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NJ Rallies Investment Power, Leveraging Capital from Garden State Venture Partners to Drive MedTech and Maternal Health Innovation
NJ Rallies Investment Power, Leveraging Capital from Garden State Venture Partners to Drive MedTech and Maternal Health Innovation

Business Wire

time5 days ago

  • Business
  • Business Wire

NJ Rallies Investment Power, Leveraging Capital from Garden State Venture Partners to Drive MedTech and Maternal Health Innovation

GLASSBORO, N.J.--(BUSINESS WIRE)--Two transformative healthcare announcements this week mark a new era for New Jersey's innovation economy—with Garden State Venture Partners (GSVP) emerging as a key catalyst behind both. These initiatives represent over $100 million in coordinated investment, a model of public-private partnership, and a strategic bet on New Jersey as the next national hub for health tech and equity-focused innovation. Share 1. MedTech Strategic Innovation Centers Backed by GSVP & NJEDA On July 21, NJEDA and Rowan University unveiled a major initiative to launch a Strategic Innovation Center, with locations in Camden and Mullica Hill, supporting early-stage medical technology companies with critical lab space, mentorship, and commercialization resources. GSVP, a New Jersey-based venture firm committed to fueling statewide innovation, is helping to make this possible through venture capital funding for early-stage medtech companies. Read release 2. A First-of-Its-Kind Maternal and Infant Health Innovation Center in Trenton Just one day later, Governor Murphy and First Lady Tammy Murphy broke ground on a Trenton-based center dedicated to maternal and infant health equity. The MedTech Strategic Innovation Center will also have a presence at the Maternal and Infant Health Innovation Center, which will focus on medical technologies that address racial disparities in care. Once again, GSVP will play a central role in helping bridge the gap between public health needs and private-sector innovation by accelerating promising, equity-driven health tech ventures. Read release Together, these initiatives represent over $100 million in coordinated investment, a model of public-private partnership, and a strategic bet on New Jersey as the next national hub for health tech and equity-focused innovation. GSVP's leadership and capital are essential to making that vision real. About Garden State Venture Partners Garden State Venture Partners (GSVP) is a next-gen venture capital firm built to attract and retain companies and talent within the state of New Jersey. GSVP is uniquely positioned to deepen existing partnerships and forge new ones across the state—catalyzing innovation and driving sustained economic success by connecting and investing in the state's innovation ecosystem. Learn more about GSVP at and access full leadership team bios here.

Who is New Jersey's US attorney?
Who is New Jersey's US attorney?

Politico

time23-07-2025

  • Politics
  • Politico

Who is New Jersey's US attorney?

