The New Jersey Economic Development Authority (EDA) announced that it has approved more than $1 billion in funding for more than 540 technology and life sciences companies through the Technology Business Tax Certificate Transfer Program, more commonly known as the Net Operating Loss (NOL) Program, since the program's inception 20 years ago. Heralded as a lifeline for companies going through unprofitable times, the NOL Program enables eligible technology and life sciences companies to sell New Jersey net operating losses and unused research and development tax credits to unrelated profitable corporations for cash. The cash can then be used for working capital or to fund research. 

Technology and life sciences start-ups considering a move into incubators, accelerators or coworking spaces are now able to apply for rent support grants at nine collaborative workspaces throughout the state. These nine workspaces are the first to be approved by the New Jersey Economic Development Authority (NJEDA) to participate in  NJ Ignite . In support of Governor Phil Murphy's strategy to create a thriving innovation ecosystem, NJ Ignite benefits both emerging technology and life science companies and participating collaborative workspaces. The program provides up to nine months of rent support for startup businesses moving to collaborative workspaces.

Lawrenceville-based Asana BioSciences announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to Asana's investigational oral Janus Kinase (JAK) and Spleen Tyrosine Kinase (SYK) dual inhibitor ASN002 for the treatment of moderate-to-severe atopic dermatitis. "We are pleased that the FDA has granted Fast Track designation to ASN002. ASN002 is currently being evaluated in moderate-to-severe atopic dermatitis in the Phase 2b RADIANT Study (Relief from Atopic DermatitIs with JAK and SYK INhibiTion - NCT03654755). It is also being evaluated in a Phase 2 trial in patients with severe chronic hand eczema (NCT03728504).

Woodcliff Lake-based  Eisai Co., Ltd. and University College London (UCL) announced that they have commenced preparations for Phase I clinical studies on E2814, the first clinical candidate from their drug discovery collaboration, in Alzheimer's disease patients within fiscal 2018. E2814 is an anti-tau monoclonal antibody which is designed to slow the progression of Alzheimer's disease and other tauopathies. In addition, the research collaboration, agreed in 2012 for an initial period of six years, has been extended for a further 5 years to 2023.

Basking Ridge-based Daiichi Sankyo Company, Limited announced updated efficacy and safety results from the ongoing Phase 1/2 study of U3-1402, an investigational and potential first-in-class HER3-targeting antibody drug conjugate (ADC), in 42 heavily pretreated patients with HER3-positive metastatic breast cancer. Updated efficacy data for 42 evaluable patients who received U3-1402 in dose levels between 1.6 mg/kg to 8.0 mg/kg in the dose escalation and dose finding parts of the study showed a confirmed overall response rate of 42.9 percent (18/42 patients) and a disease control rate of 90.5 percent (38/42 patients) at a median follow-up time of 10.5 months.

East Windsor-based Lynkogen Inc. and Alteogen Inc. announced that they have entered into an exclusive option agreement for the development of Alteogen's novel GLP-1 mimetic and Alpha-1 Antitrypsin (A1AT) fusion proteins based on their proprietary NexP TM  fusion technology to tackle NASH and metabolic diseases. Under the terms of the agreement Lynkogen will have exclusive worldwide rights, excluding Korea and emerging markets, to develop and commercialize therapeutic GLP-1/A1AT fusion proteins.

Jersey City-based Mitsubishi Tanabe Pharma America, Inc. announced it will conduct a study to identify and measure specific biomarkers in people with amyotrophic lateral sclerosis (ALS). The findings may assist researchers and clinicians in starting the process of validation and the use of biomarkers as quantifiable, biological, non-clinical measures for disease progression and treatment effect of edaravone in people with ALS. Interim data are expected in 2019.

Florham Park-based Cellectar Biosciences announces the initiation of Cohort 6 of its ongoing Phase 1b trial evaluating CLR 131 for the treatment of relapsed/refractory (R/R) multiple myeloma (MM). Cohort 6 will evaluate up to four patients with each receiving two doses of 18.75 mCi/m2 of CLR 131 administered one week apart. This fractionated dosing regimen will result in each patient being treated with a total of approximately 75.0 mCi of CLR 131, representing an increase in average total exposure of greater than 15% over Cohort 5.

Warren-based  Aquestive Therapeutics, Inc.  announced findings from two clinical studies, including the Adult Epilepsy Monitoring Unit (EMU) study, showing that its investigational diazepam buccal film (DBF) was successfully used and had similar bioavailability whether administered between seizures (interictal) or during or shortly after seizures (ictal/peri-ictal) in adults with poorly controlled tonic-clonic seizures or focal seizures with impaired awareness. Investigational diazepam buccal film (DBF), tentatively named Libervant™, is a novel formulation of diazepam as a small, thin film strip for placement inside the cheek.

