NEWS RELEASE

Cushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza
East Rutherford, New Jersey 07073

Media Contact:            Evelyn Weiss Francisco / evelyn@caryl.com / (201) 796-7788

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CHROMOCELL LEASES AT N.J. EDA’S BIOTECH DEVELOPMENT CENTER
Cushman & Wakefield Inks Lease, Cites Viability of State’s Biotech Industry

NORTH BRUNSWICK, N.J., March 23, 2009 – Chromocell Corporation, a drug discovery company focused on the identification and development of novel therapeutics, has leased 15,000 square feet at the New Jersey Economic Development Authority’s (EDA) Biotechnology Development Center in North Brunswick. Cushman & Wakefield, Inc.’s Mary Ryan and Jon Marks – both based in Cushman & Wakefield’s Edison, N.J., office – orchestrated the multi-year transaction.

According to Ryan, the Chromocell lease is a great success story for the EDA. Chromocell started in 2003 as an incubator company at the authority’s Commercialization Center in North Brunswick. Both facilities are part of its Technology Centre of New Jersey campus.

“The whole point of the EDA’s incubator is to grow companies for the next step,” Ryan said. “When we started working with Chromocell, the firm had about five employees. Today it has 70 people. Our challenge was to work with Chromocell in a way that anticipated and accommodated this rapid growth. The result is state-of-the-art ‘tweener’ laboratory space that is very cost effective. It is exciting that our client has reached the next stage and is able to stay with the EDA.”

Chromocell was founded to commercialize Chromovert technology. The company is focused on several drug discovery programs in pain relief, anxiety treatment and respiratory disorders. Chromocell is also engaged in research and development for Chromovert technology applications in cell therapy, stem cells and other fields, collaborating in these efforts with several leading research institutions.

“Chromocell illustrates how biotechnology is thriving in New Jersey,” Ryan said. “Viable firms with strong science, product and management continue to receive investor funding. To succeed, they need to run lean and make smart business decisions. Chromocell is a terrific example of a company that always keeps it eyes on cost efficiency. The firm has a very bright future here.”

“This is an exciting time for us at Chromocell – we started the company in one lab at the Tech Center and became a fully integrated drug discovery company over the past few years. The EDA’s continued support has helped Chromocell make the successful transition from a small start-up to what we are today. The EDA, Cushman & Wakefield and Chromocell have been a strong team to facilitate the Company’s expansion,” said Christian Kopfli, chief executive officer of Chromocell Corporation