NJEDA and Coriell Institute Announce New Innovation Center in Camden

On Feb 25, 2025

The New Jersey Economic Development Authority (NJEDA) and the Coriell Institute for Medical Research have announced the creation of a new Strategic Innovation Center (SIC) in Camden, leveraging the world-class assets available at Coriell to support biomedical research and innovation. The new innovation center will be fully equipped with state-of-the-art incubator and laboratory spaces for emerging biotech companies, will drive economic growth in the region and establish Camden as a leader in life sciences innovation. The project is expected to create approximately 150 new permanent jobs, plus 100 construction jobs.

“Since taking office, my administration has been laser-focused on advancing New Jersey’s innovation economy through targeted investments in our most crucial industries and sectors,” said Gov. Phil Murphy. “The NJ Biomedical Strategic Innovation Center is set to redefine biomedical research and development by uniting private companies, premier academic institutions, and leading entrepreneurs to pave the way for groundbreaking biomedical technologies, further cementing New Jersey’s legacy of leadership in innovation and life sciences.”

“Under Governor Murphy’s leadership, New Jersey has made historic investments in its innovation ecosystem, empowering entrepreneurs with the resources they need to thrive, further solidifying the state’s position as a global leader in innovation,” said NJEDA Chief Executive Officer Tim Sullivan. “Through the NJEDA’s Strategic Innovation Center initiative, Camden will serve as a pivotal hub for cutting edge biomedical research, advancing lifesaving technologies in cancer treatment, stem cell applications, epigenetics, and drug development. By partnering with leading corporations and academic institutions, the NJ Biomedical Strategic Innovation Center will leverage the state’s brightest minds to create companies of the future, generating high-quality jobs, and growing New Jersey’s economy.”

The NJ Biomedical SIC will encompass approximately 45,000 square feet at the Lewis L. Coriell Medical Research Center in Camden.

“Coriell is thrilled to partner with Governor Murphy and the NJEDA to expand the life sciences ecosystem in southern New Jersey,” said Jean-Pierre Issa, MD, president and CEO of the Coriell Institute. “Boasting attractive advantages including the opportunity to collaborate with Coriell Institute’s world-class scientists, having immediate access to Coriell’s world renowned biobanks, and operating in a more affordable locale, will make the CoLabs incubators a highly desirable destination for emerging biotech companies.”

The SIC will host emerging biotech companies, with a focus on cancer research, epigenetics, stem cells, and drug development. The innovation center will also enter into cooperation agreements with Rutgers University, Rowan University, and other New Jersey institutions of higher education to promote academic collaboration.

Pending approval by its Board, the NJEDA intends to invest $20 million to support the NJ Biomedical SIC. The Coriell Institute will invest over $21 million to construct the innovation center, including lab and co-working space that will house specialized equipment and offices.

SICs are facilities that support research and development, innovation, and entrepreneurship through mentorship, networking opportunities, hands-on training, business support services, and education opportunities. SICs can be accelerators, incubators, or research centers. Having a physical location where entrepreneurs can collaborate will help support new, diverse innovators and help drive long-term economic growth.

Last week, the NJEDA announced it was partnering with Nokia Bell Labs to create the NJ Nokia Innovation Center and New Jersey Bell Labs Venture Studio focused on accelerating and commercializing intellectual property in the fields of communication, artificial intelligence (AI), cloud computing, and optical and wireless networks.

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