Governance Board Spotlight on James Golubieski
By Julia Milton

In a time of increasing economic uncertainty, James Golubieski has been working hard to help fuel innovation in the sciences.  Mr. Golubieski is the President of New Jersey Health Foundation (NJHF) and two of its subsidiary organizations, Foundation Venture Capital Group and the Foundation of UMDNJ, which all  support the growth of  the University of Medicine & Dentistry of New Jersey.

The Foundation of UMDNJ was founded in 1973 to raise money for research, education and patient care programs at the University and has raised more than $375 million to support those areas. In addition, income from its investment portfolio is used to support the Annual Program Committee Awards, providing grants to support scientists involved in groundbreaking research.

While the Foundation of UMDNJ funds academic research initiatives, Foundation Venture Capital Group invests in research at the University that is ripe for commercialization. Established by NJHF with $5 million, Foundation Venture Capital Group can invest $500,000 in ten companies, providing seed money for promising biotech start-ups. So far,  it has invested in four: (1) Snowdon, Inc, a drug discovery and development company focused on cancer, acute and chronic pain, and infectious disease, (2) Longevica Pharmaceuticals, Inc, which researches drugs for use in cancer, degenerative disease, and age-related disorders, (3) CellXplore, which is pioneering new non-invasive diagnostic tests for breast cancer and other diseases, and (4) Actinobac Biomed, Inc, a company focused on developing therapies for bone marrow, lymph node, and blood cancers.

By funding cutting-edge research being done at very early stages at UMDNJ start-ups, Mr. Golubieski actively helps create jobs in the biosciences. He became part of Bio-1’s Governance Board through his work with the NJ Economic Development Authority (EDA). His valuable experience with new companies enables him to provide insight to start-ups. Mr. Golubieski sees a strong connection between the work he does and Bio-1’s goals. “The mission of Foundation Venture Capital Group is to promote the bioscience industry in New Jersey by investing in new start-up companies at the University of Medicine & Dentistry of New Jersey, which works perfectly with the Bio-1 goal of making Central New Jersey the next  ‘hot spot’ for the global bioscience industry.  My sense is that by working with Bio-1 and the other key players in the biosciences in New Jersey, we will be able to strengthen the industry to the point that we will become national leaders in the bioscience arena.”