Good Wednesday morning! New Jersey's federal district court judges on Tuesday told interim U.S. Attorney Alina Habba to 'fuggedaboudit.' But the Trump administration signaled it may be up for a fight. The federal judges exercised a rarely used law that allows them to pick the state's top federal law enforcement officer, naming prosecutor Desiree Leigh Grace to the post. The move comes as Habba's 120-day interim term ends this week. While it was expected that the federal judges would not pick Habba to remain as U.S. attorney — she has been accused of political prosecutions and was criticized by a judge for her handling of the arrest of Newark Mayor Ras Baraka — the decision has been closely watched. But Habba may not need to start looking for another job yet: Some legal observers view the move to install Grace as setting up a potential showdown between the White House and judiciary, since U.S. attorneys serve at the pleasure of the president. The Trump administration showed they're willing to fight over this. U.S. Attorney General Pam Bondi announced Tuesday evening that the first assistant United States attorney in New Jersey — Grace's current position — was fired. It's unclear what this really means, though. The Trump administration's position is that Habba's 120-day term as U.S. attorney expires Friday evening. The judge's order says that Grace becomes U.S. attorney as of July 22 or once her term is up, whichever is later. So is Grace still scheduled to be U.S. attorney come Saturday? Is Habba legally still the U.S. attorney right now? As of this newsletter's filing, it's a bit unclear. As noted in last week's Playbook, the Trump administration used a loophole to basically install its preferred U.S. attorney past the 120-day interim period in the Northern District of New York. Read more from me and POLITICO's Ry Rivard here. FEEDBACK? Reach me at Dhan@ WHERE'S MURPHY? No public schedule. QUOTE OF THE DAY: 'Everybody loves moms and babies.' — first lady Tammy Murphy during an event for infant and maternal health. HAPPY BIRTHDAY — Michael Muller WHAT TRENTON MADE MATERNAL HEALTH — State breaks ground on multimillion-dollar maternal health center, by POLITICO's Daniel Han: The Murphy administration broke ground on Tuesday on the state's Maternal and Infant Health Innovation Center, a legacy project for First Lady Tammy Murphy's infant and maternal health initiatives. The center, based in Trenton, will provide health care services and serve as a research and workforce hub for maternal health. There have been $86.7 million in state and federal funds bookmarked for the project and Gov. Phil Murphy told reporters on Tuesday that construction is expected to last until early 2027. ENERGY PRICES — PJM prices continue to climb, but may not add much to ratepayer pain, by POLITICO's Ry Rivard: The nation's largest power market will see another increase in wholesale electricity prices — but utility customers are unlikely to face the type of dramatic spike next summer like the one they're paying for now. Power prices in PJM Interconnection's latest capacity auction increased by 22 percent to $329 per megawatt day, a level PJM said it expects to translate to a year-over-year increase of a 1.5 to 5 percent in some customers' bills, depending on their state. Consumers in some areas could see a drop in retail rates when they take effect next summer, PJM added. SPEAKING OF IMPORTANT PICKS — Ciattarelli to pick Morris County sheriff as lieutenant gov, by POLITICO's Daniel Han and Madison Fernandez: Republican gubernatorial candidate Jack Ciattarelli is expected to announce Morris County Sheriff Jim Gannon as his lieutenant governor pick, two people familiar with the matter told POLITICO. The pick is expected to be announced at Johnnies Tavern in Boonton tomorrow. Boonton is in Rep. Mikie Sherrill's district, Ciattarelli's Democratic opponent this fall. The decision to pick Gannon could give Ciattarelli a key foothold in Morris County, long a GOP stronghold where Democrats have made inroads in recent years. Gannon, however, remains popular and won the election in 2022 unopposed. — NJ Globe: 'Sherrill hasn't consulted Murphy on LG pick, governor says' ACADEMY AWARDS — 'NJ Turnpike board settles dispute over $3.1M that Academy bus subsidiaries owed,' by The Record's Colleen Wilson: 'The New Jersey Turnpike Authority board of directors unanimously approved an agreement with three of Academy's bus companies to resolve a 'long-running' dispute over Academy's non-payment of more than $3.1 million in license agreement payments involving service to Atlantic City and New York City. As part of the agreement, Academy will pay a reduced amount — nearly $2.7 million through monthly installments for 90 months starting August 1. If the Hoboken-based company misses a payment, the entire balance will be immediately due, according to the Turnpike board's documents. Academy is also currently paying off a $20.5 million settlement with NJ Transit to resolve allegations that it defrauded the agency out of more than $15 million for no-show buses on Hudson County routes for at least six years.' $ — 'ELEC gives Sherrill $2.1 million, Ciattarelli $1.6 million in first general election public funds, by The New Jersey Globe's Joey Fox: 'A month and a half after they won their respective gubernatorial primaries, Rep. Mikie Sherrill (D-Montclair) and former Assemblyman Jack Ciattarelli (R-Somerville) have received their first publicly financed matching funds of the general election campaign. The New Jersey Election Law Enforcement Commission (ELEC) announced this afternoon that Sherrill has received $2,085,847 in matching funds, putting her 17% of the way towards the overall $12.5 