June 2014 june2014 - New Jersey Technology Council

EXPLORING THE TECHNOLOGIES THAT CHANGE THE WAY WE LIVE
New Jersey
Technology Council
www.njtc.org
June 2014
Vol. 13 Issue 2
$3.50
6
Innovative
18How
mHealth Apps
Meet John Houghton
CEO of Nephros
Are Transforming
Patient Care
16
Taking Speech
Therapy Online:
The New Jersey Technology Council
and Education Foundation
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contents
On the Cover
18 How Innovative mHealth Apps are
Transforming Patient Care
By Tori Coons
Discover how through better and smarter mobile technology
patients will start to see care delivered with new methods.
PRESIDENT’S MESSAGE
Even though summer is quickly approaching, the NJTC will be hard at work to
offer an ongoing and exciting calendar of events. So watch your emails and
continue to check out our website for late breaking updates.
On June 25, join the NJTC with the support of AT&T for the Mobile Apps
Forum and Competition located at Princeton University. This is the ideal
opportunity for developers, entrepreneurs, market leaders and investors to
get together and discuss building mobile applications for wireless, mobile
Internet and broadband services. Most importantly, the event will highlight the
expanding medical apps sector and the unique opportunities. The event will
include a keynote speaker, panel and a Mobile Application Showcase where
developers from the U.S. and other parts of the world will make presentations
of their applications. Don’t miss out on this exciting event; sign up today.
Next up, the members only Annual Meeting will be held on July 17 at the
Forsgate Country Club. Plan to join us and network with your peers, while the
Council presents an update on the past, present
and future activities and benefits that come
Visit our
with being a member. Also, be one of the first to
hear firsthand what the third annual technology
website at
outlook industry survey will reveal this year.
www.njtc.org
As you can see, the NJTC has been busy. So as
you get ready to plan your summer, make sure
to make time to meet and network with fellow
members at one of these great events. We look forward to seeing you! n
Plugged In
6 You Live in the Mobile World; Why Shouldn’t You EHR?
7New Software Being Developed to
Help Prevent Traffic Congestion
8 Segmentation for Entrepreneurs
By Adrian Trevisan
Columns
4 CORNER OFFICE
Meet John Houghton the CEO and President of Nephros
By Carly Bohach
7EDUCATION
A Game-Changer for Industry Collaboration
in Life Sciences at Rutgers
By S. David Kimball
10 LEGAL EAGLE
Considerations for Technology Companies to
Attract, Motivate and Retain Key Talent
By Michelle Capezza
—Maxine Ballen, President & CEO, NJTC
Features
TechLifeSciNews
PUBLISHER
Maxine Ballen • [email protected]
June 2014 • Vol. 13 No. 2
New Jersey Technology Council
& The Education Foundation
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phone (856) 787-9700
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www.njtc.org
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CONTRIBUTING EDITOR
Carly Bohach • [email protected]
NJTC CONNECTIONS EDITOR
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GRAPHIC DESIGNER
Bonnie Jacobs • [email protected]
16 Taking Speech Therapy Online
By Lisa Haynes
Find out how Lingraphica’s online speech therapy platform
provides people with an affordable speech solution.
NJTC Connections
12CALENDAR OF PROGRAMS
14 NEW MEMBERS
22 PHOTO GALLERY
ADVERTISING
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TechLifeSciNews | www.njtc.org | June 2014
@NJTC
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3
John Houghton
CEO of Nephros
BY CARLY BOHACH
How did you become CEO?
I graduated from University and moved directly into the Life Sciences industry;
my first job was selling products to Healthcare professionals. I find myself
continuing to do the same thing 27 years later. My career has progressed both
vertically and horizontally. I have worked across several therapeutic areas at
various stages of product development and across industries i.e. Pharmaceutical,
Medical Device and Biotech. Along the way I have gained direct experience and
understanding of how products are discovered, how they are developed, how
they are manufactured, how they are approved and ultimately how they are
commercialized. I suppose you could say I started out as the CEO for the Products
I was selling 27 years ago and here I am as the CEO for the products.
What qualities do you feel you need to possess in
order to be a successful leader in the life science
industry?
There are many qualities required to become a successful leader; however there
are three that I believe stand out from the crowd. 1) Execution - Having a bias
for action, being results driven and decisive. There will be many bumps along
the way and during tough times, there is no greater sin than doing nothing.
2) Conscientious and self-propelled - Remaining focused and tenacious is
important. Good things come to those who believe, better things come to those
who are patient and the best things come to those who do not give up. 3)
Collaborative - In today’s complex highly connected world you must have the
ability to collaborate; getting the best out of people even if there is no direct
reporting relationship i.e. having the ability to inspire and mobilize others
towards a common goal and working together to achieve something special and
otherwise impossible.
I would also add that you have to remain cautiously optimistic. At all times
team members are looking at you to see how you are reacting and what feelings
you are displaying, any display of negativity is picked up very quickly. That does
not mean you hide any disappointing news or outcomes; you must face adversity
with an element of realism.
What do you want people to know about Nephros?
Nephros is a commercial stage medical device company that develops and sells
high performance liquid purification filters that provide a superior combination
of filtration, flow rate and filter life. Our filters, which we call ultrafilters, are
primarily used in dialysis centers for the removal of biological contaminants from
water, bicarbonate concentrate and/or blood. Because our ultrafilters capture
contaminants as small as 5 nanometers in size, they minimize exposure to a wide
variety of bacteria, viruses, fungi, parasites and endotoxins.
Presently, we offer ultrafilters for sale to customers in four markets:
•
Dialysis Centers - Water/Bicarbonate: Filtration of water or bicarbonate
concentrate used in hemodialysis devices
• Dialysis Centers - Blood: Clearance of toxins from blood using an alternative
method to Hemodialysis in patients with chronic renal failure
• Military and Outdoor Recreation: Highly compact, individual water purification
devices used by soldiers to produce drinking water in the field
4
• Hospitals and Other Commercial Facilities: Filtration of water for drinking and
washing
Tell us what makes your company’s culture stand out?
As a small company we rely very heavily on support from third parties, it is
therefore important that our culture and values reflect those of the people we
work with. In other words, do to others as you would have them do to you. Our
company values which ultimately dictate our culture, are as follow:
• Integrity – “Do what is right” Honesty, openness, speak up, transparency
• Passion – “Do it with energy” Drive, ambition, determined to succeed
• Innovation – “Do it differently” creativity and inventiveness that adds value,
not content to copy
• Quality – “Do it to the best of our ability” Precision and excellence in what
we do
• Collaboration – “Do it together” Actively engaged around shared goals
How do you continue to transform the company?
When I joined Nephros one of my first tasks, in collaboration with the Nephros
Board of Directors, was to develop and implement a vision and mission. Everybody
in the Company is aware and aligned with our vision and mission and the strategy
and objectives we have set to take us on the path towards their achievement. It
is critical that we continue to re-visit our vision and mission, continually checking
who we are, where we are headed and checking we are going the right way. If
you do not know where you are going how do you know when you have arrived?
How important is innovation and why?
“Give me a good product with average marketing as opposed to an average product
with good marketing”. The cost of healthcare is rising as the population lives longer.
“Me too” products no longer provide the outcomes the healthcare systems and
more importantly patients demand. Value is created with innovative products.
What inspires you?
I have always enjoyed a big challenge and succeeding against all odds. I recognize
that this cannot be achieved without the help of the team around me. To that end
I am also inspired by helping and watching people grow and develop and achieve
their own stretch goals.
Talk about why liquid purification filters are
important?
There are many circumstances where the purity of the liquid is critical to some
outcome or purpose for what the liquid is being used for. Water is one such liquid
that is used extensively for many reasons. Today’s water is yesterday’s oil; water
is the lifeblood of human existence. Our filters are currently used to filter water
predominantly in dialysis clinics, commercial facilities and for individual water
purification purposes.
To perform hemodialysis, all dialysis clinics have dedicated water purification
systems to produce water and bicarbonate concentrate. Water and bicarbonate
concentrate are essential ingredients for making dialysate, the liquid that removes
TechLifeSciNews | www.njtc.org | June 2014
CORNER
OFFICE
waste material from the blood. We believe that our ultrafilters are important to
dialysis centers because they exceed currently approved and newly proposed
standards for water and bicarbonate concentrate purity.
