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FOR IMMEDIATE RELEASE
Tuesday April 20, 2004
For More Information:
Michelle Ruess
(609) 984-1671
NJCST Allocates $500,000 to New Jersey Research Universities Research, investment projects to help meet needs of high-tech businesses

Newark – The New Jersey Commission on Science and Technology today allocated a total of $500,000 to New Jersey’s three public research universities for projects that will directly serve the needs of New Jersey’s high-tech businesses sector and New Jersey’s residents.

The Commission, chaired by James M. Coleman Jr., took action during its usual quarterly meeting held today at the Public Health Research Institute in Newark.

Commission members approved a recommendation by NJCST Executive Director Dr. Sherrie Preische to fund the proposals with unallocated grant funding available in the current fiscal year. Dr. Preische called the action “a first step toward improving the environment for New Jersey’s technology sector – and consumers.”

Projects receiving NJCST funding include:

University of Medicine and Dentistry of New Jersey will review its process for carrying out clinical trials for pharmaceutical and biotech companies, including reviewing ways to more efficiently and effectively serve the life sciences industry and developing a Website to provide information about clinical trials to companies and patients in New Jersey.

Rutgers University will provide research services and funding to early stage companies needing to do “proof-of-concept” research, as well as small grants to entrepreneurs starting companies based on intellectual property developed at Rutgers.

New Jersey Institute of Technology will provide resources and expertise to early-stage companies, such as helping them apply for federal SBIR and STTR grants.