million cap, while Ciattarelli has received $1,634,757, 13% of the cap. — The Record: 'NJ Transit moved 21K fans after Club World Cup final. Can it handle the 2026 World Cup?' TALKIN' BUSINESS (OR NOT) — 'Sherrill struggling to connect with business community,' by Binje's Tom Bergeron: 'Here are two things that many people believe to be true: Mikie Sherrill is going to win the race to be the next governor. The polling seems to show that. Mikie Sherrill is not connecting with the business community. Her speeches seem to show that. … Speaking to the African American Chamber of Commerce of New Jersey after its annual golf event, Sherrill gave a lackluster 6 minute, 32 second speech that was short on specifics – and passion. … More than that, the speech seemingly lacked an understanding of the serious issues and concerns of a community that has an astonishingly low net worth (less than $20,000 – or more than $500,000 less than white New Jerseyans) and struggles to get a fair rate on auto insurance, let alone a business loan.' — OP-ED: 'Turner and Diegnan: Expanding Access to Eye Care is Smart Move for New Jersey's Seniors and Families' — NJ Advance Media: 'Predatory coaches lurk on youth sports teams. Here's N.J.'s plan to stop them.' TRUMP ERA ICE — Appeals court says New Jersey improperly regulates federal government over immigrant detention centers, by POLITICO's Madison Fernandez: A federal appeals court on Tuesday dealt a blow to New Jersey's law that prohibits immigration detention agreements with the federal government, arguing that it 'interferes with the federal government's core power to enforce immigration laws.' The opinion by U.S. 3rd Circuit Judge Stephanos Bibas is the latest in the long-running battle over the 2021 law, which barred new and extended immigrant detention contracts between federal authorities and state, local and private entities. CoreCivic, a private corrections company that operates a detention center in Elizabeth, sued over the law. A federal judge ruled that the provision of the law concerning private entities was unconstitutional. The state appealed, and the case was heard in May. — NJ PBS faces steep cuts from rescissions package, by POLITICO's Daniel Han: New Jersey's local PBS station is facing steep cuts after congressional Republicans moved to claw back funding that was appropriated for public broadcasting. … A spokesperson for NJ PBS told POLITICO that it receives around 15 percent of its operating budget — nearly $1.5 million — through CPB in the 2026 fiscal year. It also applied for a $200,000 grant for 'Trenton State House multiplatform reporting.' … Assembly Majority Leader Lou Greenwald, who has supported state funds to support local journalism in the state, said in an interview that independent news is 'critically important to our democracy' but noted that the state has to figure out how to prioritize other federal funding cuts. —'Bipartisan group of N.J. lawmakers tells Hegseth not to cut jobs at Picatinny Arsenal,' by the New Jersey Globe's Joey Fox: 'A bipartisan group of 13 New Jersey representatives and senators, encompassing nearly the state's entire congressional delegation, sent a letter to Secretary of Defense Pete Hegseth and Secretary of the Army Daniel Driscoll yesterday expressing 'grave concern' over a proposed Army plan that could lead to sizable losses of funding and jobs for Picatinny Arsenal in Morris County.' — Fox News: 'Mandani's agenda is clearly not aligned with the Democratic Party, says [Gottheimer]' — The Record: 'Woman struck and injured by SUV at North Jersey ICE protest vows to fight on' LOCAL ALWAYS A JERSEY CONNECTION — The legendary Ozzy Osbourne died Tuesday, just a couple weeks after Black Sabbath's farewell concert in their native Birmingham, England. A colleague points out that Black Sabbath's first concert in the United States, in 1970, was apparently at the Esby Auditorium 'at the usually sedate Glassboro State College (now Rowan University) in Glassboro.' The godfathers of heavy metal reportedly played a short set that included now-classics like 'War Pigs' and 'Paranoid,' and Ozzy reportedly 'wandered off into a messy pile of tears' in the gym. RIP, Prince of Darkness. — Dustin Racioppi SCHILL-AR-ELL-I — Hudson County Sheriff Schillari switches to Republican prior to his term expiring, by the Hudson County View's John Heinis: 'Hudson County Sheriff Frank Schillari, who was first elected as a Democrat in 2010 and will serve for a record-setting five terms, has just switched to the Republican Party prior to his term expiring at the end of the year after a primary loss to Bayonne Mayor Jimmy Davis.' EVERYTHING ELSE IN RUTGERS WE TRUST — 'Greg Schiano 'not worrying' about Rutgers' long-running AD search, has 'total faith',' by NJ Advance Media's Brian Fondeca: 'Greg Schiano is not losing sleep over the long-running search for his new boss. The Rutgers football coach has 'not spent a lot of time worrying about' the school's pursuit of its next athletic director, he said Tuesday at Big Ten Media Day. Rutgers has been without a full-time athletic director for more than 11 months. Former athletic director Pat Hobbs resigned amid scandal last August, and the school has had two interim athletic directors since.' BIG PHARMA REPLACED BY LIL PHARMA — 'Rite Aid closing these 33 New Jersey locations amid bankruptcy,' by The Record's Daniel Munoz: 'Pharmaceutical giant Rite Aid will be closing — or has already shuttered — at least 33 locations across New Jersey following its bankruptcy in May, court filings show. The locations span North, Central and South Jersey, as well as the Jersey Shore, according to court documents, after the chain's second bankruptcy since 2023.'