The military is heavily reliant on the use of bottled water to support its
soldiers in the field. Bottled water is not always available, is very costly to move,
resource intensive, and prone to constant supply disruptions. Our individual water
purification device enables the soldier to instantly filter water from naturally
occurring sources which ensures the warfighter remains hydrated and maintains
operational and significantly reducing the load bearing requirement to extend
their operational area.
The process of filtering blood outside the body using external filters is
known as dialysis. Our filters used in the blood filtration process use a
technique known as mid-dilution Hemodiafiltration (HDF). Currently, in the
U.S., patients with chronic renal failure are dialyzed through Hemodialysis
(HD), a process in which toxins are cleared via diffusion. Hemodiafiltration
(HDF) is an alternative dialysis modality that combines the benefits of HD and
Hemofiltration into a single therapy by clearing toxins using both diffusion
and convection. Clinical experience and literature indicate that HDF has the
potential to provide multiple clinical and patient benefits when compared to
HD. Our modified approach to HDF can be used in conjunction with current
HD dialysis machines. We refer to our approach as online mid-dilution
hemodiafiltration (mid-HDF) and it consists of our OLpur H2H Module and
OLpur MD 220 Hemodiafilter. The OLpur H2H HDF Module and OLpur MD
220 Hemodiafilter are cleared by the U.S. Food and Drug Administration
(FDA) to market for use with an ultrafilter controlled hemodialysis machine
that provides ultrapure dialysate in accordance with current ANSI/AAMI/ISO
standards, for the treatment of patients with chronic renal failure in the United
States. Our on-line mid-dilution HDF system is the only on-line mid-dilution HDF
system of its kind to be cleared by the FDA to date.
How do you keep developing things for the pipeline?
Listening to our current customers enables us to make adjustments and
improvements to our current product offerings. For future developments we aim to
make data driven decisions around market segmentation which will uncover the
markets that our products can be positioned in to meet the unmet needs better
than our competitors. The challenge is to resist moving too quickly into other
markets before we have made an impact in the current markets i.e. remaining
focused and not be side tracked.
Thinking ahead, where do you see
Nephros in the next five years?
We aim to be recognized as a global leader in
providing high performance liquid purification
filters. We expect to have significant sales
with a positive net income through a
global commercial presence. We will
have expanded into other business
segments beyond our current
business segments; we will strengthen our strategic partnerships and become a
fully vertically integrated company. n
P L UG G ED I N
LEGAL
Q
Are landlords and tenants “jointly and severally liable” under
the Industrial Site Recovery Act
(“ISRA”)? Under New Jersey law, may a
landlord or tenant force the other’s hand
to remediate environmental contamination under ISRA?
A
Under ISRA, landlords
and tenants are jointly
and severally liable and
therefore, the New Jersey Department
of Environmental Protection may seek
to enforce liability against either party,
or both. N.J.S.A. 13:1D-1 et seq. ISRA
is a transaction specific law, and the
obligation to remediate is triggered by
myriad events, including certain changes
in ownership and modification of operations involving landlord-tenant relationships. Accordingly, it is critical that liability
for ISRA compliance be spelled out with
precision in leases. For example, the lease
may require landlord to comply with ISRA
where landlord’s business dealings trigger
the ISRA law. Contrastingly, the lease may
require tenant to comply with ISRA upon
a cessation of operations or sale of the
business or assets.
New Jersey law permits a landlord, or the
tenant, as the case may be, to file a formal
petition to NJDEP to enforce lease provisions and compel the party responsible
pursuant to the provisions of the lease, to
comply with ISRA.
You live in a mobile world –
Why shouldn’t your EHR?
With EHRAnywhere™ from ITelagen, your practice can leverage the flexibility and mobility of
iPad and Android Tablet devices. Unlike most EHR mobile applications, that provide limited
functionality, EHRAnywhere™ provides the full EHR application on your mobile device. Get
remote anytime, anywhere access to your EHR – between surgeries, on rounds, or at home. For
all EHR tasks beyond approvals, lab reviews, or consults, with EHRAnywhere, physicians can
now accomplish what they need faster and on the go.
The EHRAnywhere technology compresses the various layers of a desktop, essentially
creating a virtual mobile EHR application, and allows users to connect even when disconnected
from their network. The single sign-on feature of EHRAnywhere provides users with fully secure
and HIPAA compliant access to their EHR applications running simultaneously on various
stationary and mobile devices. Offering scalability, mobility and convenience, the technology
of EHRAnywhere is revolutionary for medical practices. Development of the EHRAnywhere
technology affords medical practices high-performing virtualization of EHR to mobile devices.
The flexibility of traveling from office location to office location or transitioning from one
device to another while maintaining security and compliance ensures maximum productivity
and increased efficiencies.
Powered by EHRAnywhere™ Technology, EHRAnywhere™ from ITelagen® is a virtual
desktop infrastructure solution that simplifies EHR management and provides physicians and
staffmembers with access to their EHR when they need it and wherever they need it. With
EHR access available from a wide variety of mobile devices, and performance optimization to
accommodate practices in even the most remote locations, EHRAnywhere technology delivers
on the promise of a new way to practice medicine.
“With EHRAnywhere for iPad and Android devices, physicians get a win-win combination – a
complete, secure EHR solution they trust, paired with the unique touch interface of the iPad
physicians have come to love in their consumer lives.”, says CEO of ITelagen, John O’Keefe.
“The iPad and Android capability provided by EHRAnywhere will fundamentally change the
way medical practices utilize their EHR.”
What are the benefits?
Marc D. Policastro
is a shareholder at
Giordano, Halleran &
Ciesla, P.C. in the firm’s
Environmental and Real
Estate Departments.
He can be reached at
732-741-3900 or at
[email protected]
6
Reduced Cost of Transcription
EHRAnywhere™ eliminates transcription by speech-enabling your EHR, freeing up resources
to focus more on patients to help practice efficiency. Healthcare organizations that utilize
EHRAnywhere™ can significantly lower their transcription costs.
Reduced Equipment Costs
With EHRAnywhere™, an iPad or Android tablet is all that is needed allowing you to eliminate
the need for computers in your exam rooms.
Improvement in Workflow
You keep both your clinical and financial workflows moving for better patient care and improved
cash flow. You improve your response time to patients so they stay happy, safe, and healthy.
When you’re more productive, so is your practice. And all of these benefits of EHRAnywhere™
can help you achieve goals you may have around Meaningful Use. n
TechLifeSciNews | www.njtc.org | June 2014
Is your company
afraid of
the “D” word?
Debt. It’s not a moral failing. It’s a legitimate business
tool. Businesses use it to grow, seize opportunities,
or just manage their capital flow. EisnerAmper can
show you how to approach debt in ways that are
responsible, conservative, and—best of all—productive.
So you don’t have to think of debt as just another
four-letter word.
Read more about debt at EisnerAmper.com/debt.
Let’s get down to business.® eisneramper.com 732.243.7140
John Pennett [email protected]
P L UGGED I N
Join us as we celebrate this
year’s EY Entrepreneur
Of The Year™ New Jersey
Award finalists.
June 26, 2014
Hyatt Regency New Brunswick
New Brunswick, NJ
New Software Being
Developed to Help Prevent
Traffic Congestion
For the listing of the 2014
New Jersey Finalists please visit
www.ey.com/us/eoy_newjersey.
Recently, the northbound lanes of the Pulaski Skyway have been shut down to replace the
aging span’s bridge deck. While transportation authorities have created alternative routes for the
countless New Jerseyans that take the bridge daily, there will still be major delays.
With the inventible traffic gridlock on the horizon, however, professors at the New Jersey
Institute of Technology (NJIT) in Newark, N.J., have developed software that could prevent
congestion. In a nutshell, the software, which runs through smartphones or embedded
computers, monitors traffic in real-time, and provides proactive, individually-tailored re-routing
guidance to drivers to prevent congestion.
Dr. Chritian Borcea, the chair of NJIT’s online Computer Science masters’ program answered
questions regarding the technology:
Nationally sponsored by
How does the system work?
For tickets, contact
Megan Langone at
[email protected].
