NEW BRUNSWICK — Michael Sheldon was sitting at a table with a representative from another life sciences company at a New Brunswick Development Corporation mixer earlier this year when the conversation turned to what their companies did.
A couple of cocktails later, Sheldon, senior director of research collaborations for Piscataway-based Sampled, had a new business lead.
Turns out, the man sitting next to Sheldon represented a company that develops genetically and behaviorally based testing to assess a person’s risk for addictive and compulsive behaviors. Its chief executive told Sheldon the company was planning to send samples to a laboratory on the West Coast.
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“I said, ‘Why would you do that? We can do it,’” Sheldon said. “And next thing you know, we’re doing it.”
The two companies have since begun a collaborative project – one that illustrates the sort of interaction and interconnection DEVCO President Chris Paladino envisioned when the first plans were being drawn for the New Jersey Innovation Hub at the Health + Life Science Exchange, or HELIX.
The New Jersey Innovation Hub, Powered by Portal, officially opened Tuesday with a ribbon-cutting ceremony that brought together Mayor Jim Cahill, Rutgers President William F. Tate IV, Middlesex County Commissioner Director Ronald G. Rios, Rep. Frank Pallone Jr. (D-6) and other state and local officials, business leaders, investors and representatives of the life sciences community.
The event marked another milestone in the development of the HELIX, a three-building, 1.5-million-square-foot innovation district rising on four acres across from the New Brunswick Train Station. H-1, the first building, houses Rutgers’ Robert Wood Johnson Medical School, translational research facilities and the Innovation Hub. H-2 is planned as the new home of Nokia Bell Labs, while H-3 is planned as a mixed-use tower with laboratories, offices and residential space.
The Innovation Hub occupies three floors of H-1 and is designed to give startups, entrepreneurs and established companies access to furnished laboratory and office space, shared equipment, investors, industry partners and one another. Portal Innovations operates the incubator and coworking space, which includes more than 30,000 square feet of lab space, more than 140 laboratory benches, 80-plus desks and specialized equipment.
For Sheldon, the value of the Hub is not simply the desk where he works.
Sampled was founded at Rutgers in the late 1990s as a nonprofit before becoming a private company about six years ago. The company operates a large biorepository in Piscataway and provides laboratory processing services for government agencies, pharmaceutical companies and organizations conducting clinical trials and research programs.
Because Sampled already has its laboratory infrastructure nearby, Sheldon said the company did not need to build another laboratory in H-1. Instead, he uses a humble, well-lit desk in the Hub as a base for making connections with companies and organizations that could eventually become clients or collaborators.
That has already led to conversations with a therapeutics company, a pharmaceuticals startup and others.
Sheldon said many of the startups are still raising money and are not yet ready to use Sampled’s services. But as those companies advance their research, he expects the relationships forged at the Hub to become increasingly important.
“That’s the opportunity,” he said. “A lot of these startups are still raising money, and they’re still in early stages, so they don’t necessarily need our services right away. But they will. If they’re successful in raising that money, they’ll need to start doing some studies.”
Raghu Rao is one of those entrepreneurs building a company inside that ecosystem.
Rao, chief executive officer of Guidant Biotherapeutics, currently has a desk at the Innovation Hub and is transitioning some of the company’s research and development work into its shared laboratory space. The company is also maintaining a presence in Princeton, where Rao said it is transitioning from Princeton Bio Labs.
Guidant is in the middle of a fundraising round and expects to receive a $1 million state match through New Jersey’s angel investor matching program, Rao said. The money will allow the company to hire additional people as it continues rebuilding after the death of its founder.
Rao described Guidant as essentially a seed-stage company again, despite the years of research behind its technology.
The company’s focus is cancer treatment – specifically, finding a way to deliver therapeutics directly to tumors rather than allowing most of the drugs to circulate throughout the body and cause systemic toxicity.
“Basically, we guide therapeutics into the tumor,” Rao said. “Only 2 to 3% goes into the tumor. The rest goes into the body and creates havoc — systemic toxicity. So we solve that problem, which is a fundamental problem with cancer therapeutics.”
The company’s approach takes advantage of albumin, a protein found in human blood that tumors absorb as a metabolic resource. Guidant uses albumin as a kind of biological vehicle to carry therapeutic payloads into tumors and keep them there.
Rao compared the approach to a Trojan horse or missile carrying two payloads into the tumor.
The company has spent about a decade developing the technology. One of its programs, involving a bladder cancer drug, is already in the clinical stage and is being tested in Australia.
Rao said the Australian trial is designed as a benchmark against a competing drug that is already approved in the United States and Europe. Because that drug is not approved in Australia, Guidant can test its treatment without having to give the competing drug first as the standard of care.
The company expects its drug to be about twice as potent as the competing treatment while producing only about 10% of its toxicity, Rao said.
At the Innovation Hub, meanwhile, Guidant is working on the next generation of its technology.
The company has already developed a platform for delivering immune activators known as cytokines into tumors. That work has reached the clinical stage. Researchers working at the Hub are now using the laboratory space to develop another application: delivering precision-oncology drugs, including chemotherapy toxins, directly into tumors.
Rao said the shared laboratory model fits Guidant particularly well because the company’s researchers are highly experienced and do not need a large footprint.
“We don’t need a lot of space, but we need the facility to do the research and development aspect,” he said. “This is a shared model, which works really nice.”
The company has about 21 people involved, including researchers with decades of experience at pharmaceutical companies such as Bristol Myers Squibb, Pfizer and Johnson & Johnson.
Rao said the location is another attraction. The Hub is next to the train station, making it accessible to workers from New York and elsewhere in the region, while its proximity to Rutgers, the New Jersey Economic Development Authority and the state’s broader life sciences network creates opportunities for connections.
Rao has experienced those connections from several perspectives. He said he is an investor and mentor who has worked with more than 100 companies through BioNJ, while also serving as the founder of a startup himself.
So Tuesday was another good day for the city: another piece of the long-planned HELIX had become operational, creating the possibility that a conversation over drinks or even over iced lattes on the building’s ground floor could become a new company project.
Cahill, in his remarks Tuesday, traced the Hub to a concept that was formally launched in 2018 and called its opening another milestone in the continued development of the HELIX.
He thanked the project’s partners, including Rutgers, RWJBarnabas Health, Hackensack Meridian Health, the New Jersey Economic Development Authority, Middlesex County and DEVCO, and said the significance of the project goes beyond the businesses occupying the building.
“The Innovation Hub brings together researchers, entrepreneurs, investors, and emerging companies providing the resources and opportunities they need to turn promising ideas into real-world solutions,” Cahill said.
For the city, he said, the project is about strengthening the local economy, creating career and job opportunities and making sure New Brunswick residents and future generations benefit from the growth taking place around them.
“And Chris, it never gets boring, does it?” Cahill said, turning toward Paladino near the end of his remarks. “It really is exciting.”