An SHBP show
An SHBP show

Politico

time22-07-2025

  • Business
  • Politico

An SHBP show

Good Tuesday morning! Still no update on who our U.S. attorney will be come Wednesday as of the time this newsletter was filed last night. More on that from POLITICO's Ry Rivard below. But since I am the interim Playbooker this morning, let me take a minute to talk about an issue that will take up a lot of Gov. Phil Murphy's time during his final days in Trenton: fixing the state's beleaguered health insurance program for government workers. The State Health Benefits Program is facing massive proposed rate hikes for the upcoming plan year. Its coverage for local governments is in a 'death spiral.' And the current state budget requires state workers to find $100 million in recurring savings in a six-month period. Amid this backdrop, Assembly Speaker Craig Coughlin is supporting a labor-backed bill that revamps the SHBP and is set for a rare summer committee hearing. That bill overhauls the governance and makeup of the board that oversees the SHBP — giving unions more leverage than they currently have — and changes how local government employees pay for their health care contributions that could insulate them from future rate hikes. But that effort may be dead right out of the gate: One executive branch official told Playbook that the bill is an 'unserious proposal' and a 'complete non-starter.' A key concern from other administration officials is that they are skeptical the proposal would achieve meaningful savings to make the SHBP solvent in the long run. They also said that the governance structure would prevent the commission from being nimble. (The bill does allow for an independent arbitrator to make decisions in the event of a prolonged stalemate, although it could take weeks, if not months, to get to that point.) Amid all this, Senate President Nick Scutari has proposed a time-honored Trenton tradition: create a task force for recommendations on SHBP fixes, as per an op-ed. A spokesperson for Senate Democrats said that setting up the task force 'doesn't rule any idea in or out.' Murphy declined to comment on the bill when asked about it in Trenton yesterday, but said the situation on the health benefits was 'complicated.' 'It's probably six or seven bank shots that would all have to come together,' he said of a potential long-term fix. 'Folks are gonna have to revisit what the state's putting in, on the other side what the workers are putting in. It depends on the plan, but the fact of the matter is the math is not working and we need to find ways to make the math work.' More on this below. FEEDBACK? Reach me at Dhan@ WHERE'S MURPHY — In Trenton with first lady Tammy Murphy for a groundbreaking ceremony for the Maternal and Infant Health Innovation Center QUOTE OF THE DAY: 'Kim, it'll be nice to have you hanging here. Not literally.' — Gov. Phil Murphy, during the unveiling of former Lt. Gov. Kim Guadagno's portrait HAPPY BIRTHDAY — Alexis Degan, Marelyn Rivera, former Rep. Mike Ferguson and former Hoboken Mayor Peter Cammarano WHAT TRENTON MADE Labor-backed public worker health insurance bill has rare summer hearing — and some pushback, by POLITICO's Daniel Han: Assembly Democrats are moving forward with a rare summer committee hearing on a labor-backed bill that overhauls the state's beleaguered health insurance program for state and local government employees. It's already facing hurdles. The legislation, NJ A5903 (24R), has the backing of Assembly Speaker Craig Coughlin. But one executive branch official, granted anonymity to speak candidly on the pending bill, described it as a 'complete non-starter' that would 'accelerate the death spiral and collapse of the [State Health Benefits Program].' Other administration officials have questioned whether the proposal would achieve meaningful savings. THE NOT UNTOUCHABLES — Gov. Phil Murphy did not rule out the possibility of redrawing the state's congressional map as Texas Republicans are trying to overhaul their congressional map in a way that would benefit Republicans. 'No news to make, other than I will quote Sean Connery in 'The Untouchables': 'Never bring a knife to a gunfight,'' Murphy told reporters at an unrelated event. 