We designed and evaluated through realistic simulations (using maps of Brooklyn and Newark)
two systems for vehicular traffic re-routing. The first is centralized in the sense that a traffic
monitoring and re-routing service: collects real-time traffic data from the drivers’ smart phones;
evaluates the possibility of future congestions; and sends individually tailored re-routing
guidance to a number drivers (i.e., to their smart phones) to avoid congestion.
The second system is hybrid in the sense that re-routing computation is divided between the
central service and the smart phones, which also communicate among each other. This system
has two benefits compared to the centralized version: higher scalability and higher privacy
protection. The drivers don’t report their destinations to the central service and their location
is difficult to be tracked.
Regionally sponsored by
Gold sponsors
What are the benefits of the system?
The main benefit is faster travel times for drivers. Our simulation results show that during
congestion periods, our system decreases the average travel time per driver by 2.2 to 4.5 times.
As byproducts, fuel consumption and pollution could be reduced significantly.
Silver sponsors
®
What happens if only a few people actually follow the new suggested route?
The people who follow the new suggested routes will experience the benefit of lower travel
times. If the number of these drivers is very small, then there is no benefit for the other drivers.
However, if the number of drivers who follow the guidance is in the range of 20-30%, then the
average travel time could be decreased by as much as half during congestion periods. This means
that even the drivers who don’t follow the guidance could benefit because their routes become
less crowded (the drivers who follow the guidance have moved elsewhere).
When you think the system will be implemented?
© 2014 Ernst & Young LLP. All Rights Reserved.
8
The system developed at NJIT is currently implemented on PCs (this includes the whole
re-routing computation), and it was tested through simulations. My collaborators at Rutgers
University, led by Prof. Liviu Iftode, have developed an Android version of the re-routing
application and have tested it with 15 cars. From a technical point of view, the only remaining
problem is how to bootstrap the system (i.e., to make it work when few people have it on their
phones). This could be solved by leveraging traffic data reported by other services (e.g., Google)
and applying our re-routing algorithms on these data. n
TechLifeSciNews | www.njtc.org | June 2014
Segmentation for Entrepreneurs
BY ADRIAN TREVISAN
One aspect of the launch of
their product that many
entrepreneurs overlook
is the need to segment
their customers. Not
all customers are the
same and since your
startup most likely has
a limited budget, you
probably need to focus
your efforts and tailor
your product for those
customers who will buy it the
fastest.
So what is segmentation?
Put simply, segmentation
is dividing your customers
into groups with similar
characteristics. You can segment
customers by any characteristics
you want, as long as they 1) affect
sales and 2) can be identified. You can then
prioritize product development options, develop marketing campaigns,
and target your sales force effectively.
Let me give you an example. I recently spoke to one startup that was
developing front-office software for optometrists. They had identified
several benefits that the software could provide, including 1) savings
caused by reduction of front-office staff, 2) software consolidation by
using it to replace multiple existing programs for scheduling and billing,
and 3) expansion by linking advertising in social media to scheduling.
They had decided to focus on savings and were developing a campaign
promoting it as the primary benefit. They had not stopped to consider,
however, that this benefit was only relevant to group practices; since solo
practices generally have only one front-office person, no savings through
headcount reduction would be possible. Narrowing their focus to group
practices reduced the number of sales targets at launch from thousands
to hundreds and allowed them to use a much smaller sales force.
This segmentation proved valuable for them, but what if they had
gone about it more deliberately? They could have started with the three
product benefits and thought about which customer segments each
appealed to. Perhaps promoting the simplification and expansion aspects
to solo practices would have been a better idea because there would be
less competition and a greater number of less-sophisticated customers.
Or perhaps they could have gone to group practices and talked about
how consolidation would allow a front-office person to be redirected
at advertising (exploiting the programs’ social media capabilities). You
should consider questions like these thoroughly before you spend too
much time or effort developing your launch plan. You get the answers by
talking to customers before you start selling to them.
Now that you understand
why you want to segment
your customers, how can you
go about doing it? Get a
piece of paper and write
down all of the different
customer types that
you’ve identified. If
they are different classes
of customers, e.g. gas
stations, doctors’ offices,
and movie theaters, then
this is fairly easy. If they
are the same, e.g. hospitals,
then you need to think about what
subgroups there may be—and as you start
selling you may discover others.
image © icyman
Then draw two columns. In the first write down
what characteristics make each segment different from
the others and in the second which of your product benefits
appeal to them. Will some use lots of your product, while others
use a little? Can some make purchasing decisions quickly, while others
have to pass them through multiple review committees? Do some
customers like the fact that your product is small, while others like that
it is rugged?
Next, think about which of those characteristics you (or your sales
force) will be able to identify and how. Is it something you can look up
online or in a database (like optometrists in group practices), or will you
have to ask each customer qualifying questions? In the example above,
the identity of the group practices was available from a database, but
the sophistication of their online marketing efforts would have had to be
learned by talking to staff in each office. If you’ve identified a potential
segment, but can’t figure out a way to identify if each individual
customer is in it, then it doesn’t make any sense to use it.
Next, think about what it means for you in practical terms. If you’re
selling software to professionals and it turns out that architects and
engineers would find the same product attributes attractive, use the
software the same way, and pay the same amount for it, then is there
any reason to have them in two separate segments? If, not put them
into one segment.
Finally, rank the segments. Depending on your budget, their sale
potential and the difficulty of selling to them, you can now decide
which you’ll target initially and which you’ll leave for later. At most you
should end up with three to five segments, each with characteristics
setting it apart from the others. Any segments beyond five should be
left for a second phase. With a manageable number of customers with
clear characteristics, you can develop your product and tailor your
marketing campaign to speak to them, and develop sales targets that
are realistic. n
Adrian Trevisan, principal of Polydamas, brings fifteen years of healthcare marketing experience in the U.S. and Europe and five years of management consulting
experience in the U.S. to the startup arena. He currently acts as commercial advisor to one healthcare startup and consults with others on a project basis.
TechLifeSciNews | www.njtc.org | June 2014
9
LEGA L EA G L E
Considerations for Technology Companies
to Attract, Motivate and Retain Key Talent
BY MICHELLE CAPEZZA
As technology companies innovate and grow, the need for knowledgeable,
experienced employees increases along with the competition for the
most highly-skilled workers. As a result of the competitive marketplace
(as highlighted by the recent high-tech employee antitrust/anti-poaching
class-action lawsuit settlement involving technology giants), one of
the biggest challenges facing technology companies today concerns
how well it can attract, motivate and retain top talent. In addition to
providing fair and competitive compensation and benefits packages,
companies should not overlook developing employees so that they may
grow professionally and be positioned for movement in the company
to critical positions. Further, review of company culture would also be
beneficial to determine if changes should be made to address diversity,
gender and/or multigenerational issues that can create a more inclusive,
dynamic working environment. Thus, a comprehensive approach can
serve to attract, motivate, develop and retain the best employees while
fostering a culture of growth, loyalty and innovation. Consider the
following in developing a comprehensive approach:
• Identify the areas of expertise your business needs to innovate
and grow and the types of employees that will be necessary to lead
the charge and comprise teams. Develop clear job descriptions with
specific job duties, responsibilities, and reporting lines and identify
the key skills and track record that the person should possess to fill
the position. Consider also how the particular job may evolve within
the not-so-distant future and think long-term about the type of skills
that would be needed as the position evolves (which will also provide
room for the employee to grow and increase their level of responsibility
and compensation). Anticipate that the person you recruit will want to
progress and will have other employment options.
• Consider the dynamics of existing project or department teams.
Assess potential impact of new hires and temporary workers on
workplace and team dynamics. Avoid overburdening staff or failing to
provide adequate resources. Take steps to encourage team building and
a collegial working environment.
• Offer a fair and competitive salary and benefits package for the
position. Take into account corporate culture, industry compensation
statistics, geographical considerations, as well as experience-level
required for the position. Consider appropriate benefits packages which
may include retirement, health and welfare, and insurance programs,
competitive bonus and incentive arrangements, deferred compensation
programs, relocation and fringe benefits. Also, monitor legal trends and
tax reform proposals currently pending in Congress so that compliant
packages can be timely designed and offered.
