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French business planning a move to New Jersey

Biotrial S.A. is a French pharmaceutical research company that has been looking for a place to call home here in the United States. After considering other states and locations, the company has decided to call New Jersey home. When the company moves to Newark, it will be the culmination of years of business planning.

Biotrial says that its main function in New Jersey will be to do early-stage research and conduct clinical trials in the United States for European companies that need them. The site that Biotrial has chosen is close to the academia in Newark. This was not an accident. There is hope for much collaboration between the company and academic researchers.

The company will also be employing approximately 60 people at the facility. The New Jersey Economic Development Authority agreed back in 2011 to provide the company with a grant under the Business Employment Incentive Program if the company would move to New Jersey. The final amount of the grant will be determined once all of the Authority's conditions and requirements are met by the company.

Biotrial plans to move into its new location in 2014. When that happens, years of business planning will have come to fruition. Whether or not the move is a success remains to be seen. Any business that is considering taking a risk like this company may want to take as much time as is needed in order to conduct as much due diligence as possible to help ensure that the risk will be successful. As part of this due diligence, a company may need assistance to identify all of the business and legal conditions that are applicable to its business.

Source: njbiz.com, "French pharma research company to call Newark home," Katie Eder, Jan. 24, 2013

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