Biotech boost: Region lands two clinical research companies
BYLINE: Brian Bandell
South Florida's life science industry is getting a double-dose of good news with two clinical research companies coming.
Hollywood will be the new headquarters of contract researcher bioRASI, which plans to hire at least 45 people. Meanwhile, San Antonio-based Synergyst Research will expand its clinical trial management services to doctors in Miami, where it plans to open an office with 10 to 20 employees.
The two companies' entry helps soften the blow of contract research organization SFBC International leaving Miami for New Jersey in 2006.
"It is in the contracting clinical trial area, which is great because we really need to see the support organizations," BioFlorida President C. Russell Allen said of bioRASI. "We need those organizations' facilities and capital investment and all the things that go with building this industry."
The Broward Alliance announced the bioRASI move at its annual meeting on Oct. 10.
A $250,000 qualified target industries business incentive deal was signed with the company by Florida and Hollywood, which would pay 15 percent of that money. It can collect the money if it meets its job target in the next three years.
The company is a spin off from the Russian Academy of Sciences - the world's largest and oldest research organization. It was created in 2001 to collaborate with pharmaceutical, biotech and medical device companies globally in clinical research leading to the commercialization of products.
With most of its employees in Southern California now and some in Eastern Europe, bioRASI has 250 employees, Chairman Boris Reznik said. Most of its employees in Hollywood will be new hires.
Reznik said he got interested in Florida after meeting then-Gov. Jeb Bush at the Biotechnology Industry Organization meeting in 2006.
The Broward location should allow it to draw employees from neighboring counties, he said. "We found this area is tremendously located."
Reznik also said he's eager to work with the technology transfer departments of local universities, such as Florida Atlantic University and Nova Southeastern University.
The company is moving into 12,000 square feet in Hollywood's Venture Corporate Park. The Broward Alliance expects a $620,000 capital investment. Reznik said his venture capital firm, the Vendevia Group, has put more than $2 million into bioRASI.
Company expands to Miami
Synergyst plans to open a Miami office within three months, although it hasn't spoken with local economic development officials. It has hired a physician to oversee its Miami operations and partner with local doctor groups to run clinical trials for them, said Synergyst clinical research director Nancy Price.
The company out-sources the clinical trial management for physicians' offices in exchange for a cut of the payments from pharmaceutical companies, which can offer $50,000 to $250,000 per 10 patients, Price said. Synergyst has helped 300 doctors in 12 markets start 150 clinical trials this year. That amounts to $10 million in revenue split between them.
"The amount of work to get a study up and going in a doctor's office is pretty labor intensive," Price said. "We'll do documentation and reviews and we have an attorney on staff to answer any questions."
The company chose Miami because doctors there have low participation in clinical trials and the population has a high incidence of chronic diseases, such as diabetes. It also has many patients that can't afford health care, which means free care under the extra attention of a clinical trial could appeal to them, Price said.
bioRAS
Chairman: Boris Reznik Web site: www.biorasi.com Address: 3440 Hollywood Blvd., Suite 100, Hollywood 33021 Phone: (786) 388-0700 E-mail: breznik@biorasi.com