SOURCE: Edge Therapeutics

Edge Therapeutics

Edge Therapeutics

October 28, 2010 12:07 ET

Edge Therapeutics Named Incubator Company to Watch by New Jersey Technology Council

NEWARK, NJ--(Marketwire - October 28, 2010) -  The New Jersey Technology Council (NJTC) has named Edge Therapeutics one of four Incubator Companies to Watch. This acknowledgement is part of NJTC's Best of the Year awards celebrating the technology sectors of New Jersey. Edge is scheduled to be recognized at the NJTC Award Gala on Nov. 17 at the Hilton in East Brunswick, NJ.

Edge Therapeutics is a private, New Jersey based specialty biopharmaceutical company that transforms proven, off-patent drugs into targeted, locally delivered therapies that address large unmet medical conditions in the central nervous system (CNS). Edge is based out of the New Jersey Institute of Technology Enterprise Development Center (NJIT-EDC), a technology business incubator in Newark. Located on the campus of the New Jersey Institute of Technology, the NJIT-EDC is home to over 90 high-tech and life sciences companies.

"We are honored to be named one of NJTC's Incubator Companies to Watch. To be selected from among the more than 500 incubator companies based in New Jersey is a tremendous validation of the rapid progress we are making in developing life-saving therapies for CNS disorders," said Brian Leuthner, CEO of Edge.

"Edge Therapeutics is emerging as a home-grown success story for New Jersey. Edge is demonstrating what's possible when you combine innovative thinking of a new biotech venture with the resources and support of the New Jersey Business Incubator Network (NJBIN) and the local biotech community," noted Jerry Creighton, Sr., Executive Director of the NJIT-EDC and President of NJBIN.

The NJTC Awards Gala, an annual event recognizing the "Best in Technology" companies as well as government, educational and technology support leaders, has been called the "Academy Awards" for New Jersey's technology community. The gala honors companies and individuals in many categories including: Public, Private, Life Sciences, Green Communications, and IT/software. For a complete list of 2010 Gala Award honorees, visit www.njtc.org.

"Investing in innovative science and technology remains a key driver of short-term and long-term economic growth in New Jersey," said Maxine Ballen, CEO and president of the NJTC. "The management team at Edge Therapeutics is demonstrating that it's possible to define and advance research and development programs in a challenging economic environment. We are pleased to recognize Edge as an Incubator Company to Watch, and we look forward to watching this company grow."

The NJTC Gala Awards is held annually to publicly recognize and celebrate some of New Jersey's most successful companies. The event is hosted by the NJTC with support from several key sponsors.

About Edge Therapeutics:
Edge Therapeutics is a privately held specialty biopharmaceutical company founded in 2009 and funded by private investors and the New Jersey Economic Development Authority. Edge believes that local, sustained-release delivery of medicine directly to the injury site will prevent certain delayed complications, improve patient outcomes, and reduce healthcare costs. By transforming well-established off-patent drugs, Edge streamlines the development path and drastically reduces both risk and cost, thereby allowing investors to potentially recognize an attractive investment multiple within 3-4 years. Edge's lead product, NimoGel, will soon enter into its IND-enabling study and has the potential to generate annual U.S. sales exceeding $500MM. For more information on Edge Therapeutics, please visit www.edgetherapeutics.com.

About The NJTC
The New Jersey Technology Council provides business support, networking opportunities, information, advocacy and recognition of technology companies and their leaders. Founded in 1996, the NJTC's more than 1,100 member companies work together to support their own enterprises while advancing New Jersey's status as a leading technology center in the United States. For more information on the NJTC, visit http://www.njtc.org.

Contact Information

  • For more information contact:
    Edge Therapeutics, Inc.
    Brian A. Leuthner
    President & CEO
    Phone: 800-208-EDGE (3343)