MAYOR BOOKER CUTS RIBBON TO OPEN CGC GENETICS, INC.;

PORTUGUESE-BASED GENETIC TESTING COMPANY WILL MAKE NEWARK ITS UNITED STATES HEADQUARTERS

City of Newark and Brick City Development Corporation attract international business that will partner with Institute of Genomic Medicine at UMDNJ for research opportunities


Newark, NJ - April 1, 2010 - Mayor Cory A. Booker, East Ward Council Member Augusto Amador, Deputy Mayor of Economic and Housing Development Stefan Pryor, Brick City Development Corporation CEO Lyneir Richardson, New Jersey Medical School Interim Dean Dr. Robert L. Johnson, New Jersey Institute of Technology President Robert A. Altenkirch, CGC Genetics, Inc. CEO Purificação Tavares, MD, Portuguese Ambassador to the United States Joao de Vallera and other dignitaries cut the ribbon for CGC Genetics, Inc., a Portuguese genetics testing company, at the New Jersey Institute of Technology Enterprise Development Center Building III at 211 Warren Street, this morning.

“This is an example of the powerful results of people coming together,” stated Mayor Booker. “I welcome CGC Genetics, Inc. to the City of Newark and commend all of the partners that facilitated the opening of their United States headquarters here in our City. This kind of unity gives me the sense that we can achieve all that we dream.”

The Portuguese genetic testing company chose to select Newark over other cities as its United States headquarters as a result of Portuguese business attraction efforts made by Brick City Development Corporation and the City of Newark. Representatives from the City of Newark and BCDC traveled to Portugal three times in 2007 and 2009, and Newark received several visits by Portuguese companies as part of the business attraction campaign. The addition of CGC Genetics, Inc. will strengthen Newark’s economy and enhance its role as a center of cutting-edge health research, education, and medical care.

Deputy Mayor Stefan Pryor, who is Chairman of BCDC, served as MC for the event and shared his enthusiasm for CGC’s arrival: “This is both the culmination of Newark’s initial Portuguese business recruitment efforts and, we hope and expect, the start of a trend. Newark makes enormous sense as the U.S. headquarters location for Portuguese businesses. Our city is a center of Portuguese culture and commerce in this country and is home to an international seaport and airport that make it an ideal base for any global operation.” Deputy Mayor Pryor continued, “We’re glad that CGC Genetics has seen the wisdom of locating in Newark and we look forward to its growth here in our city. We also look forward to additional Portuguese businesses following CGC’s lead.”


Councilman Amador welcomed the new Portuguese-based business to Newark. “I am proud to welcome CGC Genetics, Inc. to the City of Newark,” said Councilman Amador. “Not only does CGC bring jobs and credible research opportunities to Newark, but they are contributing to the Portuguese culture that already exists in our City. With the cohesion of both Portuguese and American hard work, dedication, and commitment, CGC will be a perfect addition to the business community.”

CGC Genetics, Inc. offers a broad range of more than 1,500 clinical genetic laboratory tests in the areas of Molecular Diagnostics, Cytogenetics, Prenatal/Pediatric Screening and Cancer, and Personalized Medicine. It will work with the Institute of Genomic Medicine at UMDNJ and its researchers to make a difference in the health and wellness for families, nationally and internationally. In addition, New Jersey Medical School has attracted $76 million in active National Institute of Health grants to CGC’s researches in Newark.

CGC Genetics CEO Dr. Purificação Tavares stated, “We are proud to open our United States Headquarters here in Newark. Our medical genetics business will benefit from Newark’s convenient location, extensive infrastructure, and prestigious medical schools. The support from Mayor Booker, Deputy Mayor Pryor, and the Brick City Development Corporation was instrumental in our decision to open a business in Newark. We are now not only passionately involved in medical genetics, but the community of Newark as well.”

Portuguese Ambassador to the United States Joao de Vallera was in attendance to celebrate the ribbon cutting as well. “It is a pleasure to again be in Newark today to welcome another Portuguese company to this City,” stated Ambassador de Vallera. “As an active group of entrepreneurs, the Portuguese play an important role in establishing cultural, academic, diplomatic, and economic relations with the United States. I extend my best wishes to CGC Genetics, Inc., and thank Mayor Booker and the City of Newark for their critical support.”

CGC Genetics is committed to hiring Newark residents as part of its expansion efforts. West Ward resident Roxana Babb received information about CGC’s expansion efforts from Newark’s One Stop Career Center and is currently working as the Executive Administrative Assistant at the CGC Genetics, Inc. Newark office. “After moving to Newark three years ago, I immediately utilized One Stop services to find employment. When I lost my job and was looking for work, the representatives and counselors at One Stop were there to help. Thanks to the One Stop Career Center, I have had the wonderful opportunity to work at CGC Genetics. I am grateful to One Stop employees for their help.”

New Jersey Institute of Technology’s Enterprise Development Center is the State’s oldest and largest technology business incubator. Through an array of service offerings, the EDC helps start-up companies commercialize their ideas by providing office and lab space, financial guidance and extensive technical coaching and advisory services. The incubator has launched 85 businesses and now has 95 companies in residence, employing over 300 people.

NJIT President Dr. Robert Altenkirk said, “NJIT has a strong focus on economic development, and has partnered with the City of Newark and Mayor Booker to attract CGC Genetics, Inc. to choose Newark as its US base. The Enterprise Development Center is the state’s oldest and largest technology business incubator, and gives CGC Genetics, Inc. the ability to grow into a presence on US soil without having to go through many of the capital-intensive acquisitions involved in opening a new location. I am pleased to welcome CGC Genetics to the NJIT, EDC, and Newark communities.”

“Newark is a mecca for biomedical research, and CGC Genetics, Inc. is now contributing to our reputation,” stated Dr. Robert L. Johnson, Interim Dean, UMDNJ - Medical School. “CGC Genetics, Inc. translates into actual services for our residents, and fuels economic and academic growth in our City. With grants and federal stimulus dollars flooding into Newark, we will continue to be the active center for biomedical research in the State of New Jersey.”