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For biotech CEO, N.J. location is a must to lead turnaround
BioNJ honoring exec who says home state is welcoming to industry
By Jared Kaltwasser
A few months after leaving his home state of New Jersey to become CEO of a small Texas biotech firm, Paul Thomas sat down with LifeCell Inc.’s board of directors to have a frank talk.
The company’s regenerative medicine technology was everything Thomas had hoped for, but to reach the technology’s commercial potential, he would need to reinvent the company and realign its staff.
“I said, ‘Look, I can do all that in Texas, or we can put this business in a location where we have the ability to attract the types of folks who can really help us drive that transformation,'” he said.
LifeCell became the first of two companies Thomas would bring to New Jersey, an effort that will be recognized Feb. 2, when BioNJ presents Thomas — now CEO of Warren-based Roka Bioscience Inc. — with the trade group’s top honor, the Sol J. Barer Award, at its annual meeting.
BioNJ President Debbie Hart said Thomas isn’t alone in seeking out New Jersey for its talent pool.
“It’s frankly the reason that we even get a look,” she said. “It’s the reason that we end up on anyone’s list that’s looking to relocate, and a lot of times it’s one of the top three reasons that the decision is made to come here.”
Thomas, who grew up in Ridgewood, had planned to become a research chemist. He studied chemistry in undergraduate and graduate school before changing course and enrolling in an MBA program at Columbia University.
