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 opened 2009 Jobs: 600+ Square Footage: 350,000 square feet on 30 acres Funding: State of Florida (appropriation of federal economic development funds): $310 million Palm Beach County: $187 million
Founded 2006, permanent facility opened 2012 Jobs: 120 Square footage: 100,000 square feet Funding: State of Florida: $94 million Palm Beach County: $87 million FAU: land donation
Jupiter Life Science Initiative: 20,000 square foot research building; eight neuroscience labs with 40 employees Four Centers doing life science work Collaboration with Scripps and Max Planck Four Pillars: Healthy Aging; Neuroscience; Ocean Science/Engineering/Environmental 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 Relocations / New FY
Company Name
# Jobs
2011-2012
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
Navinta
FY
Company Name
# Jobs
2011-2012
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
31
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
FINDINGS: Critical Needs
• Affordable Real Estate • Funding Streams and Connections • Experienced C-Level Talent • Strong Understanding of Industry • Sector-focused Leadership
RECOMMENDATIONS
Recommendation #1: Develop a Life Sciences Leadership Group (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.
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.
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: 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: • •
Educational Leaders:
John Couris, President & CEO, Jupiter Medical Center (Co-chair) Gina Melby, CEO, JFK Medical Center (Co-chair)
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, School District of Palm Beach County
Gina Melby, CEO, JFK Medical Center William Fleming, Jr., President, John Kelly, Ph.D. President, Palm Beach Atlantic University Florida Atlantic University
Ava Parker, J.D., President, Palm Beach State College
Robert Avossa, Ed.D., Superintendent of Schools
LIFE SCIENCE ADVISORY COUNCIL Government: • •
Research:
Mary Lou Berger, Mayor, Palm Beach County Board of County Commissioners Shannon LaRocque, Assistant County Administrator, Palm Beach County)
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 for Neuroscience [Future Appointee], Scripps Florida
David Fitzpatrick, Ph.D., CEO, Research Group Leader, Scientific Director, Max Planck Florida Institute Neuroscience
LIFE SCIENCE ADVISORY BOARD Medical Device • •
Pharmaceutical / Nutraceutical
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
Tony Cutshall, Worldwide Senior VP Marketing and Development,
David Josza, Corporate Vice President and General Manager, Dental Division, Biomet 3I, a Zimmer Biomet Company
•
Fred Sancilio, Ph.D., Founder, Chairman, President & CEO, Sancilio & Co.
Fred 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
Shawn Titcomb, Managing Director, Head of Healthcare Investment and Merchant Banking, Noble Life Science Partners
Economic Development
Technology Transfer •
David Day, Assistant Vice President for Technology Transfer / Director, Office of Technology Licensing, University of Florida (ex-officio)
David Day, Assistant Vice President for Technology Transfer / Director, Office of Technology Licensing, University of Florida
•
Kelly Smallridge, President and CEO Business Development Board of Palm Beach County
Kelly Smallridge, President and CEO Business 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 County Life Science Industry Study Kelly Smallridge President and CEO, Business Development Board of Palm Beach County
[email protected] 561-835-1008
