The New Jersey-India Commission, in collaboration with Choose New Jersey, facilitated the signing of a Memorandum of Understanding (MOU) between Choose New Jersey, the Institute for Life Science Entrepreneurship (ILSE), and the Association of Biotechnology Lead Enterprises (ABLE). This agreement was signed by Lieutenant Governor Tahesha Way as part of the commission's inaugural economic mission. The MOU aims to enhance collaboration between biotechnology companies in New Jersey and India.
"Through this exciting partnership with Institute for Life Science Entrepreneurship and Association of Biotechnology Lead Enterprises, we will continue to strengthen the deep economic and cultural ties between New Jersey and India," stated Lieutenant Governor Tahesha Way. She emphasized the importance of bolstering opportunities in the biotechnology sector for both regions.
The agreement is designed to promote life sciences and technology-based foreign direct investment between New Jersey and India. It also seeks to improve global competitiveness and support collaborative research. ABLE initially partnered with Choose New Jersey in 2021 through an MOU with ILSE and BioNJ.
Wesley Mathews, President and CEO of Choose New Jersey, highlighted that "this agreement exemplifies New Jersey’s global leadership in life sciences and technology." He pointed out that this collaboration will address existing gaps in the ecosystem while connecting industry stakeholders.
ILSE was established at Kean University as a nonprofit research institute focused on life science innovation. Its president, Thomas Richardson, expressed enthusiasm about strengthening ties with ABLE: "Through this partnership, we aim to foster groundbreaking research."
ABLE represents over 400 members from India's biotechnology sector. Narayanan Suresh, COO of ABLE, said: "This agreement represents a significant milestone in our mission to advance the biotechnology ecosystem in India."
For more information on the economic mission or details about the MOU, reporters can contact Toral Patel or Ingrid Austin or visit choosenj.com/IndiaMission.
Choose New Jersey serves as a leading nonprofit organization focused on expanding New Jersey's economy by leveraging resources across various sectors.