Lexicon Pharmaceuticals, Inc., with offices in Basking Ridge, announced that the U.S. Food and Drug Administration (FDA) Endocrinologic and Metabolic Drugs Advisory Committee (EMDAC) plans to review Lexicon collaborator BioNJ Member Sanofi's New Drug Application (NDA) for sotagliflozin, an investigational oral treatment for adults with type 1 diabetes, on January 17, 2019. The NDA included data from the inTandem clinical trial program, which includes three Phase 3 clinical trials assessing the safety and efficacy of sotagliflozin in approximately 3,000 adults with inadequately controlled type 1 diabetes.

Fair Lawn-based SK Life Science, Inc. announced results of a large, Phase 3, multicenter, open-label safety study of its lead investigational antiepileptic drug, cenobamate (YKP3089). Two previous pivotal, randomized, double-blind, placebo-controlled studies evaluated the efficacy and safety of cenobamate in adult patients with partial-onset seizures. During this clinical development program, a serious, delayed hypersensitivity adverse event, DRESS (drug reaction with eosinophilia and systemic symptoms) syndrome, emerged.

Takeda Pharmaceutical Company Limited, with offices in East Windsor, presented data from the Phase 3 randomized, TOURMALINE-MM3 study evaluating the effect of single-agent oral NINLARO™ (ixazomib) as a maintenance therapy in adult patients diagnosed with multiple myeloma who previously responded to high-dose therapy (HDT) and autologous stem cell transplant (ASCT). The trial achieved its primary endpoint with NINLARO resulting in a statistically significant improvement in progression-free survival (PFS) versus placebo in adult patients diagnosed with multiple myeloma who responded to HDT and ASCT as assessed by an Independent Review Committee (IRC) (HR 0.72; p-value=0.002). 

Takeda Pharmaceutical Company Limited, with offices in East Windsor, announced that data from the ECHELON-2 phase 3 clinical trial will be presented in an oral session at the 60th American Society of Hematology (ASH) Annual Meeting. The data demonstrated that frontline treatment with ADCETRIS (brentuximab vedotin) in combination with CHP (cyclophosphamide, doxorubicin, prednisone) is effective in extending progression-free survival (PFS) and overall survival (OS) with a safety profile comparable to CHOP (cyclophosphamide, doxorubicin, vincristine, prednisone), a current standard of care in patients with CD30-expressing peripheral T-cell lymphomas (PTCL).

GlaxoSmithKline plc, with offices in Warren, and TESARO Inc. announced that the companies have entered into a definitive agreement pursuant to which GSK will acquire TESARO, an oncology-focused company, for an aggregate cash consideration of approximately $5.1 billion (£4.0 billion). The proposed transaction will significantly strengthen GSK's pharmaceutical business, accelerating the build of GSK's pipeline and commercial capability in oncology.

Montclair-based Endomedix, Inc. announced that it has submitted a comprehensive patent application to protect both its latest chemistry technology and also the design and function of the spray-on hydrogel hemostat that it is developing for brain and spine surgery indications. This patent application further expands and deepens the protection of its intellectual property provided by the eight issued patents that the Company has previously obtained.

East Rutherford-based  Cambrex Corp.  entered into a definitive agreement to acquire  Avista Pharma Solutions , a contract development, manufacturing and testing organization, for about $252 million. I n a statement, Cambrex said that with the acquisition, Cambrex will enter the large and growing market for early stage small-molecule development and testing services.  Avista, for its part, offers a broad suite of scientifically differentiated services ranging from API and drug product development to standalone analytical, microbiology testing and solid-state sciences. 

Quest Diagnostics announced that it will build a flagship laboratory in Clifton.  The provider of diagnostic information services said that the 250,000-square-foot laboratory will become the largest in the Quest network of more than 20 laboratory facilities across the nation, and will employ more than 1,100 people. The new laboratory is expected to be operational in early 2021.  

Franklin Lakes-based medical technology company  BD  unveiled a new software application designed to help hospitals and health systems identify drug diversion . In a press release, BD said that as part of the BD HealthSight platform that is designed to support enterprise-wide medication management, the new BD HealthSight diversion management application is "the next step in the company's efforts to address drug diversion through integrated solutions and analytics."

American Water welcomed hundreds of people to a ceremony to mark the opening of its new national corporate headquarters on the Camden Waterfront.  The American Water Charitable Foundation presented a check of $200,000 to the  Camden School District  to develop an advanced STEM Lab at  Woodrow Wilson High School . Educators are prioritizing science, technology, engineering and mathematics education to prepare students for jobs that are in high demand.