark Inc. • www.diaspark.com Enable Healthcare Inc., DBA “EHI” www.ehiconnect.com Folded Structures Company, L.L.C. www.foldedstructures.com Genacast Ventures • www.genacast.com Grant Thornton LLP www.grantthornton.com Guardian Data Destruction www.guardiandatadestruction.com iContracts Inc. • www.icontracts.com Inspirity, Inc. • www.inspiritysoft.com JETT Consulting JTR & Associates • www.jtrinsurance.com Lightpath • www.golightpath.com Mitisa LLC Natcore Technology, Inc. www.natcoresolar.com Navio Health • www.naviogroup.com New York Institute of Technology www.nyit.edu NPS Pharmaceuticals • www.npsp.com/ Planet Associates, Inc. www.planetassociates.com Robert Half International, Inc. www.rhi.com S&A Schmitt and Associates, LLC www.sna-llc.com SimPhoTek Inc. • simphotek.com Sparkway • www.sparkway.com Sparta Systems, Inc. www.sparta-systems.com StederNC, LLC • www.stedernc.com Stevens Institute of Technology www.stevens.edu Systech International www.systech-tips.com The Protocall Group www.protocalltechnology.com Tymac Controls Corporation www.tymac.com Wexford Systems LLC. www.wexfordsystemsllc.com Wilkin & Guttenplan, P.C. • www.wgcpas.com

Joining the NJTC Paul Frank • Ext 222 • [email protected] Membership Services Judy Storck • Ext 246 • [email protected] Member Relations Manager Ellen Stein • Ext 228 • [email protected]

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TechLifeSciNews | www.njtc.org | September 2014

NJTC PHOTO GALLERY 

NJTC ANNUAL MEETING Almost 250 NJTC members attended the Annual Meeting at Forsgate Country Club on July 17. The day started with our Keynote Speaker, Keith Cooper, CEO from Connotate, Inc. Members participated in various table discussions during lunch. Maxine Ballen presented The “State of the Council”, providing an update on past, present and future activities. Maxine introduced James Barrood who has succeeded her as CEO of the NJTC. Results of the Technology Outlook Industry Survey - presented by Giordano, Halleran & Ciesla, PC and WithumSmith+Brown along with a panel of CEOs responded to the Survey as it pertains to their respective industry sectors. Thank you to our Sponsors: SorinRand – Platinum Sponsor Telx – Luncheon Sponsor DeVry University – Dessert Sponsor DATA, Inc. – Promotional Item Sponsor Giordano, Halleran & Ciesla, PC and WithumSmith+Brown – Technology Outlook Industry Survey Sponsors

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Photo 1: Keynote Speaker: Keith Cooper, CEO, Connotate, Inc. Photo 2: Maxine Ballen introduces James Barrood as the next CEO of the NJTC Photo 3: Technology Outlook Industry Survey CEO Panelists L-R: Mark Clifton, VP of Products & Services Division/General Manager, SRI International Sarnoff; Moderator: Kurt Anderson, Shareholder Representative, Giodano, Halleran & Ciesla, P.C.; Ron Gaboury, CEO, Yorktel; Fran Pierce, President, Chairman of the Board & CEO, DSA; Calvin Knowlton, CEO, CareKinesis; Ralph Izzo, Chairman, President & CEO; Public Services Enterprise Group Incorporated.

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TechLifeSciNews | www.njtc.org | September 2014

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NJTC CALENDER OF EVENTS TECHNOLOGY TOUR AND NETWORKING, TELX, NYC September 18 • 5:00 PM - 7:00 PM Telx’s NYC2 Data Center 111 Eighth Avenue, New York, NY Members FREE • Non-Members $20.00 Students $5.00 Occupying a unique position on top of the Hudson Street-Ninth Avenue fiber highway is NYC2 at 111 Eighth Ave, the third largest building in Manhattan. NYC2 is a premier North American facility with Telx as its leading collocation and interconnection provider. Telx’s NYC2 occupies over 100,000 sq.ft. on the 3rd, 5th, 6th, 8th, 14th and 15th floors. NYC2 has become a central hub for hundreds of leading domestic and international carriers and physical connection points for the world’s telecommunications networks and Internet backbones. Protecting some of the busiest switching stations in the world, NYC2 provides low-latency access to financial exchange and applications providers, media and content providers, Cloud and software-as-a-service (SaaS) providers and numerous enterprises.

