$53 million in grants and tax credits for NJ biotechnology research and innovation (South Plainfield, NJ)
Senator Menendez stands with Debbie Hart, President of BioNJ, the industry's state organization, and William "Chip" Baird, Chief Financial Officer of PTC Therapeutics announce $53 million in grants and tax credits for 133 small biotech firms in NJ. This funding will help New Jersey stay at the forefront of biotechnology innovation, help protect and create quality local jobs, and help facilitate better health care for everyone. It was awarded through a program championed by Senator Menendez as part of the health insurance reform legislation, the "Qualifying Therapeutic Discovery Project". After the announcement, Senator Menendez toured the facilities of PTC Technologies where some of the research will be conducted.