• Determine whether an employment agreement will be required as
part of the hiring process, as well as the scope of any non-compete,
non-solicitation, restrictive covenants, confidentiality, or trade-secret
agreements. Ensure that such agreements meet the requirements of
applicable law.
• Address timely compliance with any necessary U.S. immigration
requirements if seeking highly-skilled foreign workers.
• Evaluate how flexible and remote working arrangements can
mutually benefit the company and the employees and design programs
accordingly. Offer meaningful leave policies that will enable employees
to handle personal, familial or medical issues without jeopardizing their
positions with the company.
• Invest in the professional development of employees and offer them
opportunities to develop necessary skills. Determine the skills-based
training, leadership training and mentor programs that will develop the
workforce to perform optimally.
• Ensure that performance reviews are objective, constructive and
conducted appropriately. Guide employees to progress and achieve
their goals within the organization.
• Analyze corporate culture and determine whether improvements
can be made to address diversity, gender disparity and multigenerational
issues. Explore ways to promote an inclusive workplace where
employees can share and transfer knowledge, work more productively
together, and receive equal opportunities for advancement and reward.
Foster a culture of excellence.
As advancements in technologies continue to shape businesses and
our world, recruitment and retention of key talent to develop and grow
these businesses is a top priority. Technology companies that invest in
their human resources and develop premier workplaces will stay ahead
of the curve and avoid unwanted turnover. Consideration must be
given to making appropriate hires as well as to developing strategies
for training and promotion from within the organization. It will be
imperative to ensure that competitive compensation programs are in
place to retain the highly sought-after professionals that will become
integral to the organization, all the while safeguarding the company’s
interests in the event that the employment relationship with key players
comes to an end. When employees are appropriately compensated
and rewarded, and provided with equal opportunities to excel and
grow in supportive, collegial environments, they are less likely to seek
opportunities elsewhere and their employers can focus on growing their
businesses. n
Michelle Capezza is an employee benefits and executive compensation attorney and a Member of EpsteinBeckerGreen, resident in their New York office. She can be reached
at [email protected] and 212-351-4774. She also contributes to and serves as chief editor of the Firm’s industry blog found at www.technologycompanycounselor.com
10
TechLifeSciNews | www.njtc.org | June 2014
NJTC CALENDAR OF EVENTS
CFO AWARDS BREAKFAST 2014
see page 9
June 12 • 8:00 am - 10:30 am
Forsgate Country Club
375 Forsgate Drive, Monroe Township, NJ
Members $55.00 • Non-Members $110.00
Keynote Speaker
Tom Edwards, CFO, FieldView Solutions
NJTC announces the Finalists
for the 2014 CFO Awards
Join is to celebrate the accomplishments of these
leading CFOs and Investors.
CFO of the Year Award
Wayne Ackerman, CFO, ATC
Brian Adams, Vice President, Finance, CareKinesis
Ronald Kasner, CFO & General Counsel, iCIMS
For details on the 2014 NJTC CFO Awards
Breakfast visit our website www.njtc.org
MOBILE APPLICATIONS FORUM
see page 15
June 25 • 2:00 PM - 7:00 PM
Princeton University
Friend Center Convocation Room
Princeton, NJ
Members $25.00 • Non-Members $50.00
Incubator/Accelerator Members $35.00
Students $10.00
This half day conference will offer workgroups,
presentations, panel discussions, mobile apps
competition and networking reception. NJTC
will present some of the best applications in
development in the US.
Deal of the Year Award
Thomas Conway, CFO, Amber Road
Ted Kaminer, CFO, Bioclinica
Shane Kovacs, CFO, PTC Therapeutics
Financier of the Year Award
Scott Feldman, Managing Director, Susquehanna
Growth Equity
Mitchell Hollin, Partner, LLR
Thomas McCrohan, Managing Director, Financial
Technology & Payments, Janney
Hall of Fame Award
Chris Downie, CEO, Telx
James Houghton, CFO, OFS
Glenn Tynan, CFO, Curtiss-Wright
NETWORKS
NJTC Industry Networks present programs
about opportunities and challenges facing NJ
technology companies by industry segment.
Electronics, Advanced Materials
& Manufacturing
Patron Sponsors:
Baker & Hostetler LLP
EisnerAmper
Contact:
Paul Frank • Ext 222
[email protected]
Ellen Stein • Ext 228
[email protected]
Enviro-Energy Industry
Patron Sponsors:
Baker & Hostetler LLP
WeiserMazars LLP
Contact:
Paul Frank • Ext 222
[email protected]
Ellen Stein • Ext 228
[email protected]
12
TECHNOLOGY TOURPRIMUS GREEN ENERGY
July 10 • 8:30AM-10:00AM
219 Homestead Road
Hillsborough, NJ
Primus has a fully operational pilot plant located
at its Hillsborough, N.J., headquarters as well as
a100,000 gallon-per-year continuous production
demonstration plant . The existing pilot plant
features both biomass gasification technology and
natural gas reforming, as well as Primus’ proprietary
syngas-to-gasoline (STG+) technology, which have
IT/Software
Patron Sponsor:
BDO
Contact:
Paul Frank • Ext 222
[email protected]
Judy Storck • Ext 246
[email protected]
LifeSci & MedTech
Patron Sponsors:
Drinker Biddle
McGladrey
Contact:
Ellen Stein • Ext 228
[email protected]
Telecommunications/Media
Patron Sponsor:
Verizon New Jersey
Contact:
Paul Frank • Ext 222
[email protected]
Judy Storck • Ext 246
[email protected]
produced high quality, 93-octane gasoline and
chemical samples for testing purposes.
Join us for a tour of both facilities and learn about
Primus Green Energy’s journey from concept to
demonstration stage.
NJTC ANNUAL MEETING
July 17 • 11:00 AM - 2:00 PM
Forsgate Country Club
375 Forsgate Drive,
Monroe Township, NJ
Members $85.00
Thought Leader Table Sponsorship $1,500.00
ATTENTION NJTC MEMBERS . . .
2014 State of the Council presentation providing
an update on past, present and future activities /
benefits
Keynote Speaker—
Keith Cooper, CEO, Connotate, Inc.
This is the perfect opportunity to meet and
network with fellow members. Results of the
Technology Outlook Industry Survey will be
presented by Giordano, Halleran & Ciesla, PC
and WithumSmith+Brown. And our new format
gives you the opportunity to choose your table
seating based on a topic of interest facilitated by
a designated Thought Leader.
For more information on Thought Leader Table
Sponsorships contact: [email protected]
NJTC Peer Networks bring together like-minded
technology professionals to share common issues,
learn best practices and gain perspective across all
technology industry segments.
CEO Forum
Patron Sponsors:
Morgan Lewis
WithumSmith+Brown
Contact:
Karen Lisnyj • Ext 229
[email protected]
CFO Peer Network
Patron Sponsors:
Cresa NJ – North/Central LLC
Ernst & Young, LLP
Contact:
Karen Lisnyj • Ext 229
[email protected]
CIO Peer Network
Patron Sponsors:
Oracle • telx
Contact:
Karen Lisnyj • Ext 229
[email protected]
TechLifeSciNews | www.njtc.org | June 2014
Government Affairs
Contact:
Karen Lisnyj • Ext 229
[email protected]
Software Engineering Leaders
Peer Network
Patron Sponsors:
Sparta Systems
Szaferman, Lakind, Blumstein & Blader, PC
For updated information or
to register for NJTC events,
visit www.njtc.org
SAVE THE DATE
NJTC
LEADERSHIP SUMMIT 2014
October 7 • 7:30 am - 2:30 pm
Conference Center
111 Wood Ave South
Iselin, NJ
The NJTC Leadership Summit is an
opportunity for you to network with your
peers in an atmosphere where everyone
is focused on common goals: becoming
better leaders, taking your company to the
next level, building alliances, promoting
exchange and developing partnerships.
The NJTC Leadership summit is an event
designed specifically for hard-working
executives who care about the success and
future of their businesses. This intensive
one-day event is packed with discussions,
workshops and valuable networking
opportunities you can’t afford to miss.
The NJTC will also present CEO of the Year
Awards to a Public Company CEO,
a Private Company CEO and the President
of a Non-profit or Post-secondary
Educational Institution.
