presented by kelly smallridge · 2019-05-07 · private sector-led group to provide ongoing insight...

Palm Beach CountyLife Science Industry Study

Presented by Kelly SmallridgePresident and CEO

Business Development Board of Palm Beach County

Major Investments Made in Life Science

Founded 2004, permanent facility opened 2009Jobs: 600+Square Footage: 350,000 square feet on 30 acresFunding: State of Florida (appropriation of federal economic development funds): $310 million

Palm Beach County: $187 million

Founded 2006, permanent facility opened 2012Jobs: 120 Square footage: 100,000 square feetFunding: State of Florida: $94 million

Palm Beach County: $87 millionFAU: land donation

Jupiter Life Science Initiative: 20,000 square foot research building; eight neuroscience labs with 40 employeesFour Centers doing life science workCollaboration with Scripps and Max PlanckFour Pillars: Healthy Aging; Neuroscience; Ocean Science/Engineering/Environ-mental Science; Sensing/Smart SystemsBrain 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

Relocations / New

FY Company Name # Jobs2011-2012 Somahlution 29

2012-2013 Navinta 25

2013-2014 Union Scientific 5

2013-2014 CTCA 225

2014-2015 Vicinitas Cancer Care 200

2014-2015 Meditox 100

Retentions / Expansions

FY Company Name # Jobs2011-2012 Imagine Skin Care 30

2011-2012 Oxford Biomedical Technologies 44

2012-2013 Palm Beach Orthopedic Institute 27

2013-2014 Bio Tools 10

2013-2014 Sancilio Group Inc. 25

2014-2015 Sancilio Group Inc. 424

2014-2015 Zimmer - Biomet 651

2015-2016 KRS Global Biotechnology 217

2015-2016 Charleston Laboratories 31Navinta

FINDINGS

Approximately 85 PBC life science companies, plus 14 hospital systems

FINDINGS: Critical Partners

• Private Industry• Healthcare Institutions• Education• Research Institutions• Venture Capital / Funders• Government

• Affordable Real Estate• Funding Streams and Connections• Experienced C-Level Talent• Strong Understanding of Industry• Sector-focused Leadership

FINDINGS: Critical Needs

RECOMMENDATIONS

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.

Recommendation #1: Develop a Life Sciences Leadership Group(complete)

Recommendation #2: Foster the Development of a “Life Sciences 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.

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 #3: Expand the “Behind the Gates” Program to Identify Industry-Specific Investment Capital and to Bolster Available C-Suite Expertise

Recommendation #4: Enhance Sector-Focused 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 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: Enhance the Vertical Entrepreneurial Support Ecosystem

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 with FAU, other Regional Universities and the Non-Profit Institutes to Catalyze Life Sciences Entrepreneurial Efforts

An unprecedented opportunity for the County and its academic partners to take a critical look at collective commercialization outcomes under the present framework.

LIFE SCIENCE ADVISORY COUNCIL

Hospitals:

• John Couris, President & CEO, Jupiter Medical Center (Co-chair)• Gina Melby, CEO, JFK Medical Center (Co-chair)

Educational Leaders:

• William Fleming, Jr., President, Palm Beach Atlantic University• 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

Gina Melby, CEO, JFK Medical Center

John Couris, President & CEO, Jupiter Medical Center

William Fleming, Jr., President, Palm Beach Atlantic University

John Kelly, Ph.D. President,Florida Atlantic University

Ava Parker, J.D., President, Palm Beach State College

Robert Avossa, Ed.D.,Superintendent of Schools

LIFE SCIENCE ADVISORY COUNCIL

Government:

• Mary Lou Berger, Mayor, Palm Beach County Board of County Commissioners

• Shannon LaRocque, Assistant County Administrator, Palm Beach County)

Research:

• David Fitzpatrick, Ph.D., CEO, Research Group Leader, Scientific Director, Max Planck Florida Institute for Neuroscience

• [Future Appointee], Scripps Florida

Mary Lou Berger, Mayor,Palm Beach County Board of County

Commissioners

Shannon LaRocque, Assistant County Administrator,

(Palm Beach County)

David Fitzpatrick, Ph.D., CEO, Research Group Leader, Scientific Director,Max Planck Florida Institute Neuroscience

LIFE SCIENCE ADVISORY BOARD

Medical Device

• Tony Cutshall, Worldwide Senior VP Marketing and Development, DePuy Synthes

• David Josza, Corporate Vice President and General Manager, Dental Division, Biomet 3I, a Zimmer Biomet Company

Pharmaceutical / Nutraceutical

• Fred Sancilio, Ph.D., Founder, Chairman, President & CEO, Sancilio & Co.

Tony Cutshall, Worldwide Senior VP Marketing and Development,

David Josza, Corporate Vice President andGeneral Manager, Dental Division,

Biomet 3I, a Zimmer Biomet CompanyFred Sancilio, Ph.D., Founder, Chairman, President & CEO, Sancilio & Co.

LIFE SCIENCE ADVISORY BOARD

Venture Capital

• Shawn Titcomb, Managing Director, Head of Healthcare Investment and Merchant Banking, Noble Life Science Partners

Technology Transfer

• David Day, Assistant Vice President for Technology Transfer / Director, Office of Technology Licensing, University of Florida (ex-officio)

Shawn Titcomb, Managing Director, Head of Healthcare Investment and Merchant Banking,

Noble Life Science Partners

David Day, Assistant Vice President for Technology Transfer / Director, Office of

Technology Licensing,University of Florida

Economic Development

• Kelly Smallridge, President and CEO Business Development Board of Palm Beach County

Kelly Smallridge, President and CEOBusiness Development Board of

Palm Beach County

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.

MARKETING

Palm Beach CountyLife Science Industry Study

Kelly SmallridgePresident and CEO, Business Development Board of Palm Beach County

Ksmallridge@bdb.org561-835-1008