Contract development and manufacturing organization (CDMO) Florida Biologix has spun off from the University of Florida (UF) with financial backing from private equity firm Ampersand Capital Partners, Ampersand recently announced from its Wellesley, Massachusetts headquarters.
"Florida Biologix is a leading company in its field and given the exciting developments within the complex biologics market this is an excellent time for UF to pass the stewardship to the private sector,” Ampersand partner David Anderson said. “We are looking forward to working with the team at Florida Biologix to accelerate and continue its success and leadership."
Formed in 2006 as part of UF’s Center of Excellence for Regenerative Health Biotechnology, the company received initial funding from The State of Florida, the University of Florida, and the U.S. Department of Commerce Economic Development Administration for the purpose of launching the state’s biotechnology sector.
Florida Biologix will continue operation from its current Progress Park campus, with plans to lease additional space in Alachua, Florida. Almost all current staff will stay with the business, including founding director Richard Snyder and senior team members. Additionally, new employees have joined the senior team, including CEO Tim Martin.
"I am very excited to join Florida Biologix,” Martin said. “The company has extensive expertise in a wide array of biopharmaceutical products. After working with Ampersand to survey the contract development and manufacturing services industry focused on complex biologics, we determined that Florida Biologix occupies a unique position in this space.'"
Ampersand’s investment in Florida Biologix will further expand the company's manufacturing operations in gene and cell therapies. As a CDMO, Florida Biologix offers cGMP-compliant biopharmaceutical development, manufacturing of complex biological drug products for pre-clinical studies, early human clinical trials, and late stage and commercial sale.
"This is exactly what we want to happen with an initiative like this,” David Norton, UF's vice president for research, said. “We nurtured Florida Biologix until it was able to operate successfully on its own, now we're handing it off to the private sector."