NJEDA and Coriell Institute for Medical Research Announce New Innovation Center in Camden
TRENTON (Feb 24, 2025) –– The New Jersey Economic Development Authority (NJEDA) and the Coriell Institute for Medical Research 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 Governor 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, which will be in close proximity to the headquarters of Campbell’s and Subaru, building upon the city’s economic strength and commitment to attracting world-class enterprises. The Coriell Institute will leverage its international reputation in biobanking and cutting-edge biomedical research to support innovative startup companies at the SIC.
The Coriell Institute for Medical Research is a leader in biomedical innovation and is home to some of the most famous biobank collections, including the National Institutes of Health’s premier collections representing thousands of human diseases. Coriell scientists work to accelerate scientific discovery by generating world-class biomaterials and conducting groundbreaking research in biobanking and epigenetics.
“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.
“The creation of the Strategic Innovation Center is a monumental step in strengthening Camden City’s position as a center for innovation in life sciences,” said State Senator Nilsa Cruz-Perez, Assemblyman William Moen, and Assemblyman William Spearman (LD-5). “With the partnership between the New Jersey Economic Development Authority and the world renowned Coriell Institute of Medical Research, we are not only driving cutting-edge biomedical research but also fostering an environment where groundbreaking discovery and progress can thrive. This center will play a critical role in advancing healthcare solutions while solidifying Camden as a leading force in the global life sciences market.”
“Innovation doesn’t happen in isolation—it thrives in places where ideas collide, where mentorship meets ambition, and where the next generation of pioneers has the tools to turn bold ideas into reality,” said Assembly Majority Leader Lou Greenwald. “Through this historic collaboration between the NJEDA and Camden, we are not just investing in a facility—we are investing in the future of this city as a powerhouse for biomedical discovery and economic growth. The future is being built right here in Camden, and I’m proud to be part of it.”
“The formation of the NJ Biomedical Strategic Innovation Center in Camden marks a transformative step in our commitment to fostering scientific advancement and economic growth in South Jersey,” said Assemblywoman Melinda Kane. “Thanks to the partnership between NJEDA and Coriell Institute, New Jersey remains at the forefront of life sciences and technology, driving innovation in cancer treatment, stem cell applications, and drug development.”
“I commend Governor Murphy and NJEDA for working with the leadership of Coriell Institute for Medical Research on this exciting expansion,” said Camden Mayor Victor G. Carstarphen. “Camden is the proud home to the growing Eds and Med’s community. Coriell is a longtime partner here in Camden and we are pleased to build upon that relationship to ensure Camden leads the way in life sciences innovation. The new Strategic Innovation Center will result in the creation of over 100 new jobs, the creation of a new state of the art facility, and retention of the world’s best scientists.”
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.