'So if that's the way we're going, we're from Jersey, baby, and we won't be laying down.' The comments come as House Minority Leader Hakeem Jeffries recently told CNN that national Democrats are considering several states — including New Jersey — to redraw their congressional maps if Texas moves forward with its proposal. But an attempt to overhaul the state's current congressional map mid-decade would almost certainly require a state constitutional amendment. For the uninitiated, that would require a resolution to pass the Legislature in two years with a simple majority or one year with a supermajority — and then it goes to the voters for approval. (The deadline is August to put a constitutional amendment on the ballot this fall.) That's a lot of cooks in the kitchen. Also a relevant throwback: New Jersey lawmakers tried to amend the constitution in a way that would boost Democrats several years ago, but that effort ultimately failed. It's worth noting that the governor has no official role in amending the constitution in New Jersey. Still, Murphy said the issue would likely be discussed among other Democratic governors during an upcoming National Governors Association meeting. 'I suspect as the Democratic governors get together for a drink or a coffee, this will be high on the agenda,' he said. — Daniel Han — 'Assembly nominee accused of abuse faces criminal summons after sharing nude photos,' by New Jersey Globe's Zach Blackburn: 'A New Jersey physician filed a criminal complaint against Democratic Assembly nominee Ron Arnau on Monday, saying the candidate illegally shared nude photographs of him with the New Jersey Globe earlier this month. Physician Cristian Serna-Tamayo alleged Arnau, who is running for Assembly in the 40th legislative district, physically and emotionally abused him during a relationship from 2014 to 2016. Serna-Tamayo, in sworn statements from the time and in an interview with the New Jersey Globe, said Arnau held him at knifepoint for three hours in 2016, leading the pair to receive mutual temporary restraining orders; they later reached an agreement to drop the restraining orders. Arnau was never criminally charged in the matter and is now married to a different man. He has denied the allegations.' BEACH BURN — 'Attorney general blasts 'outrageous' claims lobbed by state senator,' by New Jersey Monitor's Sophie Nieto-Munoz: 'A South Jersey state senator's accusations that Attorney General Matthew Platkin is using his office to pursue political vendettas are 'outrageous, totally ridiculous, and wrong,' Platkin said Monday. 'I think we know his politics and frankly, you know, I wish the folks in Trenton — Democrat and Republican — would spend more time focused on how they improve the lives of people's families and less time attacking people who are trying to help them,' Platkin told the New Jersey Monitor Monday after an unrelated event in Newark. Platkin and the state senator in question, James Beach, are both Democrats, but Beach is an ally of South Jersey Democratic power broker George Norcross, whom Platkin indicted on since-dismissed racketeering charges last year. Beach, who represents Camden County, last week sent a letter to Senate President Nick Scutari asking for legislative hearings in the fall on what Beach called Platkin's 'gross mismanagement and overtly political behavior.'' — New Jersey Monitor: New Statehouse portrait honors former lieutenant governor TRUMP ERA HABBA HUBBUB — Alina Habba, the interim U.S. attorney for New Jersey, is expected to learn today whether she can keep her job. Habba, a former personal attorney to Donald Trump, has drawn scrutiny for prosecuting the mayor of the state's largest city and a member of Congress and investigating the governor. Her 120-day interim appointment expires today and the president has nominated her to a full term, but her fate remains unclear. In an unusual process, district court judges were expected to have met Monday to decide whether she can stay on in the near-term — they could vote to keep her, not keep her or try to pick someone else for the role. Chief Judge Renee Bumb's office said nothing about their work, which is now subject to intense outside scrutiny on social media. In a social media post, House Minority Leader Hakeem Jeffries, a New York Democrat, called Habba the 'so-called U.S. Attorney' and accused her of 'maliciously' charging Rep. LaMonica McIver with felonies following a chaotic May incident outside an immigration detention facility in Newark. A trespassing charge filed that day against Newark Mayor Ras Baraka was dropped. Jeffries said Habba 'must be rejected by the Federal District Court judges who are considering whether to retain her.' Conservative lawyer Mike Davis said he was filing a House ethics complaint against Jeffries for 'strong-arming' the 17 judges, 15 of whom were appointed by Democrats. Davis' move drew praise from Trump allies. On his show, Steve Bannon criticized 'radical neo-Marxist federal judges