Kelly Smallridge President and CEO Business Development Board of - - PowerPoint PPT Presentation

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

• pened 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/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

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

Retentions / Expansions 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

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

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

FINDINGS: Criti tical N Need eds

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: D Develop a a Life Sci ciences L Leadership G Group (c (complete)

Rec ecommen enda dati tion #2 n #2: Foster t the he Devel elopmen ent o

• f 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.

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: 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

• rts

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:

• 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 S SCI CIENCE CE A ADVISORY COUNCI CIL

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 FE S SCIENCE A ADVI VISORY 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 and 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

• 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 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.

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