Criminal Investigation Ends Miami Biotech Park Development

by Hisham S. Ayoub, DMD
BioHealth Investor.com



The proposed development of a large biotech park was put to end by Miami-Dade County after a formal investigation was initiated following accusations that the Boston developer Dennis Stackhouse has mismanaged funds, and gave kickbacks to various officials and their families.

The planned Miami biotech park was intended to counter the large biotech project just north of West Palm Beach already in development, which has attracted numerous large clinical organizations, including the Scripps Institute.

This is a huge embarassement, if nothing else, to the image of Miami, and a disappointment to the University of Miami, since UM was excited to leverage its world class medical research to attract a surge in venture funding and licensing agreements.

I guess this completely downplays my earlier article on the biotech boom in Florida.



RELATED READING:
- Miami-Dade Ends Development of Plans for Troubled Biotech Project
- Florida: the Next Biotech Hub?




BioHealth Investor.com
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