in New Jersey working with Hakeem Jeffries' for trying to ditch Habba. Todd Blanche, who also represented Trump before joining his administration as a deputy attorney general, said on social media that Habba 'has the full confidence of DOJ leadership.' If the judges do appoint a successor to Habba, it could set up a showdown with the executive branch if Trump moved to fire that person. Trump has asked the Senate to confirm Habba to a full term, but it's clear New Jersey's two Democratic senators don't want the nomination to proceed. — Ry Rivard CONGRESSIONAL GOP OPPOSE SANDY RELIEF AGAIN — 'Shore towns get no federal dollars for beach replenishments for the first time in almost 30 years,' by The Philadelphia Inquirer's Frank Kummer: 'Congress typically allocates between $100 million and $200 million each year for beach replenishment initiatives — projects that dredge sand from the ocean floor or other places and deposit it onto U.S. coastal beaches to combat erosion. This year, however, the federal budget earmarked zero dollars — marking the first complete funding halt for such projects since 1996. And it's possible that zero might carry over into next year as Congress debates spending priorities.' CROSSING BRIDGES — Former Acting U.S. Attorney for the District of New Jersey Vikas Khanna is joining Sills Cummis & Gross P.C. as chair of its White Collar Practice Group. As a prosecutor, Khanna is perhaps best known for prosecuting the Bridgegate trial. — POLITICO: Gottheimer's only challenger ends bid — NJ Globe: 'Anna Lee Williams becomes first Democrat to enter race for NJ-11' — NJ Monitor: 'NJ governor candidates split on housing immigrant detainees at Fort Dix' — The Record: 'A third of new members on US DOT advisory committee have NJ ties" — The Record: 'Medicaid work requirements cut coverage for thousands in other states. Can NJ do better?' LOCAL WHAT'S BLACK, WHITE AND RED BANK ALL OVER — 'A legal complaint to remove an arrest record raises free speech issue in Red Bank,' by the Asbury Park Press' Olivia Liu: 'In an attempt to keep his assault arrest from showing up in internet searches, a Red Bank resident filed a criminal complaint against a local news outlet to get it to remove the original news item. The complaint raises the issue of what the press can print and what restrictions the government may impose on it. Red Bank Green publisher Kenneth Katzgrau and reporter Brian Donohue were named in the complaint that was filed by Kyle Pietila, who had his arrest record expunged about six months after the arrest. The case is being heard in Red Bank Municipal Court.' 'N.J. school district blames state for 'unbearable' 25% tax hike on residents,' By NJ Advance Media's Nyah Marshall: 'A Monmouth County town is blasting New Jersey education officials over deep school aid cuts, saying it was forced to impose a 25% tax hike on its residents. Neptune Township has lost more than $20 million in state aid since New Jersey revised its school funding formula in 2018. For the 2025-26 school year alone, the district saw a $4 million drop in aid, officials said. Struggling to make up the multimillion-dollar budget gap, the district was forced to raise property taxes by $17 million — the largest increase in the township's history, according to Mayor Robert Lane.' EVERYTHING ELSE CHRISTIE SPEAKS — Chris Christie backs Seton Hall president amid clergy abuse investigation, by POLITICO's Dustin Racioppi: Former New Jersey Gov. Chris Christie said Monday he supports Seton Hall University's president amid an investigation into his past handling of clergy abuse allegations. Christie is one of the most prominent graduates of Seton Hall's law school and his wife, Mary Pat, recently left the school's Board of Regents without explanation. BIG DAY FOR 'NY/NJ' — 'NJ and NYC Expect $3.3 Billion Boost From Hosting World Cup,' by Bloomberg's Sri Taylor: 'New York City and New Jersey officials are projecting a $3.3 billion economic boost to the region from hosting the FIFA World Cup in 2026. The region will host eight matches at Metlife Stadium in New Jersey, including the final on July 19, 2026, expecting to bring in over 1.2 million fans and tourists, according to an economic impact summary released Monday by the NYNJ Host Committee, the local body responsible for organizing the games. The tournament will generate $1.3 billion in projected total labor income for the regional economy, and $1.7 billion in projected spending within the regional economy by match and non-match attendees, according to the committee's estimates.'

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