May 11, 2009 — 10:13am ET |
By John Carroll
The University of Miami has inked a deal to kick-start a new life science park with the construction of 211,000 square feet of new space for established and spin-out companies looking to work closely with its scientists. The dirt will start flying this July in the first instalment of an ambitious plan to build a total of six buildings with two million square feet of space, create 4,531 jobs and more than a quarter billion dollars in annual economic activity.
UM’s Dr. Bart Chernow has plans to link up with top medical scientists in the UK. And he’s clearly hoping to gin some interest from venture capital groups–many of whom have been avoiding South Florida up to now.
Miami-based SeedOne Ventures plans to move into the UM Life Science Park when it’s ready. And they’ll bring along Heat Biologics, which is working on a cancer vaccine. Canada’s Stem Cell Therapeutics also has reserved some space and its CEO, Alan Moore, says he just might move the company there.
UM is one of a number of universities to get deeply involved in drug development work. The state’s universities and colleges are among the nation’s most prolific when it comes to patenting new biotech IP.
– check out the report from the South Florida Business Journal