Continue to check www.njtc.org for
complete information about the Leadership
Summit and to nominate a CEO.
NJTC AWARDS CELEBRATION
November 20 • 5:30PM – 10:00PM
Renaissance Woodbridge Hotel,
Iselin, NJ
The Council will recognize and celebrate
New Jersey technology companies and their
leaders for their business accomplishments
in technological collaboration, partnership
and innovation. The Celebration will begin
the evening with a cocktail reception,
Awards presentation, dinner and dessert
buffet. The Celebration is a unique
opportunity to meet colleagues, clients and
prospective clients in a social setting and
to inextricably link your company to the
success of the technology industry in
New Jersey.
Continue to check www.njtc.org for
complete information about the Awards
Celebration and nomination information.
Council Connections
NJTC
BOARD OF DIRECTORS
Chairman of the Board
Simon Nynens, Wayside Technology Group, Inc.
Co-Chair
Virginia Alling, PNC Bank
Board Members
Mel Baiada, BaseCamp Ventures
Maxine Ballen, New Jersey Technology Council
Joel Bloom, New Jersey Institute of Technology
James Bourke, WithumSmith+Brown, PC
Skip Braun, Deloitte
Charlene Brown, AT&T
Leslie Browne, Senesco Technologies, Inc.
Michael Christman, Coriell Institute
for Medical Research
John Clarke, Cardinal Partners
Mark Clifton, SRI Sarnoff Corporation
Steven Cohen, Morgan Lewis
Kathleen Coviello, New Jersey
Economic Development Authority
Saki Dodelson, Achieve3000, Inc.
Patricia Donohue, Mercer County Comm. College
Chris Downie, Telx
Nariman Farvardin, Stevens Institute of Technology
Ronald Gaboury, Yorktel
Mark Giamo, BDO USA, LLP
Andrew Gilbert, DLA Piper
Richard Goldberg, R² Associates
Ian Goldstein, Drinker Biddle
Darren Hammell, Princeton Power Systems
Paul Hoffman, Liberty Science Center
John Houghton, Nephros, Inc.
Brian Hughes, KPMG LLP
Flint Lane, Billtrust (Factor Systems)
John Lanza, McGladrey
John Martinson, Edison Ventures
Dan McGrath, Maloy Risk Services
Stephen Muretta, Ernst & Young LLP
Richard Napoli, ObjectFrontier, Inc.
Gregory Olsen, GHO Ventures, LLC
Kevin Pianko, WeiserMazars LLP
Philip Politziner, EisnerAmper LLP
Ari Rabban, Phone.com
Marianna Rabinovitch, ECI Technology
Jeffrey H. Rosedale, Woodcock Washburn LLP
Douglas Schoenberger, Verizon
Stephen Waldis, Synchronoss Technologies
TechLifeSciNews | www.njtc.org | June 2014
FOUNDER, PRESIDENT & CEO
Maxine Ballen • [email protected]
EXECUTIVE VICE PRESIDENT
Paul A. Frank III • [email protected]
EXECUTIVE ADMINISTRATOR
Karen Lisnyj • [email protected]
MEMBERSHIP RELATIONS MANAGER
Ellen Stein • [email protected]
OFFICE ADMINISTRATION/MEMBERSHIP
SERVICES - CONNECTIONS EDITOR
Judy Storck • [email protected]
EVENTS MANAGER
Meredith Meyer • [email protected]
IT COORDINATOR
Erwin Racimo • [email protected]
ACCOUNTING
Peggy Reeve • [email protected]
NJTC CHARTER MEMBERS
Deloitte
Edison Venture Fund
KPMG LLP
Maloy Risk Services
Morgan Lewis
PNC
NEW JERSEY TECHNOLOGY COUNCIL
www.njtc.org
1001 Briggs Road, Ste 280
Mount Laurel, NJ 08054
856-787-9700
13
NJTC NEW MEMBERS
As of April 2014
INFORMATION TECHNOLOGIES
REM Technology Consulting Services
68 White Street, Ste. 341
Red Bank, NJ 07701
732-834-0088
www.remtcs-secure.com
Richard E. Malinowski, ISACA CRISC Founder, President
[email protected]
Innovative Technologies & Services developed
and engineered to follow three core principles:
Speed, Simplicity, and Security. REMTCS is a
leading management and technology consulting
firm specializing in information systems for
Defense Contractors, Banking, Private Banking,
Wealth and Portfolio Management, Brokerage,
Health Care, Biotech, and Insurance. The
company and its affiliates specialize in “next-gen”
technology developments, artificial intelligences,
robotics, cybernetics, dynamic legal production,
and counter intelligence system design (within the
fields of artificial intelligence to military hardware
modification).
NON-PROFIT
Rutgers Preparatory School
1345 Easton Avenue
Somerset, NJ 08873
732-545-5600
http://rutgersprep.org
Kevin Merges,
Director of Innovation Center
[email protected]
Rutgers Preparatory School is the oldest school
in New Jersey. Founded in 1766, Rutgers Prep
has been a leader in education for more than two
centuries.
TELECOMMUNICATIONS
Gaw Associates Inc. (GTI)
670 Deer Road
Cherry Hill, NJ 08034
877-429-7225
http://www.GawTechnology.com
Kathy Gaw-Betz, CEO - [email protected]
Gaw Associates, founded in 1990 is a woman
owned manufacturer and supplier of server rack
cabinets and accessories for data centers and
control rooms including training tables and
consoles, cable assemblies and cable management.
We are TL9000 certified.
Juniper Networks • www.juniper.net
Maintech (a div of VOLT) • www.maintech.com
McCarter & English LLP • www.mccarter.com
Monmouth University • www.monmouth.edu
Nanobiz LLC • www.nanobizllc.com
New Jersey Manufacturing Extension Program,
Inc. www.njmep.org
NOBEL Computer Systems, Inc.
www.nobelsystems.com
paSafeShare LLC • /www.pasafeshare.com
PD-LD Inc. • www.pd-ld.com
PortaScience Inc. • www.portascience.com
Primus Green Energy • www.primusge.com
Princeton Wealth Advisors of Raymond James
www.princetonwealthadvisors.com
QUALCOMM • www.qualcomm.com
Rothman Institute of Entrepreneurship
www.fdu.edu/rothman
SRI International • www.sri.com
Stevens & Lee • www.stevenslee.com
Szaferman, Lakind, Blumstein & Blader, PC]
www.szaferman.com
Telavance, Inc. • www.telavance.com
The College of New Jersey • www.tcnj.edu
Universal Display Corporation
www.universaldisplay.com
RENEWALS
SmartLinx Solutions LLC
345 Union Hill Road
Manalapan, NJ 07726
732-851-4433
www.smartlinxsolutions.com
William Erosh, VP of Finance
[email protected]
Development of end to end solutions for human
capital management, with focus in the healthcare,
government and leisure services industries.
Veeam Software Corporation
2520 Northwinds Parkway, Ste 600
Alpharetta, GA 30009
678-330-2590
www.veeam.com
Lindsay Sweeney, Field Events Marketing Manager
[email protected]
Veeam is Protection for the Modern Datacenter™
– providing local government and educational
institutes with powerful, easy-to-use and affordable
solutions that are Built for Virtualization™ and
the Cloud.
