Palm Beach County Life Science Industry Study Presented by Kelly Smallridge President and CEO Business Development Board of Palm Beach County
Major Investments Made in Life Science Founded 2004, permanent facility Jupiter Life Science Initiative: Founded 2006, permanent facility opened 2012 opened 2009 20,000 square foot research Jobs: 120 Jobs: 600+ building; eight neuroscience Square footage: 100,000 square feet Square Footage: 350,000 square labs with 40 employees Funding: State of Florida: $94 million Four Centers doing life science feet on 30 acres Palm Beach County: $87 million Funding: State of Florida work FAU: land donation (appropriation of federal economic Collaboration with Scripps and development funds): $310 million Max Planck Palm Beach Four Pillars: Healthy Aging; Neuroscience; Ocean County: $187 million Science/Engineering/Environ- mental Science; Sensing/Smart Systems Brain Institute founded 2016 Medical School founded 2011; residence program 2014; combined MD/PhD program with Scripps founded 2014
Last 5 Years: Life Science Projects Won Retentions / Expansions FY Company Name # Jobs Relocations / New 2011-2012 Imagine Skin Care 30 FY Company Name # Jobs 2011-2012 Oxford Biomedical Technologies 44 2011-2012 Somahlution 29 2012-2013 Palm Beach Orthopedic Institute 27 2012-2013 Navinta 25 2013-2014 Bio Tools 10 2013-2014 Union Scientific 5 2013-2014 Sancilio Group Inc. 25 2013-2014 CTCA 225 2014-2015 Sancilio Group Inc. 424 2014-2015 Vicinitas Cancer Care 200 2014-2015 Zimmer - Biomet 651 2014-2015 Meditox 100 2015-2016 KRS Global Biotechnology 217 2015-2016 Charleston Laboratories 31 Navinta
FINDINGS Approximately 85 PBC life science companies, plus 14 hospital systems
FINDINGS: Cri ritical P Part rtners • Private Industry • Healthcare Institutions • Education • Research Institutions • Venture Capital / Funders • Government
FINDINGS: Criti tical N Need eds • Affordable Real Estate • Funding Streams and Connections • Experienced C-Level Talent • Strong Understanding of Industry • Sector-focused Leadership
RECOMMENDATIONS
Recommendation #1: D Develop a a Life Sci ciences L Leadership G Group (c (complete) Private sector-led group to provide ongoing insight into industry trends, company needs, and unique opportunities relevant to the Palm Beach County market. This group shall have a high profile and active role in the BDB’s effort to promote and implement a successful life science strategy.
Rec ecommen enda dati tion #2 n #2: Foster t the he Devel elopmen ent o of a a “Life Sci cience ces A Aware Community” Address the majority of Palm Beach County residents and business community members who are not conversant about the life science industry and the opportunities it presents for potential employment for county residents and their families; and about the potential of commercializing technologies that may one day impact health, longevity, environmental resources, climate, or food supply and security.
Recommendation #3: Expand the “Behind the Gates” Program to Identify Industry-Specific Investment Capital and to Bolster Available C-Suite Expertise Identify sources of early stage and ongoing investment capital to support product development needs over 10-15 year development timelines. Educate PBC’s active investment community about investing in life science transactions. Identify Palm Beach County high net worth individuals who invest in life science companies in other locations.
Recommendation # #4: En Enhance ce S Sect ctor-Focu cused N Networking In a vibrant sector-focused cluster, networking occurs both intentionally and spontaneously. The best networking results in continually growing collaborations and expanded business and personal partnerships and serves to break down silos of expertise.
Recommendation # #5: Develop a Regional D Definition & & Identity Align the interests of the region and its partners under a single identity that positions the region as a unified entity for life science and biomedical development.
Recommendation #6: En Enhance ce the Vertical En Entrepreneurial S Support Ecosy system Focus on enhancing efforts to grow indigenous companies, to result in long-term, sustainable benefits including diversifying and growing the overall economy and creating high-paying jobs.
