SBDC Clients Named Finalists and Winner in Ernst Young Entrepreneur of the Year
August 12, 2015 (Newark, NJ) – Two small business clients of America’s SBDC New Jersey, President and CEO Brian A. Leuthner of Edge Therapeutics, Inc. and Founder and CEO Dr. Pankaj Mohan of Oncobiologics Inc., were named finalists in the Ernst Young Entrepreneur of the Year (2015) New Jersey. Leuthner of Edge Therapeutics advanced to be one of several winners of this prestigious award. The award program is co-sponsored by The Kauffman Foundation.
Edge Therapeutics, a clinical-stage biotechnology company discovers, develops and seeks to commercialize novel, hospital-based therapies for acute, life-threatening neurological conditions. A former client of the NJSBDC’s Technology Commercialization program, the company was NJSBDC’s success award winner in December 2011. The company was launched in 2009 and developed technology to produce products that treat acute and debilitating neurological conditions. With NJSBDC’s past assistance and support, the company received more than $800,000 in federal and state funding. The seed funding helped the company to advance its mission and vision, attracting additional private equity financing.
Research and development firm Oncobiologics, Inc. – headquartered in Cranbury NJ – develops low cost innovative oncology and immunology biopharmaceutical treatments for cancer patients. As a past small business client of the NJSBDC at Raritan Valley Community College, the Center assisted the firm in a few key business operational areas, including business planning, human resources and obtaining financing. In June 2011, the firm received a $1 million Small Business Administration (SBA) backed term loan through a community bank with the assistance of the NJSBDC at Raritan Valley Community College (RVCC).
Like Brian Leuthner, Pankaj Mohan was also recognized as one of NJSBDC network’s 2011 Small Business Growth success award winners. Mohan acknowledged that the SBDC program’s guidance in key areas came at a critical time during the development of his company to launch cancer therapy at low cost.
“Our center at RVCC is glad to see that Dr. Mohan and his firm Oncobiologics, Inc. is growing,” said Bill Harnden, regional center director at NJSBDC of Raritan Valley Community College. “We’re always here to support his firm’s needs.”
“Dr. Mohan invited us to participate at the opening of his offices just a few years ago,” said NJSBDC network Chief Operating Officer and Associate State Director Deborah Smarth. “It’s heartening to see how both Dr. Mohan and Brian Leuthner have persevered, advancing and growing their companies in fields that are greatly beneficial to people’s health and well-being. We’re glad that our program helped them along the road to success.”
“These success stories really mean a great deal to our network and staff,” said NJSBDC network Chief Executive Officer and State Director Brenda Hopper. “These growth stories are terrific and motivate our network to do even more for small businesses that come to us throughout the year for our assistance.”
About America’s SBDC New Jersey (NJSBDC)
The New Jersey Small Business Development Centers network, composed of 12 centers headquartered at higher education institutions, provides comprehensive services and programs for small business in New Jersey, helping businesses expand their operations, manage their growth, or start new ventures. Expert staff and practicing business consultants help small business owners and entrepreneurs to develop business plans, find financing, accounting and financial analysis, identify new markets, initiate marketing strategies, find procurement and international trade opportunities, commercialize technology and develop an E-commerce presence. This non-profit network, a federal-state-educational partnership, leverages funding from the U.S. Small Business Administration (SBA), the N.J. Business Action Center, and other private sponsorships and additional grants. The NJSBDC Headquarters, located at the Rutgers Business School in Newark, NJ, oversees the network which is an accredited member of America’s SBDC. Approximately 1,000 centers and satellite offices serve small businesses across the country, generating jobs and economic development. Visit www.njsbdc.com.