NJII Sale of BioCentriq

Published: Tuesday, May 17, 2022

Dear NJIT Community Members,

I want to share with you a significant achievement for NJIT/NJII. As announced in this press release, NJII has sold BioCentriq for $73 million. BioCentriq was founded based upon NJIT's strengths in life sciences and engineering and has evolved from a start-up to its present status under the leadership of Dr. Haro Hartounian. NJII CEO Simon Nynens led the management of multiple negotiations for this sale to GC Holdings with the assistance of legal and financial expertise. The proceeds of this transaction will be held by NJII and used to continue growing an innovation and entrepreneurship ecosystem that supports the State of New Jersey and its regional economy.

This success was the result of the support provided by the NJIT Board of Trustees in establishing NJII in 2014 and fostering its growth, as well as several NJIT and NJII colleagues who have helped enable NJII to pursue innovation and entrepreneurship. In 2018, NJII became the platform for BioCentriq and the portal to engage companies seeking a full-service CDMO for cell and gene therapy process development and clinical manufacturing. During the past two months,  the NJII Board of Directors provided critical review and consent of this transaction.

My thanks to all who have facilitated NJII's success, the establishment and growth of BioCentriq, and the completion of this agreement, which will enhance BioCentriq’s ability to drive cell and gene therapy innovation that delivers life-changing therapies for patients.

Sincerely,

Joel S. Bloom