Recommendation # #7: Partner w with FAU, other R Regional U Universities and the Non-Profit I Institutes t to Catalyze Life S Sci ciences En Entrepreneurial Effor orts An unprecedented opportunity for the County and its academic partners to take a critical look at collective commercialization outcomes under the present framework.
LIFE S SCI CIENCE CE A ADVISORY COUNCI CIL Hospitals: Educational Leaders: John Couris, President & CEO, Jupiter Medical Center (Co-chair) William Fleming, Jr., President, Palm Beach Atlantic University • • Gina Melby, CEO, JFK Medical Center (Co-chair) John Kelly, Ph.D. President, Florida Atlantic University • • Ava Parker, J.D., President, Palm Beach State College • Robert Avossa, Ed.D., Superintendent of Schools, School District of • Palm Beach County John Couris, President & CEO, Gina Melby, CEO, Jupiter Medical Center JFK Medical Center William Fleming, Jr., President, John Kelly, Ph.D. President, Robert Avossa, Ed.D., Ava Parker, J.D., President, Palm Beach Atlantic University Florida Atlantic University Superintendent of Schools Palm Beach State College
LIFE S SCI CIENCE CE A ADVISORY COUNCI CIL Government: Research: Mary Lou Berger, Mayor, Palm Beach County Board of County David Fitzpatrick, Ph.D., CEO, Research Group Leader, Scientific • • Commissioners Director, Max Planck Florida Institute for Neuroscience Shannon LaRocque, Assistant County Administrator, Palm Beach [Future Appointee], Scripps Florida • • County) Mary Lou Berger, Mayor, Shannon LaRocque, Assistant County David Fitzpatrick, Ph.D., CEO, Research Palm Beach County Board of County Administrator, Group Leader, Scientific Director, Commissioners (Palm Beach County) Max Planck Florida Institute Neuroscience
LIFE FE S SCIENCE A ADVI VISORY BOARD Medical Device Pharmaceutical / Nutraceutical Tony Cutshall, Worldwide Senior VP Marketing and Development, Fred Sancilio, Ph.D., Founder, Chairman, President & CEO, Sancilio & • • DePuy Synthes Co. David Josza, Corporate Vice President and General Manager, Dental • Division, Biomet 3I, a Zimmer Biomet Company Tony Cutshall, David Josza, Corporate Vice President and Worldwide Senior VP Marketing and Development, General Manager, Dental Division, Biomet 3I, a Zimmer Biomet Company Fred Sancilio, Ph.D., Founder, Chairman, President & CEO, Sancilio & Co.
LIFE FE S SCIENCE A ADVI VISORY BOARD Venture Capital Economic Development Technology Transfer Shawn Titcomb, Managing David Day, Assistant Vice Kelly Smallridge, President and CEO • • • Director, Head of President for Technology Business Development Board of Healthcare Investment and Transfer / Director, Office of Palm Beach County Merchant Banking, Noble Technology Licensing, Life Science Partners University of Florida (ex-officio) Shawn Titcomb, Managing Director, David Day, Assistant Vice President for Kelly Smallridge, President and CEO Head of Healthcare Investment and Merchant Banking, Technology Transfer / Director, Office of Business Development Board of Noble Life Science Partners Technology Licensing, Palm Beach County University of Florida
Current Pipeline • Project Link – 25 jobs, Jupiter; R&D for a new oncology therapeutic • Project Cover – 25 jobs; County-wide; biotech research firm, oncology therapeutic • Project Treat – 115 jobs, County-wide; international medical device company exploring North American headquarters and manufacturing location.
MARK RKETI ETING
Palm Be Beach Co County Life fe Science Industry y Study Kelly Smallridge President and CEO, Business Development Board of Palm Beach County Ksmallridge@bdb.org 561-835-1008
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