ALACHUA, Fla.–(BUSINESS WIRE)–UF Innovate | Sid Martin Biotech announces the City of Alachua’s life sciences industry has raised more than $1 billion in 2020. The life sciences community has accelerated growth with government grants and contracts, mergers and acquisitions, successful financing rounds, and sales revenue.
In 2020 alone UF Innovate | Sid Martin Biotech’s resident companies, members and alumni raised over $462,660,054 in outside investment, $282,400,002 in government contracts, and $4,470,107 in grants. In addition, as of the third quarter for calendar year 2020 annual sales for incubator residents, members and alumni is approximately $236,114,506. In 2019 these companies raised over $2.3 billion, which includes Thermo Fisher’s acquisition of Sid Martin alum and Alachua’s Brammer Bio for $1.7 million.
One of 2020’s largest acquisitions was the sale of Sid Martin alum RTI Surgical Holdings, Inc.‘s OEM business to Montagu Private Equity LLP for $440 million.
- Sid Martin alum Ology Bioservices received nearly $200 million in contract awards in support of the Department of Defense’s response to the COVID-19 pandemic, and announced the construction of a new 43,000 square foot facility for producing virus vaccines in Alachua’s Copeland Park.
- Sid Martin resident company TearClear raised $22 million in a Series B funding round and successful completion of pre-IND meeting with the FDA for a preservative free multi-dose delivery of latanoprost for the treatment of glaucoma.
Top Global Incubator
UF Innovate | Sid Martin Biotech was named top global incubator by the International Business Incubation Association (InBIA) for a record third time. Mark Long, the Director of Incubation Services at UF Innovate, stated, “Since Sid Martin’s opening in 1995, the incubator’s companies have raised over $9.3 billion in funding and merger and acquisition activity and created 8,160 jobs. Sid Martin Biotech is a major economic development driver in Florida.”
Long also noted 80 percent of the incubator’s companies are still viable five years post-graduation. 72 percent of these companies have remained in State bringing in high-paying jobs averaging $78,000 annual salary, having a positive impact on the local and State economy.
Merrie Shaw, Assistant Director, Sid Martin Biotech, said, “We have great faith that this will continue to be the place for bioscience entrepreneurs feeding, fueling, or healing the world to grow their company.”
Alachua’s Life Sciences Financing & Revenue History
2017: $520,779,243
2018: $569,920,986
2019: $2,370,769,671, includes Thermo Fisher’s acquisition of Brammer Bio for $1.7 billion
2020: $1,000,000,000About UF Innovate | Sid Martin Biotech
UF Innovate | Sid Martin Biotech is the leading biotechnology incubator headquartered at the University of Florida in Alachua, Florida, at Progress Park. Sid Martin has been honored with national and international awards for incubator excellence and achievements in technology commercialization, funding access, job creation and technology-based economic development. It is dedicated to mentoring and accelerating the growth of innovative early-stage bioscience and biotechnology companies and supporting the economic growth of the North Central Florida region. For more information, visit Sid Martin Biotech.