CEO FORUM PRESENTS ROUNDTABLE PLANNING MEETING - MEMBERS ONLY September 19 • 8:30 am - 10:00 am Morgan Lewis 502 Carnegie Center, 2nd Floor Princeton, NJ Members: Free

NETWORKS

NJTC Industry Networks present programs about opportunities and challenges facing NJ technology companies by industry segment. Arts & Technology Patron Sponsors: EisnerAmper LLP Contact: Paul Frank • Ext 222 [email protected] Electronics, Advanced Materials & Logistics Patron Sponsors: Baker & Hostetler LLP • EisnerAmper Contact: Paul Frank • Ext 222 [email protected] Ellen Stein • Ext 228 [email protected] Enviro-Energy Industry Patron Sponsors: Baker & Hostetler LLP • WeiserMazars LLP Contact: Paul Frank • Ext 222 [email protected] Ellen Stein • Ext 228 [email protected]

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NJTC member CEOs are invited to join us for a members-only CEO Roundtable on September 19, 2014. The purpose of this meeting is to share ideas about topics, forums, speakers, etc. that interest you. We need to hear directly from you so that we can offer programming that is valuable and worthwhile to assist you in running your company. Please take the time to join us for a short, informal discussion with fellow CEOs. We’ll provide the coffee and bagels (courtesy of Morgan Lewis) and ask that you bring your ideas. REGISTER TODAY

NJTC LEADERSHIP SUMMIT 2014 SEE PAGE 14 October 7 • 7:30 am - 2:30 pm EisnerAmper LLP 111 Wood Ave South, Iselin, NJ

CFO PEER NETWORK ROUNDTABLE/ PLANNING MEETING October 10 • 8:30 AM - 10:00 am Ernst & Young 99 Wood Avenue, South Iselin , NJ Members: Free

Attention NJTC Member CFOs: This is the time of year when we reach out to member financial leaders to learn about your current interests, successes and challenges. We are also interested in hearing your thoughts on plans and issues you anticipate and where you see your company in

IT/Software Patron Sponsor: BDO Contact: Paul Frank • Ext 222 [email protected] Judy Storck • Ext 246 [email protected] LifeSci & MedTech Patron Sponsors: Drinker Biddle • McGladrey Contact: Paul Frank • Ext 222 [email protected] Ellen Stein • Ext 228 [email protected] Telecommunications/Media Patron Sponsor: Verizon New Jersey Contact: Paul Frank • Ext 222 [email protected] Judy Storck • Ext 246 [email protected]

the coming year. Your insight and participation in this meeting is critical to our ability to offer timely, worthwhile programs for the CFO. OPEN TO NJTC MEMBER CFOs ONLY

COOL PRODUCTS & SERVICES COMPETITION - PHILADELPHIA October 15 • 4:00 PM - 7:15 PM BakerHostetler LLP Cira Center, 12th Floor 2929 Arch Street, Philadelphia, PA Members $10.00 • Non-Members $30.00 Students $5.00 • Exhibitors $250.00 NJTC is seeking to present some of the coolest technology products and services designed in the US or abroad in the past four years. Products or services should be focused in one of five industry categories including: Electronics, Advanced Materials & Logistics Environment/Energy Information Technology Life Sciences Telecom/ Media Products or Services should have been on the market to generate sales which will be taken into consideration by the selection committee. Submissions must include information on Clarity, Value and Credibility. To complete a submission form visit our website at www.njtc.org Join us and participate (by voting) on the final selections on either Wednesday, October 16 in Philadelphia or Thursday, October 17 in Paramus. Workgroups, exhibit opportunities and a networking reception will also be offered.

NJTC Peer Networks bring together like-minded technology professionals to share common issues, learn best practices and gain perspective across all technology industry segments. CEO Forum Patron Sponsors: Morgan Lewis WithumSmith+Brown Contact: Karen Lisnyj • Ext 229 [email protected] CFO Peer Network Patron Sponsors: Cresa NJ – North/Central LLC Ernst & Young, LLP Contact: Karen Lisnyj • Ext 229 [email protected] CIO Peer Network Patron Sponsors: Oracle • telx Contact: Karen Lisnyj • Ext 229 [email protected]

TechLifeSciNews | www.njtc.org | September 2014

Government Affairs Contact: Karen Lisnyj • Ext 229 [email protected] Software Engineering Leaders Peer Network Patron Sponsors: Sparta Systems Szaferman, Lakind, Blumstein & Blader, PC

