New Jersey Makes Gains as Biotech Center

The state of New Jersey has been named one of the five major geographic growth areas for biotechnology in the world, according to a special report published by FierceBiotech, an internationally recognized email newsletter for the biotechnology industry. The report profiles the top five regions in the United States and abroad that have shown the most promise and commitment to investing in the biotech sector.

FierceBiotech evaluated dozens of domestic and international initiatives to identify the five regions that are best positioned as hotbeds of biotech innovation. Along with New Jersey, the other four regions are California, Maryland's I-270 Tech Corridor, Singapore Biopolis and Wisconsin.

"New Jersey is truly the perfect location for emerging companies and research initiatives, as the growing number of biotech companies located here have already realized," said Debbie Hart, president of Biotechnology Council of New Jersey (BCNJ). "With strong and creative government backing and support, close proximity to some of the nation's finest educational and research institutions, and access to the world's top pharmaceutical companies, New Jersey is poised to realize its full potential as an important location for biotechnology and life sciences on the world's stage. This recognition is evidence of that potential."

According to BCNJ, the number of New Jersey biotechnology companies grew from 80 in 1998 to 124 when last officially measured in 2003. A study currently being conducted by BCNJ in partnership with Ernst & Young is expected to demonstrate dramatic new growth since the last study, continued Hart.

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