EpiBone, an emerging biotechnology company co-founded and run by Nina Marie Tandon — a biomedical engineer who holds several patents and is known for her TED Talks on engineered tissue and the future of personalized medicine — is coming to Jersey City.
EpiBone, which currently is based in Brooklyn, New York, said it has outgrown its current location and is headed to New Jersey thanks to a $3.5 million Emerge tax credit, awarded by the New Jersey Economic Development Authority on Wednesday.
The company grows bone and cartilage for skeletal reconstruction using stem cells to create new healthy bone, cartilage and compound (bone and cartilage) products in a lab. It is a clinical-stage company, with one product in clinical trials and two products in various phases of clinical development. Because of this, EpiBone officials said they need to take on additional space, including a clean room, and hire more support staff.
Tandon said she is thrilled to be crossing the river.
“New Jersey’s educated and diverse talent pool, accessible location and network of high-profile research universities makes it an ideal spot for a dynamic, rapidly growing business to reach its potential,” she said.
About Nina Marie Tandon
EpiBone is co-founded and led by CEO Nina Marie Tandon, a New York City native and biomedical engineer, who holds several patents and is known for her TED Talks on engineered tissue and the future of personalized medicine.
Tandon has completed a Ph.D. in biomedical engineering and MBA from Columbia University, as well as a master’s in bioelectrical engineering from Massachusetts Institute of Technology.
Named an Ernst & Young Winning Woman, and one of Goldman Sachs’ 100 Most Intriguing Entrepreneurs, she also is a WEF Young Global Leader and McKinsey alumna.
Tandon’s passion for science and innovation is dwarfed only by her desire to see the promise of regenerative medicine fully realized.
“New Jersey also offers a robust range of programs to support companies through all stages of growth. Jersey City, in particular, is a model of diversity, has a thriving innovation community and is accessible via mass transit — all just a short drive from Lower Manhattan and major international airports.”
Prior to EDA board consideration, Tandon submitted a letter of intent to the EDA indicating that, if the authority approved the tax award as proposed by the EDA, EpiBone would proceed with the project at the qualified business facility located at 95 Greene Street in Jersey City.
The project will be the company’s headquarters and will include research & development facilities and clean room space. The positions moving to Jersey City include executive staff, clinical positions, research, system engineers, lab support, quality control and quality assurance specialists, manufacturing support, information technology and various administrative functions.
Gov. Phil Murphy said the state is eager to have EpiBone, calling the move an affirmation of the Emerge program — and the state’s life science sector.
“By securing EpiBone’s relocation to Jersey City through the groundbreaking Emerge Program, New Jersey is once again expanding its nation-leading life sciences ecosystem,” he said. “EpiBone will serve as an invaluable asset to our growing economy as it brings nearly 100 new jobs to our state and innovates at the cutting edge of life-changing biotechnology.”
EDA CEO Tim Sullivan agreed.
“The board’s approval of EpiBone for tax credits illustrates the ability of the Emerge program to attract growing innovation companies to New Jersey,” he said.