For updated information or to register for NJTC events, visit www.njtc.org

COOL PRODUCTS AND SERVICES COMPETITION - PARAMUS October 16 • 4:00 PM - 7:00 PM Lincoln Technical Institute 240 Bergen Town Center Paramus, NJ

Members $10.00 • Non-Members $30.00 Exhibitors $250.00 NJTC is seeking to present some of the coolest technology products and services designed in the US or abroad in the past four years. Products or services should be focused in one of five industry categories including: Electronics, Advanced Materials & Logistics Environment/Energy Information Technology Life Sciences Telecom/Media Products or Services should have been on the market to generate sales which will be taken into consideration by the selection committee. Submissions must include information on Clarity, Value and Credibility. To complete a submission form visit our website at www.njtc.org Join us and participate (by voting) on the final selections on either Wednesday, October 16 in Philadelphia or Thursday, October 17 in Paramus. WorkGroups, exhibit opportunities and a networking reception will also be offered.

AWARDS CELEBRATION SEE PAGE 11 November 20 Renaissance Woodbridge Hilton Woodbridge, NJ

SAVE THE DATE TECHNOLOGY TOUR OF CORESITE’S NY2 DATA CENTER

October 23 • 4:00 PM - 7:00 PM Members $0.00 • Non-Members $40.00

SOFTWARE ENGINEERING LEADERS November 18 • 8:30 AM - 10:00 AM Members $0.00 • Non-Members $50.00

Council Connections NJTC BOARD OF DIRECTORS Chairman of the Board Simon Nynens, Wayside Technology Group, Inc. Co-Chair Virginia Alling, PNC Bank Board Members Mel Baiada, BaseCamp Ventures Maxine Ballen, New Jersey Technology Council James Barrood, New Jersey Technology Council Joel Bloom, New Jersey Institute of Technology James Bourke, WithumSmith+Brown, PC Skip Braun, Deloitte Charlene Brown, AT&T Leslie Browne, Senesco Technologies, Inc. Michael Christman, Coriell Institute for Medical Research John Clarke, Cardinal Partners Mark Clifton, SRI International Steven Cohen, Morgan Lewis Kathleen Coviello, New Jersey Economic Development Authority Saki Dodelson, Achieve3000, Inc. Patricia Donohue, Mercer County Comm. College Chris Downie, Telx Nariman Farvardin, Stevens Institute of Technology Ronald Gaboury, Yorktel Mark Giamo, BDO USA, LLP Andrew Gilbert, DLA Piper Richard Goldberg, R² Associates Ian Goldstein, Drinker Biddle Darren Hammell, Princeton Power Systems Paul Hoffman, Liberty Science Center John Houghton, Nephros, Inc. Brian Hughes, KPMG LLP Flint Lane, Billtrust John Lanza, McGladrey John Martinson, Edison Partners Dan McGrath, Maloy Risk Services Stephen Muretta, Ernst & Young LLP Richard Napoli, ObjectFrontier, Inc. Gregory Olsen, GHO Ventures, LLC Kevin Pianko, WeiserMazars LLP Ari Rabban, Phone.com Marianna Rabinovitch, ECI Technology Jeff Rosedale, BakerHostetler LLP Douglas Schoenberger, Verizon Stephen Waldis, Synchronoss Technologies Alan Wink, EisnerAmper LLP

TechLifeSciNews | www.njtc.org | September 2014

PRESIDENT & CEO James C. Barrood • [email protected] FOUNDER Maxine Ballen • [email protected] EXECUTIVE VICE PRESIDENT Paul A. Frank III • [email protected] EXECUTIVE ADMINISTRATOR Karen Lisnyj • [email protected] MEMBERSHIP RELATIONS MANAGER Ellen Stein • [email protected] OFFICE ADMINISTRATION/MEMBERSHIP SERVICES - CONNECTIONS EDITOR Judy Storck • [email protected] IT COORDINATOR Erwin Racimo • [email protected] ACCOUNTING Peggy Reeve • [email protected]

NJTC CHARTER MEMBERS Deloitte Edison Venture Fund KPMG LLP Maloy Risk Services Morgan Lewis PNC

NEW JERSEY TECHNOLOGY COUNCIL www.njtc.org 1001 Briggs Road, Ste 280 Mount Laurel, NJ 08054 856-787-9700

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