Biotrial

Project Description 

A $30,000,000, 60,500 sq. ft. office and clinical research facility development projectlocated in Newark, NJ, within 15 miles of three major NY international airports (including Newark Liberty International Airport, EWR) and about 10 miles from Manhattan, easily accessible via all major highways and by public transportation (Newark Amtrak Penn Station, buses and light rail). It is also close to the largest pharmaceutical and biotech companies in the world located in the New Jersey “pharmacorridor”.

The project is sponsored by Biotrial S.A.S., a multinational company founded in 1989 and headquartered in Rennes, France with additional operations in London, Brussels and Montreal (www.biotrial.com). The Newark facility will serve as Biotrial’s North America headquarters. Biotrial’s clients are the most prominent pharmaceutical companies in the world. The company specializes in Phase I pharmacological studies in humans, among other research activities supporting drug development needs of its customers. Phase I studies are a critical step in the process of getting FDA and international regulatory agency approval for new drug treatments.

The modern, state-of-the-art building is more than 50% constructed and is expected to be completed and ready for occupancy in the fourth quarter of 2015, with the first Phase I and Bioequivalence Studies to be performed before the end of the year. The building will be 100% owned and occupied by Biotrialunder a lease arrangement between its wholly owned US subsidiaries.

The project is financed in part with a construction facility provided by the Prudential Insurance Company of America. When completed and in operation, the project’s economic impact study projects the creation of 231 direct, indirect and induced jobs further strengthening the local economy.

The project is situated the heart of the University Heights Science Park next to Rutgers/New Jersey Medical School campus and the University Hospital in Newark, NJ. Biotrial and the hospital have plans to share resources, conduct joint studies and collaborate in broad pharmaceutical research.  

The project has had ample support from the local and state authorities and is a welcome addition to Newark’s growing corporate headquarters landscape. The city is home to many other major companies that are headquartered there, including Prudential Financial, Inc. (www.prudential.com)founded in Newark in 1875 and which is currently building a new tower in the heart of town,IDT Corporation, New Jersey Transit, Public Service Enterprise Group (PSEG), Manischewitz, Horizon Blue Cross and Blue Shield of New Jersey and Audible.com.  In 2013, Panasonic moved its North American headquarters to a new 250,000 sq. ft.  office building in Newark.

Further information about the project progress can be found in the public domain:

http://www.njit.edu/news/2014/2014-385.php

http://www.biotrial.com/news/biotrial-celebrates-the-mid-point-in-construction-of-their-us-headquarters.html

This project description is presented for informational purposes only and does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, including, without limitation, in any company or project, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever, nor shall there be any offer or sale of any shares or securities in any jurisdiction where such offer, solicitation or sale is not permitted. Any such offer or solicitation will be made only by means of a related confidential Private Placement Memorandum and other documents, as evidenced by a properly executed subscription agreement, and in accordance with the terms of all applicable securities and other laws.

 

None of the information or analyses presented are intended to form the basis for any investment decision, and no specific recommendations are intended. Accordingly, this project description does not constitute investment advice or counsel or solicitation for investment in any security.

 

Presenting party, project sponsor and the sponsoring EB-5 Regional Center and their affiliates disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained herein, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.

Project Renderings