Acolyte Industries • www.acolyteled.com
AJ Infosolutions
Allweb Technologies, Inc.
www.allwebtechnologies.com
Audible.com • www.audible.com
AWT Private Investments
www.awtprivateinvestments.com
Bezwada Biomedical, LLC
www.bezwadabiomedical.com
bonniej graphic design, inc.
www.bonniejdesign.com
CBIZ Valuation Group, LLC
www.cbizvaluation.com
Datacore Systems, Inc.
www.datacoresystems.com
Dentons • www.www.dentons.com
E-Aspire IT, LLC • www.e-aspireit.com
Emerald Stage2 Ventures • www.s2vc.com
Epstein Becker & Green, P.C.
www.ebglaw.com
ff Venture Capital • www.ffventure.com
GlobaLinking INTERNATIONAL
www.globalinking.com
Gunter Media Group
www.guntermediagroup.com
Helios Products, LLC • www.heliosproducts.com
Joining the NJTC Paul Frank • Ext 222 • [email protected]
Membership Services Judy Storck • Ext 246 • [email protected]
Member Relations Manager Ellen Stein • Ext 228 • [email protected]
14
TechLifeSciNews | www.njtc.org | June 2014
Taking Speech Therapy Online:
A Technology Journey to Integrate
the App and Online Experience
for People with Aphasia
BY LISA HAYNES, MS, CCC-SLP
backed material. From there, we mapped out
As a pilot for Eastern Airlines and an owner
of his own private jet company, Vahan Khoyan
the design, taking into consideration how it
traveled the world. He was a Federal Aviation
needs to look in order to perform well for the
Administration Inspector and oversaw dozens
person with aphasia. For example, auditory
of flights around the globe. He was shopping
or visual cues might be needed for a positive
in Home Depot when he had his stroke. Vahan
and effective experience. Once we established
recovered from the stroke, but was diagnosed
a functional design, we tested it with people
with the communication disorder called aphasia.
with aphasia at various skills levels to ensure
2011 - C
ontent for TalkPath
Vahan joined the more than one million
accuracy.
apps developed
Americans who have aphasia. It’s generally
In the end, we built content in the four areas
acquired following a stroke or traumatic brain
of speech-recovering skills: reading, writing,
2012 - T alkPath Apps launched
injury and can cause difficultly speaking, reading,
speaking, and listening. We selected these skill
and writing. Vahan’s aphasia made it challenging
sets because they are proven to be effective at
2013 - TalkPath Online
for him to speak and read. For many years he
improving speech.
Speech Therapy
could say only a few words, and his options for
developed (separate
therapy were limited.
Easily Accessible
platform from apps)
In America if you have a speech disorder,
The aphasic population is typically an older
like aphasia, you work with a speech-language
demographic. Although more and more people
2014 - TalkPath Online
pathologist (SLP) to receive speech therapy. In
diagnosed with aphasia are tech-savvy, our goal
Speech Therapy
a typical session, an SLP will conduct various
was to build the solution on technology that
integration (unified
speech therapy exercises intended to rebuild
would be accessible to the most people (see
online/app experience)
specific language skills. Most insurance plans
sidebar for a complete history of TalkPath).
cover these therapy sessions up to a certain cap,
Personal computers and iPads are common
after which, additional sessions require out-ofhousehold items, but many older adults may
pocket expenses. Vahan had traditional speech therapy, but encountered only have one or the other. We recognized this, so we set out to create
problems when his insurance coverage for therapy ran out.
the solution on the iPad and a home computer. To make it available to
Unfortunately, this is a situation many adults run into, as their cap the masses, we set up the app to be useable on an iPad with or without
is often reached before they receive adequate treatment. As a result, an Internet connection or a home computer with Internet. In fact, users
patients like Vahan are left without treatment options, potentially who have an iPad and a home computer can sync their data between the
causing lingering communication deficits, language regression, and two devices when connected to the Internet.
social isolation.
At Lingraphica, we recognize this increasingly common situation
for adults, and are seeking solutions to help. With a background in
healthcare technology and three decades of aphasia research, we created
an online speech therapy platform to provide people with aphasia and
related disorders a long-term, affordable speech therapy solution.
The History of
TalkPath Online
Speech Therapy
Incorporating Standards
into TalkPath
Bridging Gaps with Technology
Today, patients and their SLPs can go to the TalkPath Online Speech
Therapy website (therapy.aphasia.com), create an account, connect
with each other, and work together or independently on more than
4,600 speech therapy exercises.
What users to the site will never see are the strategic clinical and
technological issues that were seamlessly integrated into the TalkPath
platform including, content, accessibility, and reporting.
Content is King
One can have the best online solution, but if the content isn’t engaging,
no one will sign up. The challenge is developing therapy exercises,
specific to an online solution, which can be presented in a meaningful
way for someone with aphasia, while still achieving the clinical goals of
the platform.
In selecting the content for our exercises, we turned to our research-
16
Each exercise in TalkPath Online Speech Therapy has varying levels
of difficulty, which automatically adjust based on performance, or
that can be set to be manually adjusted. These levels of difficultly
correspond to the various levels within the NOMS scale, which is
the industry standard for assessing patient progress. NOMS is the
American Speech-Language-Hearing Association’s certified grading
scale. It can help clinicians with caseload planning and management,
as well as functional goal writing. Additionally, it supports the need
for speech therapy by demonstrating an effective grading scale
universally accepted by SLPs. NOMS is the most powerful way to
support speech therapy as a viable treatment option for adults with
a speech disorder.
TechLifeSciNews | www.njtc.org | June 2014
Reporting the Data
Although content and accessibility
were driven primarily by the needs
of the patient, the TalkPath platform
was also built as a tool for SLPs to
incorporate into their practices. As
such, monitoring patient progress,
capturing information, storing this
data for later analysis, and robust
reporting mechanisms were critical.
More often than not, SLPs send
patients home with worksheets or
workbooks to practice their speech.
With nothing more than a grading
scale for the worksheet an SLP has
no visibility into their patients’ practice or
improvement outside of the session. With
our solution we focused on building detailed
activity and progress reports. SLPs can analyze
their patients’ success on a daily, weekly, and
monthly basis and use these results to modify
their patients’ plans. Additionally, patients also
have the ability to view reports and see
how they are performing.
Shaping the Future
So what does the future hold for our
new TalkPath Speech Therapy app and
online platform? The integrated app
and online platform boast more than
4,600 reading, writing, speaking, and
listening exercises geared to improve
and rebuild critical speech skills.
Accessible anywhere, anytime, users
can practice online from their home
computer or offline with their iPad.
SLPs can be assured this solution is
clinically sound.
Online therapy services are the way
of the future, especially as the gap
between healthcare and technology
continues to shrink. We are currently
conducting a pilot study for an online
teletherapy solution that will enable
clinicians to treat patients remotely
using our TalkPath Online Speech
Therapy platform, with live therapist
interaction via video conferencing. For
Lingraphica, we continue to push the
limits of technology and innovate in
new ways to close that gap for people
with aphasia. n
Lisa Haynes, MS, CCC-SLP, is the Manager of Clinical Affairs for Princeton-based healthcare
technology firm, Lingraphica. As a certified speech-language pathologist and Alternative and
Augmentative Communication specialist she oversees the company’s clinical programs and offerings.
TechLifeSciNews | www.njtc.org | June 2014
TAKE A SEED OF AN
IDEA AND WATCH
IT GROW INTO A
THRIVING BUSINESS
The professionals at WS+B who dedicate
themselves to servicing clients in the New
Jersey tech space are passionate about
helping bright entrepreneurs achieve their
dreams.
Like you, we believe there is nothing
more exciting than taking the seed of an
idea and watching it grow into a thriving
business. Whether in startup phase or as
an established company, our professionals
have a unique understanding of this
space, and will work with you as a
strategic partner throughout your journey
of growth and success.
Jim Bourke, CPA.CITP, CFF, CGMA
Partner, Practice Leader
Technology Services
732.842.3113 • [email protected]
Chris DeMayo, CPA, MBA
Team Leader
Startup and Emerging Growth Services
973.898.9494 • [email protected]
withum.com
17
HOW INNOVATIVE mHEALTH APPS
ARE TRANSFORMING PATIENT CARE
BY TORI COONS, OBJECTFRONTIER SOFTWARE
T
hese days, your smartphone fulfills many roles beyond just
being a medium for conversation. It is your personal assistant,
your calendar, your DJ, your TV, your camera, your library,
your navigator, your researcher, and the list goes on… Ever
wonder if the role of “doctor” could be added to that list? It
sounds like a far stretch, but in reality, the latest mHealth apps
are doing some truly remarkable things to help reduce or eliminate
inconvenient and lengthy trips to the doctor, hospital, or lab as well
as to improve personalized patient care. Through better and smarter
mobile technology, patients will start to see entirely new methods of
delivering patient care – through digital means.
Just look around and it’s easy to see how our world is quickly becoming
digital, with businesses and consumers embracing smartphones, tablets,
and mobile apps in their personal and professional lives. However,
it is not just that our world is becoming digitized, with data being
converted to digital form, and business processes and interactions now
be conducted via digital device. In fact, digital is having a much deeper
impact on our world.
