JUPITER GAINS FIRST-OF-ITS-KIND LIFE SCIENCE ACCELERATOR

Published Wednesday, August 28, 2019

February 6, 2019 – JUPITER, FL - The Business Development Board of Palm Beach County (BDB) and the Town of Jupiter are pleased to announce the relocation of Beacon Pharmaceutical (beaconpharmaceutical.com), a focused early-stage life sciences firm, to Jupiter.  As part of Beacon’s move to Jupiter, the company will build a state-of-the-art life sciences accelerator and biologics synthesis facility to support up to 50 companies in which the firm plans investments. This new headquarters will be a building up to 200,000 sq. ft. in Jupiter, creating an estimated more than 137 new jobs with a capital investment of approximately $80 million.  Beacon Pharmaceutical originally planned to house the project in New York City.  Through proactive outreach by the BDB, Beacon Pharmaceutical decided to consider Palm Beach County.    

“Beacon Pharmaceutical Global Health Initiative’s central thesis is its people,” said Nancy Torres Kaufman, Executive Chairwoman of Beacon Pharmaceuticals.  She continued, “Our CEO Philippe Gastone, Team, Executive and Scientific Board have worked tirelessly to expedite this transaction and are the fuel behind this wonderful news.   Beacon Pharma is about the passionate individuals innovating and developing break through healthcare solutions for the citizens of the globe. The Beacon Platform is based on a deeply held belief that all human lives deserve an opportunity to achieve their fullest potential and contribute meaningfully to society.  We aim to achieve these through investments in research & development in highly profitable and liquid socially conscious investment opportunities.”  Leveraging its international network, Beacon will provide support services to early stage companies, from business, legal, and regulatory support, to laboratory space, and investment.  The site will also manufacture cGMP clinical trial supplies and stem cell therapies to meet a global unmet need.  As a result, the Beacon-Accelerator in Jupiter will be able to support companies from concept to commercialization.

“The Beacon-Accelerator will host and invest in cutting-edge companies seeking to bring promising medical advancements to market making it a significant addition to Palm Beach County’s Bench to Bedside Life Sciences Cluster, which includes two globally top-ten ranked research institutions, the Max Planck Institute and the Scripps Research Institute, and FAU’s Brain Institute, a Nikon Center of Excellence, all of which are now located in Jupiter,” Kelly Smallridge, President and CEO, Business Development Board. 

“Jupiter is extremely excited to welcome Beacon Pharmaceutical to its life science community of companies,” said Todd Wodraska, Mayor of the Town of Jupiter.  “Since 2006, when Scripps decided to locate in Jupiter, we have supported this industry through our bioscience investment fund, setting aside $3 million for loan guarantees that have supported 15 biotech companies to-date.  Beacon Pharmaceutical fills what was a missing component for Jupiter, offering support services that allow research and development companies to bring their products to market, all within our beautiful 22 square miles.”

In 2015, the BDB commissioned a large study, resulting in the creation of a Life Sciences Industry Action Plan to provide a roadmap to grow the Cluster.  In 2017, the BDB hired Robert Mino, a biotech business and patent attorney and experienced biotech entrepreneur, to implement the Action Plan.  Mr. Mino focuses on building the ecosystem by locating investment capital and other resources for life sciences companies.

“A local accelerator would attract a number of companies to our community, creating jobs, fueling collaboration, and possibly developing the next medical advancement to improve the lives of people around the globe,” said Robert Mino, VP, Life Sciences, Business Development Board.

Investors

Aerojet Rocketdyne Bank of America Baptist Health South Florida BB&T Caler, Donten, Levine, Cohen, Porter & Veil, P.A.
CareerSource Centennial Bank DePuy Synthes Power Tools, a Johnson & Johnson Company Engel & Volkers Palm Beach Equestrian Center
Florida Crystals Corporation FPL Greenberg Traurig Gunster Hardrives, Inc.
HCA Palm Beach Hospitals Hedrick Brothers Construction J.C. White JP Morgan Chase LRP Publications
MBAF Minto Communities, LLC NCCI NextGen Mgmt dba DxWeb Management, LLC Nova Southeastern University
Palm Beach Aggregates, LLC Palm Beach County Board of County Commissioners Palm Beach Park of Commerce PNC Bank Pratt & Whitney (A United Technologies Company)
Raymond James Financial Services/Boynton Financial Group, Inc. RSM South Florida Business & Wealth Magazine South Florida Business Journal TD Bank
Tortoise Properties Wells Fargo & Company Wexford Capital