The New Jersey Economic Development Authority (NJEDA) and the Coriell Institute for Medical Research have announced plans to establish a new Strategic Innovation Center (SIC) in Camden. This initiative aims to leverage the resources at Coriell to foster biomedical research and innovation, providing state-of-the-art incubator and laboratory spaces for emerging biotech companies. The project is expected to create approximately 150 permanent jobs and 100 construction jobs.
Governor Phil Murphy emphasized the state's commitment to advancing its innovation economy through targeted investments. "The NJ Biomedical Strategic Innovation Center is set to redefine biomedical research and development by uniting private companies, premier academic institutions, and leading entrepreneurs," he stated.
NJEDA CEO Tim Sullivan highlighted Camden's role as a pivotal hub for biomedical research, saying, "By partnering with leading corporations and academic institutions, the NJ Biomedical Strategic Innovation Center will leverage the state’s brightest minds."
The SIC will be located at the Lewis L. Coriell Medical Research Center in Camden, close to major corporate headquarters such as Campbell’s and Subaru. It will focus on cancer research, epigenetics, stem cells, and drug development while fostering collaboration with Rutgers University, Rowan University, and other New Jersey educational institutions.
Pending board approval, NJEDA plans to invest $20 million in the project. The Coriell Institute will contribute over $21 million towards constructing lab and co-working spaces.
State Senator Nilsa Cruz-Perez praised the initiative as a significant step for Camden City: “With the partnership between the New Jersey Economic Development Authority and the world-renowned Coriell Institute of Medical Research, we are not only driving cutting-edge biomedical research but also fostering an environment where groundbreaking discovery can thrive.”
Assembly Majority Leader Lou Greenwald added that this collaboration represents an investment in Camden's future as a center for biomedical discovery. Assemblywoman Melinda Kane echoed these sentiments, highlighting New Jersey's leadership in life sciences.
Camden Mayor Victor G. Carstarphen expressed support for the expansion: “Coriell is a longtime partner here in Camden...to ensure Camden leads the way in life sciences innovation.”
Strategic Innovation Centers like this one aim to support research through mentorships, networking opportunities, training, business services, and education. Last week, NJEDA also partnered with Nokia Bell Labs to create another innovation center focused on communication technologies.
For more information on NJEDA’s initiatives or partnerships with various stakeholders aimed at economic growth in New Jersey, further details are available from their official channels.
