Dear Biotechnology Industry Member:

Thank you for visiting the Biotechnology Council of New Jersey (BCNJ) Web site.

Founded in 1994, BCNJ has been hard at work in its mission to enhance the climate for biotechnology in the State. As the representative of an industry that has the potential to change the course of human health, make our environment cleaner and the foods we eat safer and healthier, BCNJ is single-minded in its commitment to the growth and prosperity of this industry within the State of New Jersey.

It has been an exciting time for the biotechnology industry and for BCNJ, and as we move into our second decade, it is with pride and commitment to the future that we highlight some of the important developments in the public policy, education, networking, and member services that are helping to foster the growth and prosperity of this important industry:

Public Policy

• On September 7, 2006, Governor Jon S. Corzine outlined a sweeping economic plan for New Jersey that recognizes the historic role research-based industries, such as the biotechnology industry, have played in advancing development, driving growth and bringing high-paying jobs to the State. One program element, the Edison Innovation Fund, is fostering early-stage development through new funding mechanisms and encouraging technology transfer from our universities. Also, the Governor's workforce development initiative will provide companies with the opportunity to train workers and develop human resource capabilities, contributing to growth and the development of needed expertise in critical areas. The New Jersey Economic Development Authority (EDA) is supporting these initiatives through a continuum of customized, streamlined, long-term support as a company advances through its business life-cycle.
• BCNJ conceived of and lobbied successfully for the Tax Credit Transfer Program, which gives new biotech companies much needed cash. Since the program's 1999 start, BCNJ has also lobbied successfully for its expansion along with other important changes that have made the program increasingly valuable to industry companies.
• Working collaboratively with State government, BCNJ proposed and supported the establishment of the Garden State Life Sciences Fund, a $40 million fund that invests in NJ biotechnology companies.
• The Business Employment Incentive Program was enhanced to allow biotechnology companies to qualify for the grant program with a minimum of 10 jobs created. This was reduced from the former 25-job creation minimum.
• The programs of the New Jersey Commission on Science and Technology have been bolstered through important structural and program changes. Commission programs supporting early-stage firms include Small Business Innovation Research (SBIR) Research Grants, New Jersey Technology Fellowships, the Entrepreneurial Partner Fund and funding for incubators.
• The New Jersey Economic Development Authority (EDA) launched the Technique Initiative aimed at attracting life science companies and growing this job base in New Jersey by providing a continuum of customized, streamlined, long-term support as they advance through their business life-cycle.
• The Business Retention and Recruitment Action Grants program (BRAG), which encourages companies to remain or relocate in NJ and rewards them with grants based on a percentage of payroll taxes, was established.
• To foster future economic growth, the State branded Innovation Zones in Newark, North/New Brunswick and Camden, designating areas surrounding New Jersey's public research universities where entrepreneurs can find the resources they need to succeed.

Education and Networking:

• BCNJ continues to bring the industry together at important gatherings such as Biotech 2006. Biotech 2006 brought together more than 800 biotechnology and pharmaceutical executives, industry researchers and university academics to Philadelphia for two days of keynote speeches by industry leaders, stimulating seminars and networking opportunities. Another 900 individuals attended our first-ever Career Fair.
• BCNJ presented a series of member forums directed to chief financial officers, business development executives and human resource administrators to facilitate professional growth and interaction.
• BCNJ's 2007 Annual Meeting featured New Jersey Economic Development Authority Chief Executive Officer Caren S. Franzini and keynote speaker Andrew Forman, who last year was ranked the No. 1 pharmaceutical analyst by Forbes and in a Wall Street Journal survey. Forman is Managing Director, Senior Analyst, Specialty Pharmaceuticals at WR Hambrecht + Co.
• March 22, 2007, will mark the eighth time that BCNJ will co-host the New Jersey High Tech Hall of Fame with partners, AeA, Advancing the Business of Technology and the HealthCare Institute of New Jersey (HINJ). The High-Tech Hall of Fame provides a unique opportunity to recognize industry members who have made and who continue to make significant contributions to the growth and prosperity of the biotechnology industry in New Jersey.
• The Biotechnology Industry Organization's (BIO) 2006 Annual International Convention, April 9-12, 2006, in Chicago, was the largest BIO meeting ever and an unparalleled success for New Jersey's emerging biotechnology cluster. Highlights included the release of an industry survey conducted by BIO and Battelle that firmly established New Jersey as a top region for biotechnology and the New Jersey Pavilion, which served as a magnet to draw attention to an impressive sampling of companies, government agencies and educational institutions. BIO 2007, which will be held May 6-9, 2007, in Boston, promises to be even more impressive.

Member Services

• BCNJ members have saved millions on Fisher Scientific lab supplies through an innovative purchasing program, and I am pleased to report that the BCNJ Board of Trustees recently approved a renewal of this important contract.
• Through our Joint Benefits Agreement with BIO, in addition to discounts on Directors' and Officers' (D&O) and Employment Practices Liability (EPL) Insurance; office supplies, furniture and equipment; computer and technology products; news distribution; 401K plans; employment background screening and drug testing services; moving and storage; online used equipment exchange; and risk management and insurance, members will soon enjoy discounts on additional employee benefits and group employee insurance.
• BCNJ launched a Career Center on our Web site that allows companies to post job openings and candidates to post their resumes. Send us your jobs.
• BCNJ also launched a headline news service on our home page, providing members via PR Newswire with real time reports about biotech companies in New Jersey, the nation and international markets. Send us your news.

BCNJ wishes to thank its Diamond Members for their support ? Bristol-Myers Squibb, Celgene Corporation, Commerce Banc Insurance Services, Dechert, LLP and Ernst & Young.

We hope that you will agree that membership in BCNJ is an investment in your company's future. We welcome the opportunity to meet with you to discuss how we can better serve your company and ensure that you receive all of the benefits of membership. We thank you for your consideration and welcome your comments.

Yours in the BCNJ,

Debbie Hart
President