Digital creates entirely new ways to provide new value to customers
of businesses in every industry.1 It is not just through mobile devices,
but also through social, cloud, and data analytics technologies that
companies are able to create truly innovative, original digital offerings.
These days, compelling software is not simply a “nice-to-have” feature
18
in business. Rather, great digital offerings are now table stakes to even
compete in today’s world.
Look no further than the effects of mobile banking on the financial
services industry to see how mobile technology can quickly spread and
disrupt the daily expectations of customers in an industry. Healthcare
is beginning to experience this disruption as well, as more and more
mHealth apps with a tangible benefit to the health of users are now
being developed by businesses and being desired by patients.
Recent apps such as the following exemplify innovative uses of mobile
technology which can and will disrupt the status quo in the healthcare:
1. An App to Manage Diabetes – BlueStar will soon be the first
prescription-only app released in the US, as the FDA deems it so
impactful to require a doctor’s permission for use.2 The app will help
patients manage their type 2 diabetes through real-time coaching and
support on lifestyle and medication changes based on users’ bloodsugar levels, diet, and exercise. Delivering this type of care through a
mobile device means patients can receive individualized attention 24/7,
giving them a better chance at effecting long-term change in their lives.
2. An App to Treat Vision Problems – Caterna Vision Therapy is a
prescription-only mobile app out of Germany to treat the vision problem
amblyopia in children.3 It provides eye-training exercises to strengthen
their weaker eye through therapeutic light stimuli on a mobile device
screen. These vision treatment exercises require no recurrent visits with
TechLifeSciNews | www.njtc.org | June 2014
an expensive specialist, but rather can be experienced from the comfort
of a patient’s home and at the patient’s convenience.
3. An App To Test Your Blood – Created by Qloudlab Technology,
this soon-to-be-released technology is specifically designed for patients
undergoing anticoagulant treatments to prevent blood clots.4 Patients
first place a disposable plastic film on top of a mobile device’s screen
and then put one drop of their blood on it. The app uses the device’s
touchscreen technology to detect a variation of changes in the blood
sample, recording any disruptions it finds and sharing it instantly with
the user’s doctor. Instead of traveling to a lab or hospital every few days
for the blood monitoring, these patients can now perform the test at
home within a few minutes thanks to this groundbreaking app.
4. Apps to Track Sleep Patterns – An astonishing 113 million
people in America describe themselves as “sleep concerned”, meaning
they have trouble getting a restful night’s sleep.5 Rather than paying
for an expensive, uncomfortable sleep study, new, convenient ways
of tracking sleep with
wristbands and bedding,
such as aXbo and Beddit,
which integrate with
your mobile device, are
providing an easier and
much cheaper way for
concerned sleepers to
receive valuable data on
their sleep habits.6
5. An App to Diagnose
Diseases and Infections
– Colorimetrix utilizes
commercially available,
inexpensive colorimetric
test strips that diagnose
a range of illnesses
including diabetes, kidney
disease, and UTI’s.7
Usually, an expensive lab
spectrophotometer and
technician are needed to
read the results. However,
with this app, users can simply perform the test themselves, testing
their urine, saliva, or other bodily fluid with the strip, and then taking a
picture of it with their phone. The app analyzes the photo by evaluating
the colors and comparing them with a pre-recorded calibration. It
then displays a numerical value for the result, which it stores, sends to
doctors, and uses to give a diagnosis.
These apps are providing new ways of care for patients outside of
the traditional physician/hospital treatment. With smartphones now in
the hands of 58% of American adults (and 83% of millennials), mobile
devices provide a unique opportunity to deliver individualized health
monitoring, support, and treatment ever at the fingertips of patients.8
No longer will they have to travel to their doctor, hospital, or lab every
time they need a blood test, sleep study, or routine treatment if they
can perform it digitally themselves. And with the abilities of big data
analytics, which can analyze millions upon millions of bits of random
information, mHealth apps have the potential to act with intelligence to
accurately diagnose conditions and prescribe the best course of care for
patients as these abilities are fine-tuned in the near future.
mHealth apps help put control back in patients’ hands and provide
a more convenient and personalized healthcare experience that is
based on the individual, including their medical history, vital signs,
medications, diet, exercise, and treatment regimen. However, creating
good, quality mHealth apps is far from easy, as an app must be both
effective in its intended purpose and compelling and engaging enough
to be embraced and used by patients. It must be connected and
communicative with other healthcare systems and data, and it must
be as accurate as dealing with a real-life doctor if it is to be trusted by
patients.9
Currently, though, the majority of mHealth apps on the market do
not achieve all these aims. Building good healthcare software is very
difficult and requires not only a knowledge of the healthcare domain
but also a product development focus and agile methodology in order
to create commercial-grade software. Anyone can build software, but
commercial-grade software is architected for long-term use, built using
an agile method to respond quickly to change, designed with an engaging
UI, tested for proper functionality and user acceptance, and connected
into your existing software systems. All of these aspects combine to
create not simply an app,
but a worthy product that
will actually be purchased
and used to help people.
Well-functioning mHealth
apps require the same
expertise that any good
software product needs
to be sold successfully
in a market. Fortunately
there are a number of
professional
software
product
engineering
firms that have emerged
who can properly execute
mHealth initiatives.
With recent estimates
predicting the mHealth
app
services
market
will reach $26 billion
by 2017, mHealth apps
are poised to deliver a
massive disruption to the
healthcare industry.10 Mobile technology provides an optimum channel
for delivering non-stop, convenient, individualized, and intelligent
care to patients, and innovators will find unbelievable ways to use it
to prevent, diagnose, manage, and treat illnesses. Those who handle
their apps like a product will be the ones to truly capitalize on this
emerging, explosive market, as they create cutting-edge, commercialgrade software that will forever transform patient care. n
1. McQuivey, James. Digital Disruption. Cambridge, MA: Forrester Research, 2013.
2. BlueStar Diabetes. http://www.bluestardiabetes.com/
3. Caterna Vision Therapy. http://caterna.de/en/
4. Qloudlab Technologies. http://qloudlab.com/
5. McQuivey, James. Digital Disruption. Cambridge, MA: Forrester Research, 2013.
6. aXbo. http://www.axbo.com/pages/home Beddit. http://www.beddit.com/
7. Colorimetrix. http://www.cam.ac.uk/research/news/pocket-diagnosis
8. “Mobile Technology Fact Sheet.” Pew Research Centers Internet American Life
Project. http://pewinternet.org/fact-sheets/mobile-technology-fact-sheet/
9. “Wasden: We Have Created an Ecosystem of Useless Apps.” ACO News. http://
accountablecaremedia.com/wasden-we-have-created-an-ecosystem-of-useless-apps/
10. “Global Mobile Health Market Report 2013-2014.” Research2guidance. http://
research2guidance.com/the-market-for-mhealth-app-services-will-reach-26-billion-by-2017/
Tori Coons is a marketing content specialist for ObjectFrontier Software. She blogs on all the latest software trends for OFS at info.objectfrontier.com/blog.
TechLifeSciNews | www.njtc.org | June 2014
19
E DUCATION
S. David Kimball (left)
recruited David Augeri
from Big Pharma for
Rutgers’ new Office of
Translational Science.
A Game-Changer for Industry Collaboration
in Life Sciences at Rutgers
20
TechLifeSciNews | www.njtc.org | June 2014
E
ven casual observers of the pharmaceutical industry
have seen the dramatic shifts and changes in direction
that have occurred in recent years. Those of us who have
worked in Big Pharma and biotech have borne witness
to these dislocations and many in New Jersey have
experienced them firsthand.
At the same time our state has been losing thousands of jobs in
pharma, there has been a quiet blossoming of life sciences startups.
According to BioNJ, New Jersey’s life sciences trade association, there
were just 80 biotechs in our state in 1998 and today there are more
than 360.
BioNJ President Debbie Hart says: “Biotech startups are becoming
increasingly vital contributors to our state’s economy.While these companies
start out small, they often bloom into very significant businesses.”
Most biotechs are founded on scientific discoveries or inventions.
Often the intellectual fuel for a startup comes from a university.
