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Palm Beach CountyLife Science Industry Study
Presented by Kelly SmallridgePresident and CEO
Business Development Board of Palm Beach County
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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
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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
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FINDINGS
Approximately 85 PBC life science companies, plus 14 hospital systems
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FINDINGS: Critical Partners
• Private Industry• Healthcare Institutions• Education• Research Institutions• Venture Capital / Funders• Government
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• Affordable Real Estate• Funding Streams and Connections• Experienced C-Level Talent• Strong Understanding of Industry• Sector-focused Leadership
FINDINGS: Critical Needs
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RECOMMENDATIONS
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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)
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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.
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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
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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.
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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.
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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.
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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.
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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
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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
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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.
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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
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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.
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MARKETING
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Palm Beach CountyLife Science Industry Study
Kelly SmallridgePresident and CEO, Business Development Board of Palm Beach County