Company That Grows Human Bones Gets NJ Grant To Move To Hudson County

HUDSON COUNTY, NJ — A Brooklyn-based, woman-founded "regenerative medicine" company focusing on skeletal reconstruction will receive a grant from New Jersey to expand into Jersey City, the state announced last week.

"Once upon a time, we thought bones couldn't regrow," says the biotech company EpiBone. "Now we know they do. And we can show them how."

Regenerative medicine can help patients by healing or replacing organs or tissue damaged by age, damage, disease, and defects.

"Sitting at the intersection of biology and engineering, the company harnesses the power of cells to create living solutions that can become a seamless part of a patient’s body," noted the state's Economic Development Authority in a press release.

They added, "EpiBone is currently developing a pipeline of bone, cartilage, and compound (bone and cartilage) products."

The company will create 90 jobs in Jersey City, the state said in a release from the EDA.

EpiBone has a product in clinical trials, and two products in various phases of clinical development, that require it to take on additional space and hire more staff, the company said.

“By securing EpiBone’s relocation to Jersey City through the ground-breaking Emerge Program, New Jersey is once again expanding its nation-leading life sciences ecosystem,” said Gov. Phil Murphy. “EpiBone will serve as an invaluable asset to our growing economy as it brings nearly 100 new jobs to our state and innovates at the cutting edge of life-changing biotechnology."

EpiBone is co-founded and led by Chief Executive Officer (CEO) Dr. Nina Marie Tandon, a New York City native and biomedical engineer who holds several patents and is known for her TED Talks on engineered tissue.

She has a PhD in Biomedical Engineering and MBA from Columbia University, as well as a Master’s in Bioelectrical Engineering from MIT.

Prior to NJEDA Board consideration, Tandon submitted a letter of intent to the NJEDA indicating that if the Authority approves the tax award as proposed by the NJEDA, EpiBone will proceed with the Project at the Qualified Business Facility located at 95 Greene St. in Jersey City.

The Emerge Program is part of the New Jersey Economic Recovery Act (ERA). Through the Emerge Program, small to large businesses, as well as non-profits, can apply for tax credits to support projects that meet minimum capital investment, job creation or retention, and other requirements.

Founded in 2014, EpiBone is the first company approved under Emerge to qualify for the program’s “Small Business” designation, allowing companies to grow in New Jersey.

Jersey City is home to the highest percentage of venture-funded companies founded by women, according to a study by banking app Tide.

“New Jersey’s educated and diverse talent pool, accessible location, and network of high-profile research universities makes it an ideal spot for a dynamic, rapidly growing business to reach its potential,” Dr. Tandon said.

“We continue to promote growth and economic development amid one of the greatest renaissances Jersey City has ever seen, and businesses want to relocate here to be part of the progress," said Mayor Steven Fulop.

"The company’s headquarters ... will include research and development facilities and clean room space," the EDA said. "The positions moving to Jersey City include executive staff, clinical positions, research, system engineers, lab support, quality control and quality assurance specialists, manufacturing support, information technology, and various administrative functions."

EpiBone is currently developing a pipeline of bone, cartilage, and compound (bone and cartilage) products.