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04/15/2005 - BIOTECHNOLOGY COUNCIL OF NEW JERSEY ANNOUNCES SUPPORT FOR NEW JERSEY STEM CELL RESEARCH INSTITUTE INITIATIVE Endorsement Encourages Creation of Nation's First Publicly Funded Stem Cell Research Institute
Trenton, N.J. (April 15, 2005) - Today, the Biotechnology Council of New Jersey, Inc. (BCNJ) announced its support and endorsement of the New Jersey Stem Cell Institute Research Initiative, and the issuance of bonds to support it. The initiative, which includes dedicating $380 million for the building of the Stem Cell Institute of New Jersey and financing stem cell research, will provide the second largest commitment to stem cell research in the nation. The announcement was made as Governor Richard Codey attended a symposium today at Princeton University that aimed to address the policy and economic implications of state-sponsored stem cell research.
"BCNJ is proud to support the New Jersey Stem Cell Institute Research Initiative because it has the power to create the nation's first publicly funded institute dedicated to research that will lead to developing new therapies and cures for some of the world's most mysterious diseases," said Debbie Hart, president of BCNJ. "With more than 130 biotechnology companies across the state, New Jersey is an unparalleled leader in biotechnology and life sciences research. This initiative will strengthen our state's superior infrastructure in bioscience research and bolster our resolve to make the world a better place."
Recognizing the importance of the field of stem cell research and the long-term promise that it holds in the medical arena, BCNJ and its member organizations are dedicated to furthering this research through the biotechnology industry in New Jersey. Employing more than 8,000 people in biotechnology alone, New Jersey has become one of the top five biotech clusters in the U.S.
"As one of the foremost areas for biotechnology ventures in the world, New Jersey is the most logical location for such an important research institute," said Dr. Sherrie Preische, executive director of the New Jersey Commission of Science & Technology. "With its close proximity to some of the nation's finest educational institutions, strong government support for biosciences and access to 15 of the world's 20 top pharmaceutical companies, New Jersey is poised to become the most important location for biotechnology and life science research through this initiative."
The Biotechnology Council of New Jersey was founded in 1994 by New Jersey Biotechnology industry CEOs to serve as the voice of the biotechnology industry in New Jersey. With 150 member companies, BCNJ is single-minded in its commitment to the growth and prosperity of New Jerseys rapidly expanding biotechnology cluster. For more information, visit the BCNJ Web site at biotechnj.org.
Official statement of endorsement from the Biotechnology Council of New Jersey:
The Biotechnology Council of New Jersey supports initiatives designed to help the State build upon its superior infrastructure in the life sciences and retain its leadership position in developing new therapies and cures. As part of this effort, BCNJ endorses the New Jersey Stem Cell Institute Initiative and the issuance of bonds to support it. BCNJ recognizes the importance of the field of stem cell research and hopes that this initiative is the continuation of a long-term commitment to continued support for funding of all biotechnology initiatives in NJ.
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