One of Rutgers’ greatest successes is TYRX Inc., a biotech in
Monmouth Junction that developed an antibacterial envelope for
implantable devices such as pacemakers. The FDA recently approved
this technology and Medtronic purchased TYRX for more than $160
million. TYRX was launched by Joachim Kohn, professor of chemistry
and chemical biology at Rutgers, and was sustained by the university
during its early years.
With the goal of helping our scientific and engineering faculty
create startups in the life sciences, last fall we launched the Office of
Translational Science (ots.rutgers.edu). A key reason is the huge leap
forward the university made last summer when Rutgers integrated most
of the University of Medicine and Dentistry of New Jersey (UMDNJ),
creating one of the nation’s largest academic medical centers. Among
the benefits are expanded research in the life sciences and the addition
of many outstanding medical researchers, who are now working
alongside colleagues in the basic sciences. Rutgers now boasts $744
million annually in R&D spending, which ranks among the top 30 U.S.
universities, and we’ve seen significant growth in our intellectual property
portfolio. Last year Rutgers received 61 U.S. patents, more than twice the
annual average of patents for the university. And our professors’ work led
to the creation of 10 startups last year, the most in 18 years.
As a result of the New Jersey Medical and Health Sciences Education
Restructuring Act, which became effective last July 1, Rutgers now
has two medical schools, a dental school, and other new schools and
labs that further diversified the university. The added breadth fosters
collaboration, such as interdisciplinary research among medicine,
chemistry and chemical biology, engineering and the Ernest Mario
School of Pharmacy.
Dr. Chris Molloy, who is Rutgers senior vice president for research and
economic development, calls the integration “a game-changing event.”
“It’s forced us to rethink our systems universitywide, particularly how
we work with industry,” he said. “As a result, the Office of Translational
Science is not encumbered by an entrenched bureaucracy. For that
reason, and because the team is composed of scientists from the private
sector, I’m expecting great things from them.”
OTS provides the venue for the interface between Rutgers and the
private sector, building collaboration across the molecular, structural,
imaging and biomedical sciences. Our team includes other scientists with
extensive pharmaceutical industry experience and accomplishments.
Dr. David Augeri is director of the Translational Synthesis Group, and
Dr. Edward Yurkow is executive director of the Molecular Imaging
Center. Our efforts in working with Rutgers faculty are directed
towards building success in their university research, as well assisting
local biotech and biomedical companies. For example, we are working
with Mito BioPharm, a local startup, on candidate compounds that may
provide better methods for treating metabolic diseases such as diabetes
and obesity. Also, we have five projects underway with researchers at the
Cancer Institute of New Jersey.
We have created the Rutgers Biomedical Research Consortium,
comprising the university’s biomedical capabilities and outside academic
and industrial collaborators. Our unit belongs to the Academic Drug
Discovery Consortium (www.addconsortium.org), which includes
more than 100 centers, mostly at U.S. universities, including Penn,
Stanford and Vanderbilt.
We invite anyone interested to contact us at 848-445-5520 or
[email protected]. n
S. David Kimball is an associate vice president in the Office of Research and Economic Development (businessportal.rutgers.edu) and research professor
of pharmacy. After earning a doctorate from Stony Brook University in 1982, he joined the Squibb Institute for Medical Research. Kimball became a
vice president at Lexicon Pharmaceuticals in 2001, then senior VP at Pharmacopeia in 2007. He was chief scientific officer at Hydra Biosciences form
2008 to 2011, when he joined Rutgers. His research includes work on novel treatments in cardiovascular diseases, neuroscience and oncology.
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TechLifeSciNews | www.njtc.org | June 2014
21
International
Opportunities for
Mid Atlantic
Clean Tech, IT and
Telecom Companies
On April 10th, representatives of 23 foreign
governments and international organizations
joined us at BakerHostetler LLP in New York City
to view presentations from companies interested
in promoting, licensing and developing their
CleanTech, IT and Telecom solutions in the
international marketplace. Attendees heard
first hand from several companies that have
experienced international success.
Innovators in Science:
Cancer Research
1
The series highlighted cutting edge commercial life
science centered innovation and technologies. Our
mission is to spotlight groundbreaking researchers and
entrepreneurs as they share their work and discoveries
with a multidisciplinary and diverse audience and
network members of the regional technology and life
sciences community
Photo 1: L -R: Maxine Ballen, President & CEO, NJTC;
Dr. Shridar Ganesan, MD, PhD; Robert DiPaola,
Director, CINJ, RWJMS; Elizabeth Christopherson,
President & CEO the Rita Allen Foundation.
Photo 2: L -R: Dr. Shridar Ganesan, MD, PhD, Assoc Dir
for Translational Science and Dir of Functional
Genomics Shared Resource at the Cancer Institute
of New Jersey Associate Professor of Medicine
and Pharmacology Robert Wood Johnson Medical
School Rutgers, The State University of New
Jersey Rutgers Cancer Institute of New Jersey;
Elizabeth Christopherson, President & CEO, the
Rita Allen Foundation; Dr. Raul Rabadan, Assistant
Professor, Department of Systems Biology and the
Department of Biomedical Informatics, Columbia
University College of Physicians and Surgeons.
2
CEO Forum
CEO Forum presents The Four Key
Drivers of Growth Discussion by
Chris Kuenne, founder of Rosetta
and Rosemark Capital Group
L-R CEO FORUM SPONSOR Jim
Bourke, Partner, WithumSmith+Brow;
KEYNOTE SPEAKER Chris Kuenne,
Founder, Rosetta & Rosemark Capital
Group; CEO FORUM SPONSOR Steve
Cohen, Partner, Morgan Lewis.jpg
SIGNATURE
EVENTS
CFO AWARDS BREAKFAST
NJTC FINTECH CONFERENCE
June 3, 2014 • Jersey City
presents...
REGISTER AT WWW.NJTC.ORG
22
A Tale of Two Perspectives - Wall Street and Main
Street: The NJTC FinTech Conference will address
the needs of the growing financial sectors as
they seek to develop and implement an effective
FinTech framework. Discussions will cover the
Company’s and Buyer’s perspective of both Wall
Street and Main Street.
TechLifeSciNews | www.njtc.org | June 2014
June 12, 2014 • Monroe, NJ
The 2014 CFO Awards Breakfast, an annual event
recognizing the accomplishments of financial
executives from our region’s diverse technology
community. NJTC is pleased to honor and celebrate
the outstanding contributions of these leading
CFOs/Investors.
AWARDS ARE PRESENTED IN FOUR CATEGORIES:
CFO of the Year • Financier of the Year
Deal of Year • Hall of Fame Award
NJTC PHOTO GALLERY
Technology Tour Princeton Plasma
Physics Lab
NJTC attendees participated in a tour of the Princeton
Plasma Physics Laboratory, a world-class fusion energy
research laboratory operated by the Department of
Energy and dedicated to developing the scientific and
technological knowledge base for fusion energy as a
safe, economical and environmentally attractive energy
source for the world’s long-term energy requirements.
The presenters for the Energy Storage Workgroup
included Dunbar Birnie, Professor in Ceramic Engineering,
Rutgers University; Assemblyman Upendra Chivukula,
Deputy Speaker, NJ State Assembly, Eva Gardow, Senior
Engineer, FirstEnergy, and Dr. Harch Gill, President, PARS
Energy, LLC
MOBILE APPS FORUM
NJTC ANNUAL MEETING
Building applications for wireless, mobile Internet
and broadband services is one of the most exciting
areas of development in the technology arena.
The New Jersey Technology Council looks to foster
this innovation in the region so that developers,
entrepreneurs, market leaders and investors can
come together to discuss strategic direction,
showcase and share their ideas and connect with
resources and partners. We will present some of the
best applications in development in the US.
Keynote Speaker
Keith Cooper, CEO, Connotate, Inc.
June 25, 2014 • Princeton
July 17, 2014, 2014 • Monroe, NJ
This is the perfect opportunity to meet and network
with fellow members. Results of the Technology
Outlook Industry Survey will be presented by Giordano,
Halleran & Ciesla, PC and WithumSmith+Brown.
And our new format gives you the opportunity to
choose your table seating based on a topic of interest
facilitated by a designated Discussion Leader.
MARK YOUR
CALENDAR
TODAY!
REGISTER AT
WWW.NJTC.ORG
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